|Report Name:||Governance, Risk and Compliance – The Venezuelan Insurance Industry|
|Issue Date:||June 2017|
|Brief:||The report provides insights into the governance, risk and compliance framework pertaining to the insurance industry in Venezuela, including:|
• An overview of the insurance regulatory framework in Venezuela.
• 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 Venezuela.
• 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.
|Key Highlights:||• The Venezuelan insurance industry is regulated by the Superintendencia de la Actividad Aseguradora.
• Composite insurance is permitted in Venezuela.
• 100% FDI is permitted in the Venezuelan insurance industry.
• Motor third-party liability, student personal accident, aviation third party liability and passenger insurance for land transit are mandatory in Venezuela.
• Non-admitted insurance is prohibited in Venezuela.
|Reasons To Buy:||• Gain insights into the insurance regulatory framework in Venezuela.
• Track the latest regulatory changes, and expected changes impacting the Venezuelan 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.||