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Report Name:Governance, Risk and Compliance - The Barbadian Insurance Industry
Issue Date:November 2015
Brief:The report provides insights into the governance, risk and compliance framework pertaining to the insurance industry in Barbados, including:

• An overview of the insurance regulatory framework in Barbados.

• The latest key changes, and changes expected in the country’s 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 Barbados.

• Key parameters including licensing requirements, permitted foreign direct investment, minimum capital requirements, solvency and reserve requirements, and investment regulations.

• Details of the tax and legal systems in the country.
Scope:• The report covers details of the insurance regulatory framework in Barbados. • The report contains details of the rules and regulations governing insurance products and insurance entities. • The report lists and analyzes key trends and developments pertaining to the country’s insurance regulatory framework. • The report analyzes the rules and regulations pertaining to the establishment and operation of insurance businesses in the country. • The report provides details of taxation imposed on insurance products and insurance companies.
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Key Highlights:• The Barbados insurance industry is regulated by the Financial Services Commission. • Motor third-party liability insurance and professional indemnity for insurance brokers are mandatory in Barbados. • Composite insurance is permitted in Barbados. • The Barbadian government permits 100% foreign direct investment. • Non-admitted insurance is prohibited in Barbados. However, if local capacity is not available, an insured can obtain insurance from non-admitted insurer.
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Reasons To Buy:• Gain insights into the insurance regulatory framework in Barbados. • Track the latest regulatory changes, and expected changes impacting the Barbadian 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.

List Of Figures List Of Tables Table of Contents


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