Research and Markets: Governance, Risk and Compliance – The Papua New Guinean Insurance Industry 2015

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

The 'Governance, Risk and Compliance - The Papua New Guinean Insurance Industry' report is the result of extensive research into the insurance regulatory framework in Papua New Guinea. 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 operations 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, recent and upcoming changes in 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 Papua New Guinean insurance industry is regulated by the Insurance Commissioner and the Central Bank.

- 100% FDI is permitted in the Papua New Guinean insurance industry.

- Non-admitted insurance is prohibited with a few exceptions.

- Composite insurance is not permitted in Papua New Guinea. However, life insurers can carry on personal accident and health insurance business.

- Workers' compensation and motor third-party liability insurance are the key compulsory classes of insurance.

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/rglpgl/governance_risk

View source version on businesswire.com: http://www.businesswire.com/news/home/20150723006274/en/

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Source: Research and Markets