Governance, Risk and Compliance – The Ecuadorian Insurance Industry
Timetric’s 'Governance, Risk and Compliance – The Ecuadorian Insurance Industry' report is the result of extensive research into the insurance regulatory framework in Ecuador.
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 Timetric’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 Ecuador, including:
An overview of the insurance regulatory framework in Ecuador.
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 Ecuador.
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.
The report covers details of the insurance regulatory framework in Ecuador.
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.
Reasons To Buy
Gain insights into the insurance regulatory framework in Ecuador.
Track the latest regulatory changes, and expected changes impacting the 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.
The SBS does not permit composite insurance in the country. However, composite insurers established prior to 1998 can offer both life and non-life insurance products.
Non-admitted insurance is not permitted in the country and any such market practice is liable for legal action.
A favorable foreign direct investment environment and limited barriers to entry encourage international insurers to enter Ecuador.
New increased capital requirements could compel smaller insurers to merge with the larger ones.
Traffic accident insurance, general insurance under the Social Security Act, and aviation insurance are compulsory.