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TMCNet:  Governance, Risk and Compliance in The Fijian Insurance Industry 2017 - Research and Markets

[February 16, 2017]

Governance, Risk and Compliance in The Fijian Insurance Industry 2017 - Research and Markets

Research and Markets has announced the addition of the "Governance, Risk and Compliance - The Fijian Insurance Industry" report to their offering.

The 'Governance, Risk and Compliance - The Fijian Insurance Industry' report is the result of extensive research into the insurance regulatory framework in Fiji.

It provides detailed analysis of the insurance regulations for life, property, motor, liability, personal accident and health, and marine, aviation and transit insurance. The report specifies various requirements for the establishment and operation of insurance and reinsurance companies and intermediaries.

The report brings together The research, modeling and analysis expertise, giving insurers access to information on prevailing insurance regulations, and recent and upcoming changes in the regulatory framework, taxation and legal system in the country. The report also includes the scope of non-admitted insurance in the country.

Ke Highlights:

- The Fijian insurance industry is regulated by the Reserve Bank of Fiji.

- Non-admitted insurers and intermediaries are not permitted in the Fijian insurance industry. However, non-admitted treaty and facultative reinsurers are permitted in Fiji.

- The life and general insurance businesses in Fiji are regulated by the provisions of the Insurance Act 1998.

- Motor third-party liability insurance and workmen's compensation insurance are mandatory policies in Fiji.

- The Fiji Islands Revenue and Customs Authority levies VAT at a rate of 12.5% on general insurance products, whereas life insurance products and services are exempted.

Key Topics Covered:

1 INTRODUCTION

2 GOVERNANCE, RISK AND COMPLIANCE

2.1 Legislation Overview and Historical Evolution

2.2 Latest Changes in Regulation

2.3 Legislation and Market Practice by Type of Insurance

2.4 Compulsory Insurance

2.5 Supervision and Control

2.6 Non-Admitted Insurance Regulations

2.7 Company Registration and Operations

2.8 Taxation

2.9 Legal System

3 APPENDIX

Companies Mentioned

- BSP Life (Fiji) Ltd

- Life insurance Corporation of India

- Dominion Insurance Co Ltd

- New India Assurance Company Ltd

- Sun Insurance Co Ltd

- BSP Health Care (Fiji) Ltd

For more information about this report visit http://www.researchandmarkets.com/research/rzhpq2/governance_risk


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