Governance, Risk and Compliance – The Floridian Insurance Industry
GlobalData’s 'Governance, Risk and Compliance – The Floridian Insurance Industry' report is the result of extensive research into the insurance regulatory framework in Florida.
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 GlobalData’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 covers details of the insurance regulatory framework in Florida.
• 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.
• The Floridian insurance industry is regulated by the OIR.
• Composite insurance is not permitted in Florida.
• 100% foreign direct investment is permitted in the Floridian insurance industry.
• Non-admitted insurance is not permitted, with a few exceptions.
• Motor third-party liability insurance is compulsory in Florida.
Reasons to Buy
• Gain insights into the insurance regulatory framework in Florida.
• Track the latest regulatory changes, and expected changes impacting the Floridian 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
1.1 What is this Report About?
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 Health insurance
2.4.4 Workers’ compensation 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 The Office of Insurance Regulations
2.6 Non-Admitted Insurance Regulations
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
2.8.1 Insurance premium or policy taxation
2.8.2 Withholding taxes on premium paid overseas
2.8.3 Corporate tax
2.9 Legal System
2.9.2 Access to court
2.9.3 Alternative dispute resolution
3.2 Contact GlobalData
3.3 About GlobalData
3.4 GlobalData’s Services
List of Tables
Table 1: Insurance Industry Definitions
Table 2: The US – Florida – Insurance Regulatory Framework Key Features
Table 3: The US – Florida – Life Insurance Regulatory Framework
Table 4: The US – Florida – Property Insurance Regulatory Framework
Table 5: The US – Florida – TRIP Highlights
Table 6: The US – Florida – Motor Insurance Regulatory Framework
Table 7: The US – Florida – Liability Insurance Regulatory Framework
Table 8: The US – Florida – Corporate Tax Rates for the Financial Year 2016
List of Figures
Figure 1: The US – Florida – Insurance Supervision and Control at Various Levels
Figure 2: The US – Florida – Insurance Regulatory Frameworks for Company Registration and Operation
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