Governance, Risk and Compliance-The Bangladeshi Insurance Industry
GlobalData’s “Governance, Risk and Compliance – The Bangladeshi Insurance Industry”, report is the result of extensive research into the insurance regulatory framework in the Bangladesh.
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 GlobalData’s 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.
The report provides insights into the governance, risk and compliance framework pertaining to the insurance industry in the Bangladesh, including –
– An overview of the insurance regulatory framework in the Bangladesh.
– 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 the Bangladesh.
– 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 Bangladeshi insurance industry is regulated by the Insurance Development and Regulatory Authority.
– The practice of non-admitted insurance is limited to reinsurance in Bangladesh.
– 60% FDI is permitted in the Bangladesh insurance industry.
– Composite insurance is not permitted in Bangladesh.
– Motor third-party liability insurance and workmen’s compensation are compulsory insurance in Bangladesh.
Source: https://amarketresearchgazette.com
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