Governance, Risk and Compliance - The Californian Insurance Industry

 Table of Contents

1 Introduction
1.1 What is this Report About?
1.2 Definitions

2 Governance, Risk and Compliance
2.1 Legislation Overview and Historical Evolution
2.2 Latest Changes in Regulations
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 Motor third-party liability insurance
2.4.2 Social Insurance System
2.4.3 Aviation third-party liability insurance
2.4.4 Health insurance
2.5 Supervision and Control
2.5.1 International Association of Insurance Supervisors
2.5.2 National Association of Insurance Commissioners
2.5.3 Federal Insurance Office
2.5.4 American Insurance Association
2.5.5 National Association of Mutual Insurance Companies
2.5.6 Property Casualty Insurers of America
2.5.7 Reinsurance Association of America
2.5.8 California Department of Insurance
2.5.9 Association of California Life and Health Insurance Companies
2.5.10 Personal Insurance Federation of California
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 Types 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 margins
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

3 Appendix
3.1 Methodology
3.2 Contact Timetric
3.3 About Timetric
3.4 Timetric’s Services
3.5 Disclaimer

List of Tables
Table 1: Insurance Industry Definitions
Table 2: The US – California – Insurance Regulatory Framework Key Features
Table 3: The US – California – Life Insurance Regulatory Framework
Table 4: The US – California – Property Insurance Regulatory Framework
Table 5: The US – California – TRIP Highlights
Table 6: The US – California – Motor Insurance Regulatory Framework
Table 7: The US – California – Liability Insurance Regulatory Framework
Table 8: The US – California – Statutory Membership in Insurance Associations
Table 9: The US – California – Minimum Paid-up Share Capital Requirements for Non-life Insurers
Table 10: The US – California – Minimum Paid-up Share Capital Requirements for Life Insurers
Table 11: The US – California – Authorization Fee for Insurers
Table 12: The US – California – License Fee for insurance intermediaries
Table 13: The US – California – Corporate Tax Rates for the Financial Year 2016

List of Figures
Figure 1: The US – California – Insurance Supervision and Control at Various Levels
Figure 2: The US – California – Insurance Regulatory Frameworks for Company Registration and Operation 

To request a free sample copy of this report, please complete the form below.

Enter captcha code*

We never share your personal data. Privacy policy