Bosnia and Herzegovina Insurance Industry - Governance, Risk and Compliance

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 Regulation
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 Personal accident liability insurance for passengers on public transport
2.4.3 Third-party liability insurance for aircraft operators
2.4.4 Third-party liability insurance for motor boats and ships
2.4.5 Professional indemnity insurance for insurance intermediaries
2.5 Supervision and Control
2.5.1 Insurance Agency of Bosnia and Herzegovina
2.5.2 Insurance Supervisory Agency of Federation of Bosnia and Herzegovina
2.5.3 Insurance Agency of the Republic of Srpska
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 Type 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 margin
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 (ADR)
3 APPENDIX
3.1 Methodology
3.2 Contact GlobalData
3.3 About GlobalData
3.4 GlobalData's Services
3.5 Disclaimer

List of Tables
Table 1: Insurance Industry Definitions
Table 2: Bosnia and Herzegovina - Insurance Regulatory Framework Key Features
Table 3: Bosnia and Herzegovina - Life Insurance Regulatory Framework
Table 4: Bosnia and Herzegovina - Property Insurance Regulatory Framework
Table 5: Bosnia and Herzegovina - Motor Insurance Regulatory Framework
Table 6: Republic of Srpska - Bonus-malus System
Table 7: Bosnia and Herzegovina - Liability Insurance Regulatory Framework
Table 8: Republic of Srpska - Premium Rates for Passenger Vehicles
Table 9: Republic of Srpska - Premium Rates for Cargo Vehicles
Table 10: Republic of Srpska - Premium Rates for Buses
Table 11: Republic of Srpska - Premium Rates for Towing Vehicles
Table 12: Republic of Srpska - Premium Rates for Special Motor Vehicles
Table 13: Republic of Srpska - Premium Rates for Motorcycles
Table 14: Republic of Srpska - Premium Rates for Trailer Vehicles
Table 15: Republic of Srpska - Premium Rates for service vehicle in auto workshop for washing and lubrication of vehicles
Table 16: Republic of Srpska - Premium Rates for Working Vehicles
Table 17: Republic of Srpska - Premium Rates for Working Vehicles
Table 18: Republic of Srpska - Minimum Coverage for Aircraft Third-Party Liability Per Accident and Aircraft
Table 19: Bosnia and Herzegovina - Corporate Tax Rates for the Financial Year 2020

List of Figures
Figure 1: Bosnia and Herzegovina - Insurance Supervision and Control at Various Levels
Figure 2: Bosnia and Herzegovina - Insurance Regulatory Frameworks for Company Registration and Operation