The International Association of Insurance Supervisors (IAIS) is a voluntary membership-driven standards-setting organization of insurance supervisors and regulators from over 190 jurisdictions in more than 140 countries. Founded in 1994, it seeks to "supervise the insurance industry in order to develop and maintain fair, safe, and stable insurance markets".[1] In addition to its members, approximately 135 observers representing international institutions, professional associations and insurance and reinsurance companies, as well as consultants and other professionals participate in IAIS activities.