Belgium Insurance Industry - Governance, Risk and Compliance

The analyst's ‘Belgium Insurance Industry - Governance, Risk and Compliance’ report is the result of extensive research into the insurance regulatory framework in Belgium.
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 the analyst’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.

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

• An overview of the insurance regulatory framework in Belgium.
• 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 the country.
• 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.

Key Highlights

• The National Bank of Belgium and the Financial Services and Markets Authority regulate and supervise the Belgian insurance industry.
• The new Solvency II regime became effective from January 1, 2016.
• Composite insurance is not permitted in Belgium. However, composite insurers established prior to the introduction of this legal prohibition in 1992 are permitted to continue their operations.
• Motor third-party liability insurance, aviation liability insurance, and workers compensation insurance are the key compulsory classes of insurance in Belgium.
• Non-admitted insurance is prohibited in Belgium. However, insurance and reinsurance companies from EEA and EU Member States are permitted to operate without a license.

Scope

• The report covers details of the insurance regulatory framework in Belgium.
• The report contains details of the rules and regulations governing insurance products and insurance 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 insurance companies.

Reasons to Buy

• Provides FAQ-style analytical insights comprising 129 knowledge elements on insurance compliance applicable to the country.
• Gain insights into the insurance regulatory framework in Belgium.
• Track the latest regulatory changes, and expected changes impacting the Belgium 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.