Latvian Insurance Industry Trends and Drivers Analysis 2016 To 2020

Synopsis 

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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Report Highlights

The Latvian insurance industry is regulated by the Financial and Capital Market Commission.

The new Solvency II standard became effective from January 1, 2016.
Non-admitted insurance is not allowed in the country. However, unlicensed insurers in EU and EEA member states are permitted to do non admitted business.
Insurance premium tax (IPT) is not levied on insurance products.
Major Scope of the report:

The report covers details of the insurance regulatory framework in Latvia.
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.
 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 Regulations 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 Motor third-party liability insurance
2.4.2 Air carriers and aircraft operators insurance
2.4.3 Professional indemnity insurance for alternative investment fund managers
2.4.4 Liability for ships with respect to oil pollution
2.4.5 Third party liability insurance for bailiffs
2.4.6 Clinical trial liability
2.4.7 Professional liability insurance for insurance intermediaries

 .Continued

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