Ecuadorian Insurance Industry size and Key Trends in terms of volume and value 2017

PUNE, MAHARASHTRA, INDIA, May 2, 2018 /EINPresswire.com/ -- Synopsis

'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 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.
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Summary
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.
Scope
• The report covers details of the insurance regulatory framework in Ecuador.
• 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.
Reasons To Buy
• Gain insights into the insurance regulatory framework in Ecuador.
• Track the latest regulatory changes, and expected changes impacting the Ecuadorian 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.
Key Highlights
• 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, with non-compliance punishable by 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 larger ones.
• Traffic accident insurance, general insurance under the Social Security Act, and aviation insurance are compulsory.

Table of Contents
1 Introduction
1.1 What is this Report About?
1.2 Definitions
2 Governance, Risk and Compliance
2.1 Legislation Overview and Historical Evolution
2.2 Latest Changes in Regulations
2.3 Legislation and Market Practice by Type of Insurance
2.3.1 Life insurance
2.3.2 Property insurance
2.3.3 Motor insurance
2.3.4 Liability insurance
2.3.5 Marine, aviation and transit insurance
2.3.6 Personal accident and health insurance
2.4 Compulsory Insurance
2.4.1 Traffic accident insurance
2.4.2 General insurance under the Social Security Act
2.4.3 Aviation insurance
2.4.4 Fire insurance for condominiums
2.4.5 Social security system
.Continued
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About Us
Wise Guy Reports is part of the Wise Guy Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe. Wise Guy Reports understand how essential statistical surveying information is for your organization or association. Therefore, we have associated with the top publishers and research firms all specialized in specific domains, ensuring you will receive the most reliable and up to date research data available.

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