Bulgaria Insurance Industry Governance, Risk and Compliance Report 2019 – ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)-- The "Governance, Risk and Compliance - The Bulgarian Insurance Industry" report has been added to ResearchAndMarkets.com's offering.

"Governance, Risk and Compliance - The Bulgarian Insurance Industry" is the result of extensive research into the insurance regulatory framework in Bulgaria. 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 Bulgarian insurance industry is supervised and regulated by the Financial Supervision Commission (FSC), established in March 2003. It is an institution that is independent from the parliament and reports to the National Assembly of Bulgaria. It is a specialized government body for the regulation and control of different segments of the financial system, including the insurance industry. In addition, the Bulgarian insurance industry follows standard market practices set by the International Association of Insurance Supervisors (IAIS).

The report brings together 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.

Scope

• Details of the insurance regulatory framework in Bulgaria.
• Rules and Regulations governing insurance products and insurance entities.
• Key trends and developments pertaining to the country's insurance regulatory framework.
• Rules and Regulations pertaining to the establishment and operation of insurance businesses in the country.
• Taxation imposed on insurance products and insurance companies.

Reasons to Buy

• Gain insights into the insurance regulatory framework in Bulgaria.
• Track the latest regulatory changes, and expected changes impacting the Bulgarian insurance industry.
• Gain detailed information about the key regulations governing the establishment and operation of insurance entities in the country.
• Understand key regulations and market practices pertaining to various types of insurance product.

Key Topics Covered:

1 INTRODUCTION

1.1 What is this Report About?

1.2 Definitions

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

2.3.1 Life Insurance

2.3.2 Property Insurance

2.3.3 Motor Insurance

2.3.4 Liability insurance

2.3.5 Marine, aviation and transit insurance

2.3.6 Personal accident and health insurance

2.4 Compulsory Insurance

2.4.1 Motor third-party liability insurance

2.4.2 Personal accident insurance for passengers on public transport

2.4.3 Workmen's compensation

2.4.4 Air carriers and aircraft operators insurance

2.4.5 Professional indemnity insurance for alternative investment fund managers

2.4.6 Liability for ships with respect to oil pollution

2.4.7 Social insurance system

2.4.8 Professional liability insurance for intermediaries

2.4.9 Clinical trials liability insurance

2.5 Supervision and Control

2.5.1 International Association of Insurance Supervisors

2.5.2 European Insurance and Occupational Pensions Authority

2.5.3 Financial Supervision Commission

2.5.4 Federation of European Risk Management Associations

2.6 Non-Admitted Insurance Regulation

2.6.1 Overview

2.6.2 Intermediaries

2.6.3 Market practices

2.6.4 Fines and Penalties

2.7 Company Registration and Operations

2.7.1 Type of insurance organization

2.7.2 Establishing a local company

2.7.3 Foreign ownership

2.7.4 Types of license

2.7.5 Capital requirements

2.7.6 Solvency margin

2.7.7 Reserve requirements

2.7.8 Investment regulations

2.7.9 Statutory return requirements

2.7.10 Fee structure

2.8 Taxation

2.8.1 Insurance premium or policy taxation

2.8.2 Withholding taxes on premium paid overseas

2.8.3 Corporate tax

2.8.4 VAT

2.8.5 Captives

2.9 Legal System

2.9.1 Introduction

2.9.2 Access to court

2.9.3 Alternative dispute resolution

3 APPENDIX

For more information about this report visit https://www.researchandmarkets.com/research/vwkh9m/bulgaria?w=4

View source version on businesswire.com: https://www.businesswire.com/news/home/20190219005477/en/

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Related Topics: Insurance

Source: Research and Markets