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

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

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

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 Lithuanian insurance industry is regulated by Bank of Lithuania (LB).
• The new Solvency II norm is applicable from January 1, 2016.
• Composite insurance is not allowed in Lithuania. However, companies from EU and EEA member states are allowed to operate in both classes of insurance.
• Motor third-party liability insurance and civil liability insurance for construction designers and audit firms are key compulsory classes of insurance.
• Insurance premium tax (IPT) is not levied on insurance products.

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 about this report visit https://www.researchandmarkets.com/research/r2jgt4/governance_risk

View source version on businesswire.com: http://www.businesswire.com/news/home/20171019005621/en/

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Related Topics: Insurance

Source: Research and Markets