Chad Insurance Industry – Governance, Risk and Compliance
Chad Insurance Industry Market Report Overview
The Chad insurance industry research report provides a 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 intermedia and recent and upcoming changes in the country’s regulatory framework, taxation, and legal system and upcoming changes. The report also includes the scope of non-admitted insurance in the country.
Chad Insurance Industry Dynamics
The Chadian insurance industry is supervised by the DFEO (Direction des Finances Extérieures et Organismes) under the Ministry of Finance. The powers and responsibilities of the DFEO are prescribed under Annex II of the CIMA Treaty.
Article 326 of the CIMA Code stipulates that companies intending to operate life and non-life insurance and reinsurance businesses in Chad can start their operations after obtaining a license from the DFEO. Additionally, the article specifies that foreign insurers are permitted to operate insurance or reinsurance businesses in Chad if they comply with the provisions of the CIMA Code. Article 530 of the CIMA Code stipulates that intermediaries are required to obtain authorization from the DFEO in order to mediate insurance products in the country.
Key Bodies Overseeing the Chad Insurance Industry
The key bodies that oversee the Chad insurance industry are the International Association of Insurance Supervisors (IAIS), and the Commission Regional des Assurances (CRCA).
International Association of Insurance Supervisors (IAIS): The IAIS, established in 1994, is a membership-driven global organization that represents insurance regulators and supervisors of over 200 jurisdictions in more than 140 countries. In addition to members, the association also includes 135 observers representing industry associations, professional associations, insurers, reinsurers, consultants, and international financial institutions.
Commission Regional des Assurances (CRCA): The CRCA is the regional insurance regulatory authority for all the CIMA member states and is established under the CIMA treaty signed by the Francophone African states. As a part of various functions, the CRCA exercises control over insurance and reinsurance companies operating in the CIMA member states.
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Market Report Overview
| Key Bodies | International Association of Insurance Supervisors (IAIS), and Commission Regional des Assurances (CRCA) |
Scope
- The report covers details of the insurance regulatory framework in Chad.
- 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 Chad.
- Track the latest regulatory changes and expected changes impacting the Chad 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 about various types of insurance products.
Table of Contents
List of Tables
List of Figures
Frequently Asked Questions
The Chadian insurance industry is supervised by the DFEO (Direction des Finances Extérieures et Organismes) under the Ministry of Finance.
The key bodies that oversee the Chad insurance industry are the International Association of Insurance Supervisors (IAIS), and the Commission Regional des Assurances (CRCA).
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