DUBLIN--(BUSINESS WIRE)--The "Governance, Risk and Compliance - The Guatemalan Insurance Industry" report has been added to ResearchAndMarkets.com's offering.
The 'Governance, Risk and Compliance - The Guatemalan Insurance Industry' report is the result of extensive research into the insurance regulatory framework in Guatemala.
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 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.
Key Highlights:
- The Guatemalan insurance industry is regulated by the Superintendency of Banks. It aims to promote stability and confidence in the financial system of the country.
- Law on Insurance Activity, which came into force on January 1, 2011, aims to bring local insurance companies in line with international standards.
- Compulsory Social Security Insurance provides health and accident insurance benefits to citizens of Guatemala.
- Stamp duty is imposed at rate of 3% on insurance products. However, reinsurance products are exempt from stamp duty.
- Non-admitted insurance is not permitted in Guatemalan insurance industry. However, non-admitted insurance is permitted for insurance contracts relating to marine, cargo, goods in transit, reinsurance on cross border basis only.
Key Topics Covered:
1 INTRODUCTION
2 GOVERNANCE, RISK AND COMPLIANCE
2.1 Legislation Overview and Historical Evolution
2.2 Latest Changes in Regulation
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 about this report visit https://www.researchandmarkets.com/research/94dxnq/guatemalan?w=4
