Economy June 24, 2016 | 8:50 am

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Dominican insurance industry governance, risk and compliance report 2016- research and markets

Dublin (BUSINESS WIRE).- Research and Markets has announcedthe addition of the "Governance, Risk and Compliance – The DominicanRepublic Insurance Industry" report to their offering.

The Governance, Risk and Compliance – The DominicanRepublic Insurance Industry report is the result of extensive research into theinsurance regulatory framework in Dominican Republic.

It provides detailed analysis of the insurance regulationsfor life, property, motor, liability, personal accident and health, and marine,aviation and transit insurance. The report specifies various requirements forthe establishment and operation of insurance and reinsurance companies andintermediaries.

The report brings together research, modeling and analysisexpertise, giving insurers access to information on prevailing insuranceregulations, and recent and upcoming changes in the regulatory framework,taxation and legal system in the country. The report also includes the scope ofnon-admitted insurance in the country.

Key Highlights:

– The Dominican insurance industry is regulated by theSuperintendent of Insurance.

– 100% foreign direct investment is permitted in theDominican insurance industry.

– Composite insurance is not permitted in the DominicanRepublic, although both life and non-life insurers are permitted to operateaccident and health insurance business.

– Motor third-party liability, workers’ compensation andpublic health insurance are compulsory.

– Non-admitted insurers are not permitted in the Dominicaninsurance industry.

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