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Governance, Risk and Compliance – The Botswanan Insurance Industry

41 pages report Published in Mar 2017

Synopsis
Timetric's 'Governance, Risk and Compliance - The Botswanan Insurance Industry' report is the result of extensive research into the insurance regulatory framework in Botswana.

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 Timetric's 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.

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

An overview of the insurance regulatory framework in Botswana.

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 Botswana.

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 Botswana.

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 Botswana.

Track the latest regulatory changes, and expected changes impacting the Botswanan 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 Botswanan insurance industry is regulated by the Non-Bank Financial Institutions Regulatory Authority.

Motor third-party liability, aviation and professional indemnity are all mandatory insurance classes of insurance in Botswana.

Composite insurance is not permitted in Botswana. However, life insurance companies are permitted to operate in accident and health insurance business.

100% foreign direct investment is permitted in the Botswanan insurance industry.

Non-admitted insurance is prohibited. However, risks not covered by local insurers can be insured by unauthorized insurers.

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