Bermudian Insurance Industry Governance, Risk and Compliance Report 2017 – Research and Markets

DUBLIN--(BUSINESS WIRE)-- The "Governance, Risk and Compliance - The Bermudian Insurance Industry" report has been added to Research and Markets' offering.

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

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 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.

Key Highlights:

• The Bermuda Monetary Authority (BMA) is the government regulatory body supervising and regulating the Bermudian insurance and reinsurance industry
• Effective from January 1, 2016, Bermuda's commercial insurers' and reinsurers' regimes were declared equivalent to EC's Solvency II regime.
• Foreign direct investment up to 100% is permitted in the insurance industry of Bermuda.
• Social insurance system, health insurance, motor third-party liability insurance, merchant shipping insurance, workers' compensation insurance and professional indemnity insurance are the key classes of compulsory insurance in the Bermudian insurance industry.
• The government of Bermuda does not impose any tax on corporate incomes, capital gains and dividends. This no tax regime of Bermuda extends until 2016.

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

For more information about this report visit https://www.researchandmarkets.com/research/gzv72g/governance_risk

View source version on businesswire.com: http://www.businesswire.com/news/home/20171018006059/en/

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Related Topics: Insurance

Source: Research and Markets