Governance, Risk and Compliance - The Honduran Insurance Industry Overview, Trends, Growth Opportunities & Forecast

The market for Risk and Compliance is growing with the expansion of this Industry Sector Worldwide. Market Research Hub (MRH) has added a new report titled “Governance, Risk and Compliance - The Honduran Insurance Industry” which offer details about the current trends as well as scope for the Insurance in the near future. This research study also covers information about the production and market share based on different active regions. Furthermore, an anticipated growth at a double-digit CAGR for the concerned sector is highlighted in the report which indicates a prosperous future.

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Timetric's 'Governance, Risk and Compliance – The Honduran Insurance Industry' report provides insights into the governance, risk and compliance framework pertaining to the insurance industry in Honduras, including:

• An overview of the insurance regulatory framework in Honduras.
• The latest key changes and changes expected in Honduran insurance regulatory framework.
• Key regulations and market practices related to different types of insurance product in the country.
• Regulations pertaining to key classes of compulsory insurance, and the scope of non-admitted insurance in Honduras.
• Key GRC parameters including licensing requirements, permitted foreign direct investment, minimum capital requirements, solvency requirements, reserve requirements, and investment regulations.
• Details of the country''s tax and legal systems.

Executive summary

Timetric’s 'Governance, Risk and Compliance - The Honduran Insurance Industry' report is the result of extensive research into the insurance regulatory framework in Honduras. 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 operations 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, recent and upcoming changes in regulatory framework, taxation and legal system in the country. The report also includes the scope of non-admitted insurance in the country.

Scope

• This report covers details of the insurance regulatory framework in Honduras.
• The report contains details of regulations governing insurance products and insurance entities.
• The report lists and analyzes key trends and developments pertaining to the Honduran insurance regulatory framework.
• The report analyzes teh 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.

Reasons to buy

• Gain insights into the insurance regulatory framework in Honduras.
• Track latest regulatory changes and expected changes impacting the Honduran 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.

Key highlights

• The Honduran insurance industry is regulated by the Central bank of Honduras.
• Composite insurers are permitted in the Honduran insurance industry.
• 49% FDI is permitted in the Honduran insurance industry.
• Aviation liability insurance and professional indemnity insurance for insurance agents and brokers are the key classes of compulsory insurance in the Honduran insurance industry.
• Non-admitted insurers and intermediaries are not permitted in the Honduran insurance industry.

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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 Automobile liability insurance
2.4.2 National Health Insurance (NHI)
2.5 Supervision and Control
2.5.1 Insurance Bureau

2.6 Non-Admitted Insurance Regulations
2.6.1 Overview
2.6.2 Intermediaries
2.6.3 Market practices
2.6.4 Fines and penalties
2.7 Company Registration and Operations
2.7.1 Types of insurance organization
2.7.2 Establishing a local company
2.7.3 Foreign ownership
2.7.4 Types of license
2.7.5 Capital requirements
2.7.6 Solvency margins
2.7.7 Reserve requirements

Continue…

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