Governance, Risk and Compliance - The Kyrgyz Insurance Industry

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 Civil liability insurance for carriers of dangerous goods
2.4.2 Civil liability insurance for hazardous manufacturing facilities
2.4.3 Health insurance for foreign citizens and stateless persons
2.4.4 Employers' liability insurance
2.4.5 Civil liability insurance for the carriers of passengers
2.4.6 Insurance for premises from the fire and natural disasters
2.4.7 Life and health insurance for servicemen and military persons
2.4.8 Motor third-party liability insurance
2.5 Supervision and Control
2.5.1 Financial Service Authority - FSA
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: Kyrgyzstan - Insurance Regulatory Framework Key Features
Table 3: Kyrgyzstan - Life Insurance Regulatory Framework
Table 4: Kyrgyzstan - Property Insurance Regulatory Framework
Table 5: Kyrgyzstan - Insurance premium rates for different types of crops
Table 6: Kyrgyzstan - Motor Insurance Regulatory Framework
Table 7: Kyrgyzstan - Liability Insurance Regulatory Framework
Table 8: Kyrgyzstan - Insurance premium for policies less than one year
Table 9: Kyrgyzstan - Minimum sum insured for different types of hazardous production facilities
Table 10: Kyrgyzstan - Insurance rates for different types of occupational risk classes
Table 11: Kyrgyzstan - Insurance premium for policies less than one year
Table 12: Kyrgyzstan - Coefficient factor for road transport
Table 13: Kyrgyzstan - Insurance premium for policies less than one year
Table 14: Kyrgyzstan - Coefficient for different types of vehicles
Table 15: Kyrgyzstan - Coefficient depending on age and experience of the driver
Table 16: Kyrgyzstan - Bonus-Malus System
Table 17: Kyrgyzstan - Coefficient depending upon the term of insurance
Table 18: Kyrgyzstan - Corporate Tax Rates for the Financial Year 2019

List of Figures
Figure 1: Kyrgyzstan - Insurance Regulatory Frameworks for Company Registration and Operation