Governance, Risk and Compliance – The Botswanan Insurance Industry
Timetric’s 'Governance, Risk and Compliance – The Botswanan Insurance Industry' report is the result of extensive research into the insurance regulatory framework in Botswana.
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 Botswana, including:
- An overview of the insurance regulatory framework in Botswana.
- 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 Botswana.
- 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.
Reasons To Buy
- The report covers details of the insurance regulatory framework in Botswana.
- The report contains details of the rules and regulations governing insurance products and 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 companies.
- Gain insights into the insurance regulatory framework in Botswana.
- Track the latest regulatory changes, and expected changes impacting the Botswanan 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 Botswanan insurance industry is regulated by the Non-Bank Financial Institutions Regulatory Authority.
- Motor third-party liability, aviation and professional indemnity are all mandatory insurance classes of insurance in Botswana.
- Composite insurance is not permitted in Botswana. However, life insurance companies are permitted to operate in accident and health insurance business.
- 100% foreign direct investment is permitted in the Botswanan insurance industry.
- Non-admitted insurance is prohibited. However, risks not covered by local insurers can be insured by unauthorized insurers.
- What is this Report About?
- Table Insurance Industry Definitions
- Governance, Risk and Compliance
- Table Botswana- Insurance Regulatory Framework Key Features
- Legislation Overview and Historical Evolution
- Latest Changes in Regulation
- Legislation and Market Practice by Type of Insurance
- Life insurance
- Table Botswana - Life Insurance Regulatory Framework
- Property insurance
- Table Botswana - Property Insurance Regulatory Framework
- Motor insurance
- Table Botswana- Motor Insurance Regulatory Framework
- Liability insurance
- Table Botswana - Liability Insurance Regulatory Framework
- Marine, aviation and transit insurance
- Personal accident and health insurance
- Compulsory Insurance
- Workers' compensation
- Motor third-party liability insurance
- Professional indemnity insurance
- Aviation liability insurance
- Supervision and Control
- International Association of Insurance Supervisors
- Non-Bank Financial Institutions Regulatory Authority
- Non-Admitted Insurance Regulations
- Market practices
- Fines and Penalties
- Company Registration and Operations
- Type of insurance organization
- Establishing a local company
- Foreign ownership
- Types of license
- Capital requirements
- Solvency margin
- Reserve requirements
- Investment regulations
- Statutory return requirements
- Fee structure
- Insurance premium or policy taxation
- Withholding taxes on premium paid overseas
- Corporate tax
- Table Botswana - Corporate Tax Rates for the Financial Year 2017
- Legal System
- Access to court
- Alternative dispute resolution
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