ACAPS and the Omani Capital Market Authority (CMA) co-host a seminar on climate risks

This event brings together MENA supervisors, the International Association of Insurance Supervisors (IAIS), the Access to Insurance Initiative (A2ii) and the Sustainable Insurance Forum (SIF) to discuss the challenges raised by climate risks and the protection gap and the best solutions to address them.

This meeting is an opportunity to discuss the IAIS roadmap on climate risks and to hear the views of supervisory authorities on the challenges facing the insurance markets in the region.

It should also be noted that this meeting will also offer an opportunity to exchange experiences and best practices in this field and to take stock of the most important international standards aimed at combating the effects of climate change.

In addition, the organization of this meeting comes in application of the memorandum of understanding concluded between the ACAPS and the Omani Capital Market Authority, during the first quarter of the current year. This MoU has for object the reinforcement of  bilateral cooperation and the exchange of information in the field of insurance on the basis of  reciprocal interests.

About the CMA

The Omani Capital Market Authority was established on November 9th, 1998 and became operational on January 9th, 1999. It is a governmental entity with legal personality and financial and administrative independence. It is responsible for the development of the capital market and insurance sectors, including the preparation of studies and the establishment of appropriate legislation and regulations in accordance with international best practices.