On May 26-27, 2015, CISFC’ delegation attended the 3rd International Forum of Insurance Guarantee Schemes (IFIGS) upon invitation in Spain. 

As an unofficial non-profit international organization, the IFIGS aims to discuss topics of mutual concern of members, to promote and propel the exchange and cooperation between insurance guarantee fund agencies from different countries and regions by sharing their idea and experience. The IFIGS hosted its first forum in Toronto, Canada in November 2011, declared its formal establishment in May 2013, and now has 20 members from 17 countries and regions. This meeting is the third annual conference of the IFIGS after its formal establishment. It was hosted by the Consorcio de Compensación de Seguros and attended by 18 members and representatives of invited agencies. 

The meeting discussed a total of three topics: First, function of insurance guarantee agencies and experience sharing; Second, recovery and resolution plans – mechanism and role of the insurance guarantee fund agency to the insurance company that can no longer maintain the operation; Third, the financing mechanism of the insurance guarantee fund agency.  

At the meeting, CISFC and peers from Spain, Kenya, Thailand, Britain, Norway, America, Canada, Poland and Greece shared their respective current operating statuses and problems. By attending the meeting, CISFC has learned practical experience of the insurance guarantee fund management of different countries. Also, it has strengthened exchange and communication with international peers to some extent and enlarged the international influence of CISF. 

        CISFC’s delegation Attends the 3rd IFIGS upon Invitation