ISN Market Guides by country provide detailed information on local insurance requirements including compulsory coverages, legislation, supervision, non-admitted insurance, main classes, product information, and more. What insurance professionals are saying and how the Market Guides help…
“I have had a look through and agree with others that these are good summaries of the key information that insurance companies often require when we are writing international programmes. They highlight the areas that we need to investigate further should we wish to proceed and I believe are a little more specific in the way they are written on occasions than your main competitor!”~ A-MJ, major global carrier
“There are significant difficulties for buyers on the regulatory side, especially when it comes to integrating local risks into global programmes. Across virtually all of Latin America, non-admitted legislation is strictly enforced by the authorities. This is the case in Brazil, Mexico, Argentina, Chile, Peru and Colombia, the most important markets for multinational companies today.”~ Paul Bitner, managing director and Americas regional director at Brokerslink network, said at an event sponsored by MAPFRE GLOBAL RISKS and Clyde & Co.
“Understanding a country’s local insurance regulations ensures that you are knowledgeable to act and advise within a country’s:
Choosing not to understand or not to act within a country’s local insurance regulations ensures that you and your client are at risk of acting illegally in a given country, which in turn can cause taxes, fines and penalties, including jail to be levied.”~ Antoinette “Toni” Gambonini, international risk management consultant
- Compulsory local country coverage requirements
- Admitted local country coverage requirements
- Appropriate local tax requirements at the time of binding coverage and of paying of claims
“In a changing world the last thing a decision maker needs is out of date information on compliance, regulation and taxation aspects of their worldwide insurance protection. Penalties, fines, job losses and uncovered claims can result. ISN’s Country Insurance Market Information provides up to date information clearly and concisely.”~ George Worsley, ACII, Chartered Insurance Practitioner
Note: Information contained in IRL Resources has been obtained from a number of sources. As legislation, regulation, market practice and characteristics are constantly changing, we cannot accept responsibility for any inaccuracies or any decisions or action taken on the basis of such information. We recommend local advice be sought before any action or decisions are taken.
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