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Governance, Risk and Compliance - The Honduran Insurance Industry

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  • 47 Pages
  • February 2020
  • Region: Honduras
  • GlobalData
  • ID: 3350623
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'Governance, Risk and Compliance - Honduran Insurance Industry' report is the result of extensive research into the insurance regulatory framework in Honduras.

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 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.

Key Highlights

  • The Honduran insurance industry is regulated by the Central bank of Honduras.
  • Composite insurers are permitted in the Honduran insurance industry.
  • 49% FDI is permitted in the Honduran insurance industry.
  • Aviation liability insurance, motor third-party liability insurance and professional indemnity insurance for insurance agents and brokers are the key classes of compulsory insurance.
  • Non-admitted insurers and intermediaries are not permitted in the Honduran insurance industry.

The report provides insights into the governance, risk and compliance framework pertaining to the insurance industry in Honduras, including:
  • An overview of the insurance regulatory framework in Honduras.
  • 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 Honduras.
  • 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.

  • The report covers details of the insurance regulatory framework in Honduras.
  • 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
  • Gain insights into the insurance regulatory framework in Honduras.
  • Track the latest regulatory changes, and expected changes impacting Hondurasn 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.

Table of Contents

  • Introduction
  • What Is This Report About?
  • Definitions
  • Governance, Risk And Compliance
  • Legislation Overview And Historical Evolution
  • Latest Changes In Regulation
  • Legislation And Market Practice By Type Of Insurance
  • Life Insurance
  • Property Insurance
  • Motor Insurance
  • Liability Insurance
  • Marine, Aviation And Transit Insurance
  • Personal Accident And Health Insurance
  • Compulsory Insurance
  • Social Insurance System
  • Motor Third-Party Liability Insurance
  • Professional Indemnity Cover For Insurance Agents And Brokers
  • Aviation Liability Insurance
  • Supervision And Control
  • Association Of Insurance Supervisors Latin America
  • Central Bank Of Honduras
  • National Banking And Insurance Commission
  • Non-Admitted Insurance Regulations
  • Overview
  • Intermediaries
  • Market Practices
  • Fines And Penalties
  • Company Registration And Operations
  • Type Of Insurance Organization
  • Establishing A Local Company
  • Foreign Ownership
  • Types Of License
  • Capital Requirements
  • Solvency Margin
  • Reserve Requirements
  • Investment Regulations
  • Statutory Return Requirements
  • Fee Structure
  • Taxation
  • Insurance Premium Or Policy Taxation
  • Withholding Taxes On Premium Paid Overseas
  • Corporate Tax
  • Vat
  • Captives
  • Legal System
  • Introduction
  • Access To Court
  • Alternative Dispute Resolution (Adr)
  • Appendix
  • Methodology
  • Contact
  • About
  • Disclaimer

List Of Tables
  • Table 1: Insurance Industry Definitions
  • Table 2: Honduras - Insurance Regulatory Framework Key Features
  • Table 3: Honduras - Life Insurance Regulatory Framework
  • Table 4: Honduras - Property Insurance Regulatory Framework
  • Table 5: Honduras - Motor Insurance Regulatory Framework
  • Table 6: Honduras - Liability Insurance Regulatory Framework
  • Table 7: Honduras - Corporate Tax Rates For The Financial Year 2019

List Of Figures
  • Figure 1: Honduras - Insurance Supervision And Control At Various Levels
  • Figure 2: Honduras - Insurance Regulatory Frameworks For Company Registration And Operation