Governance, Risk and Compliance - The Taiwanese Insurance Industry Outlook & Deep Study of Top Consumers, Players and Strategies

A fresh report has been added to the wide database of Market Research Hub (MRH). The research study is titled “Governance, Risk and Compliance - The Taiwanese Insurance Industry” which encloses important data about the production, consumption, revenue and market share, merged with information related to the market scope and product overview. The report anticipates that the sector for Insurance would rise at a positive CAGR during the period 2017-2022.

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

• An overview of the insurance regulatory framework in Taiwan.
• The latest key changes, and changes expected in the insurance regulatory framework in the country.
• 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 Taiwan.
• 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.

Executive summary

Market Research Hub’s ' Governance, Risk and Compliance – The Taiwanese Insurance Industry' report is the result of extensive research into the insurance regulatory framework in Taiwan. 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 current insurance regulations, recent and upcoming changes in the regulatory framework, and the taxation and legal systems in the country. The report also includes the scope of non-admitted insurance in Taiwan.

Scope

• This report covers details of the insurance regulatory framework in Taiwan.
• The report contains details of the rules and regulations governing insurance products and insurance entities.
• The report lists and analyzes key trends and developments relating to Taiwan's insurance regulatory framework.
• The report analyzes the rules and regulations relating to the establishment and operation of insurance businesses in the country.
• The report provides details of taxation applicable to insurance products and companies.
• The legal system in Taiwan is also covered in the report.

Reasons to buy

• Gain insights into the insurance regulatory framework in Taiwan.
• Track latest regulatory changes, and expected changes impacting the Taiwanese 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 relating to various types of insurance product.

Key highlights

• The Insurance Bureau (IB) is responsible for regulating and supervising the Taiwanese insurance industry.
• 100% FDI is permitted in the Taiwanese insurance industry.
• The placement of non-admitted insurance and reinsurance is not permitted in the Taiwanese insurance industry.
• Composite insurers are not permitted in the Taiwanese insurance industry.
• Insurance policies issued in the country are subject to premium tax at a rate of 2%.

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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
2.7.8 Investment regulations
2.7.9 Statutory return requirements
2.7.10 Fee structure

2.8 Taxation
2.8.1 Insurance premium or policy taxation
2.8.2 Withholding taxes on premium paid overseas
2.8.3 Corporate tax
2.8.4 VAT
2.8.5 Captives
2.9 Legal System
2.9.1 Introduction
2.9.2 Access to court
2.9.3 Alternative dispute resolution (ADR)

Continue…

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