Indian Insurance Industry - Governance, Risk and Compliance

1.1 What is this Report About?
1.2 Definitions

2.1 Legislation Overview and Historical Evolution
2.2 Latest Changes in Regulation
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 Third-party liability insurance for owner of hazardous facilities
2.4.2 Motor third party liability insurance
2.4.3 Professional indemnity insurance for insurance brokers and web aggregators
2.4.4 Workmen's compensation insurance/employers’ liability insurance
2.4.5 Professional indemnity insurance for stockbrokers
2.4.6 Aviation carriers' liability insurance
2.4.7 Liability insurance for ships with respect to oil pollution
2.4.8 Mandatory insurance for emigrants (Pravasi Bharatiya Bima Yojana - PBBY)
2.5 Supervision and Control
2.5.1 International Association of Insurance Supervisors
2.5.2 Insurance Regulatory and Development Authority of India
2.5.3 The Life Insurance Council
2.5.4 The General Insurance (GI) Council
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 Type 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 margin
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)

3.1 Methodology
3.2 Contact the Publisher
3.3 About the Publisher
3.4 Services
3.5 Disclaimer

Table 1: Insurance Industry Definitions
Table 2: India - Insurance Regulatory Framework Key Features
Table 3: India - Sum Insured or Premium Limit for Electronic Policies
Table 4: India - Percentage of Allowable Expenses
Table 5: India - Payment of Commission to insurance agents and intermediaries
Table 6: India - Commission Payable on Health Insurance Policies Offered by Life Insurers
Table 7: India - Commission Payable on Health Retail Insurance Policy
Table 8: India - Commission Payable on Health Group Insurance Policy
Table 9: India - Commission Payable on Single Premium Life Policy
Table 10: India - Commission Payable on Regular Premium Life Policy
Table 11: India - Commission Payable on Non-Life Policy
Table 12: India - Life Insurance Regulatory Framework
Table 13: India - Property Insurance Regulatory Framework
Table 14: India - Motor Insurance Regulatory Framework
Table 15: India - Computation Method for Motor Accident Claims
Table 16: India - Liability Insurance Regulatory Framework
Table 17: India - Commission, Rewards and Distribution Fees for Long-term Motor Insurance Policies
Table 18: India - Premium Rates for Motor Third-Party
Table 19: India - Proposed Premium Rates for Motor Third-Party
Table 20: India - Employee Compensation Benefits
Table 21: India - Factors for Calculation of Required Solvency Margin
Table 22: India - Surcharge for the Financial Year 2020
Table 23: India - Corporate Tax Rates for the Financial Year 2020

Figure 1: India - Insurance Supervision and Control at Various Levels
Figure 2: India - Insurance Regulatory Frameworks for Company Registration and Operation
Figure 3: India - Judiciary System