ACAPS, in collaboration with CMA, organizes a regional forum on climate risks

On September 27-28, 2022, in Muscat, Oman, the Insurance and Social Reserve Supervisory Authority (ACAPS) and the Capital Markets Authority (CMA) of the Sultanate of Oman organized a regional forum on climate monitoring in the Middle East and North Africa. , risks and security gaps.
The forum was attended by representatives of insurance industry supervisors and supervisors in the Middle East and North Africa and representatives from the International Association of Insurance Supervisors, the Access to Insurance Initiative and the Sustainable Insurance Forum to examine the challenges. Reviewing climate risks and security inequities, as well as the best solutions to address them.
Reflecting the growing importance of the Middle East and North Africa in dealing with the effects of climate change, the meeting aims to raise awareness of the need to implement precautionary and protection programs and policies and build the capacity of the insurance industry. In the fight against climate risks.
The meeting was an opportunity to examine the roadmap developed by the International Association of Insurance Supervisors on climate risks and to explore supervisors’ views on the challenges facing insurance markets in the region.
It should also be noted that the forum will allow for the exchange of experiences and good practices in this field, as well as the articulation of the most important international standards adopted in dealing with the effects of climate change.
On the other hand, this meeting is part of the partnership between the Moroccan Insurance and Social Reserve Supervisory Authority and the Omani Capital Market Authority, after a memorandum of understanding was concluded in the first third of this year with the aim of strengthening bilateral relations cooperation. and exchange of information in the insurance industry to serve mutual interests. For both countries.