international insurance standards

International insurance standards are a set of guidelines and best practices that ensure insurance companies worldwide operate fairly, transparently, and safely. They help maintain consistent quality, financial stability, and consumer protection across different countries. These standards cover areas like risk assessment, reserve requirements, reporting, and solvency, enabling insurers to manage risks effectively and customers to trust their coverage. By harmonizing regulations, international standards facilitate global trade and cooperation among insurers, fostering a stable and reliable insurance market worldwide.