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(IT-NEWSWIRE.COM, July 18, 2015 )
Synopsis
The report provides insights into the governance, risk and compliance framework relating to the insurance industry in Bermuda, including:
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An overview of the insurance regulatory framework in Bermuda.
The latest key changes, and changes expected in the Bermudian insurance regulatory framework.
Key regulations and market practices related to different types of insurance product in the country.
Rules and regulations pertaining to key classes of compulsory insurance, and the scope of non-admitted insurance in Bermuda.
Key GRC parameters including licensing requirements, permitted foreign direct investment, minimum capital requirements, solvency requirements, reserve requirements, and investment regulations.
Details of the tax and legal systems in the country.
Executive summary
Timetric’s '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 operations of insurance and reinsurance companies and intermediaries.
The report brings together Timetric’s 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.
Scope
This report covers details of the insurance regulatory framework in Bermuda.
The report contains details of rules and regulations governing insurance products and insurance entities.
The report lists and analyzes key trends and developments pertaining to the Bermudian insurance regulatory framework.
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The repot analyzes rules and regulations pertaining to the establishment and operation of insurance business in the country.
The report provides details of taxation imposed on insurance products and companies.
Reasons to buy
Gain insights into the insurance regulatory framework in Bermuda.
Track latest regulatory changes and expected changes impacting the Bermudian insurance industry
Gain detailed information about key regulations governing the establishment and operation of insurance entities in the country
Understand key regulations and market practices relating to various types of insurance product.
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Key highlights
The Bermuda Monetary Authority (BMA) is the government regulatory body supervising and regulating the Bermudian insurance and reinsurance industry.
Composite insurers are permitted in the Bermudian insurance industry.
FDI up to 100% is permitted in the insurance industry of Bermuda.
Health insurance, motor third-party liability insurance and workmen’s compensation 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.
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Source: EmailWire.Com 
Source: EmailWire.com
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