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TMCNet:  Governance, Risk and Compliance in the Bhutanese Insurance Industry 2017 - Research and Markets

[February 16, 2017]

Governance, Risk and Compliance in the Bhutanese Insurance Industry 2017 - Research and Markets

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

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

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, taxationand legal system in the country. The report also includes the scope of non-admitted insurance in the country.

Key Highlights:

- The Bhutanese insurance industry is regulated by the Royal Monetary Authority of Bhutan.

- Non-admitted insurance is prohibited by the law. However reinsurers are permitted to operate without a license.

- 100% foreign direct investment is permitted in the Bhutanese insurance industry.

- Professional indemnity insurance for brokers is compulsory in Bhutan.

- Insurance premium tax is not imposed on insurance premiums in Bhutan.

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

- Royal Insurance Corporation of Bhutan

- Bhutanese Reinsurance Company

For more information about this report visit http://www.researchandmarkets.com/research/dc2kdz/governance_risk


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