The Insurance Agency of Bosnia and Herzegovina has become a full member of the International Association of Insurance Supervisors (IAIS).
The IAIS is an international body whose mission is to promote effective and globally consistent supervision of the insurance industry with the aim of ensuring a safe and stable insurance market for the welfare and protection of policyholders and contributing to global financial stability. Membership in the IAIS enables representatives of the Insurance Agency of Bosnia and Herzegovina (hereinafter: the Agency) to participate in the work of committees, working groups and international forums for the exchange of experiences and best practices of supervision, gaining knowledge and experience about current standards, law and insurance practices.
The Agency is responsible for the international relations of Bosnia and Herzegovina in the field of insurance and coordinates and represents Bosnia and Herzegovina in organizations dealing with insurance at the international level. It also performs continuous cooperation with them. The Agency is also responsible for providing all the data that the European Union may require in connection with the law and practice on insurance in Bosnia and Herzegovina in order to assess the harmonization of the legislation of Bosnia and Herzegovina with the standards of the European Union.