Comoros’ Regulatory Compliance Frameworks Under Scrutiny
A new report by ResearchAndMarkets.com has shed light on the complex regulatory landscape governing Comoros’ insurance industry. The “Governance, Risk and Compliance - The Comorian Insurance Industry” report provides a comprehensive analysis of the country’s insurance regulations, highlighting key requirements for insurers, intermediaries, and other stakeholders.
Regulatory Landscape
The Comorian insurance industry is regulated by both the CRCA at the regional level and the BCC at the national level. Some notable regulatory requirements include:
- Composite insurance is not permitted in the country
- Insurance companies from CIMA member states are allowed to operate without a license
- 100% foreign direct investment (FDI) is permitted in the Comorian insurance industry
Compulsory Insurance Classes
The report highlights key classes of compulsory insurance, including:
- Motor third-party liability insurance
- Professional indemnity insurance for insurance intermediaries
Supervision and Control Mechanisms
The report provides an overview of the supervision and control mechanisms in place to ensure compliance with regulatory requirements.
Other Topics Covered
The report also covers other topics, such as:
- Legislation and market practice by type of insurance
- Non-admitted insurance regulations
- Company registration and operations
- Taxation
- Legal system
Valuable Resource for Insurers
The report brings together research, modeling, and analysis expertise, providing insurers with access to information on prevailing insurance regulations, recent changes, and upcoming developments in the regulatory framework. It is a valuable resource for anyone seeking to understand the complex regulatory landscape governing Comoros’ insurance industry.
Companies Mentioned
Some of the companies mentioned in the report include:
- Africa Re
- Cica Re
- Zep Re
For more information about this report, please visit www.researchandmarkets.com/Research/PJ3TK6/comorian?w=4.