Governance, Risk and Compliance - The Nepalese Insurance Industry - New Report Available

From: Fast Market Research, Inc.
Published: Mon Aug 17 2015

The report provides insights into the governance, risk and compliance framework pertaining to the insurance industry in Nepal, including:

* An overview of the insurance regulatory framework in Nepal.
* The latest key changes and changes expected in Nepal'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 Nepal.
* Key parameters including licensing requirements, permitted foreign direct investment, minimum capital requirements, solvency requirements, reserve requirements, and investment regulations.
* Details of the tax and legal systems in the country.

* The Nepalese insurance industry is governed and regulated by the Beema Samiti.
* Non-admitted insurance is prohibited by the law. However, unauthorized reinsurers may underwrite reinsurance business for risks originating in Nepal on a cross-border basis only.
* Insurance for accident at work and motor vehicle and transport management insurance are compulsory.
* The implementation of IFRS in Nepal is expected to be effective from 2016.
* Composite insurance is not permitted.
* In June 2015, the Insurance Board of Nepal proposed to increase the minimum capital requirements of insurers and reinsurers through an amendment to the insurance law.

Full Report Details at

* This report covers details of the insurance regulatory framework in Nepal.
* The report contains details of rules and regulations governing insurance products and insurance entities.
* The report lists and analyzes key trends and developments pertaining to the Nepalese insurance regulatory framework.
* The report analyzes rules and regulations pertaining to the establishment and operation of insurance business in the country.
* The report provides details of taxation imposed on insurance products and companies.

* Gain insights into the insurance regulatory framework in Nepal.
* Track latest regulatory changes and expected changes impacting the Nepalese insurance industry.
* Gain detailed information about key regulations governing the establishment and operation of insurance entities in the country.
* Understand key regulations and market practices relating to various types of insurance product.

Companies Mentioned in this Report: Nepal Insurance Company, Rastriya Beema Sansthan (RBS), Nepal Bank Ltd, Nepal Re

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