Ecuadorian Insurance Industry Governance, Risk and Compliance Report 2016 – Research and Markets

DUBLIN--(BUSINESS WIRE)-- Research and Markets (http://www.researchandmarkets.com/research/jtsc5f/governance_risk) has announced the addition of the "Governance, Risk and Compliance - the Ecuadorian Insurance Industry" report to their offering.

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

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 SBS does not permit composite insurance in the country. However, composite insurers established prior to 1998 can offer both life and non-life insurance products.

- Non-admitted insurance is not permitted in the country and any such market practice is liable for legal action.

- A favorable foreign direct investment environment and limited barriers to entry encourage international insurers to enter Ecuador.

- New increased capital requirements could compel smaller insurers to merge with the larger ones.

- Traffic accident insurance, general insurance under the Social Security Act, and aviation insurance are compulsory.

Key Topics Covered:

1 Introduction

2 Governance, Risk and Compliance

2.1 Legislation Overview and Historical Evolution

2.2 Latest Changes in Regulations

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 visit http://www.researchandmarkets.com/research/jtsc5f/governance_risk

View source version on businesswire.com: http://www.businesswire.com/news/home/20160323006517/en/

Research and Markets

Laura Wood, Senior Manager

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Source: Research and Markets