Governance, Risk and Compliance - The US 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 Motor third-party liability insurance
2.4.2 Health insurance
2.4.3 Social insurance system
2.4.4 Aviation third-party liability 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 American Council of Life Insurers
2.6 Non-Admitted Insurance Regulation
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: The US - Insurance Regulatory Framework Key Features
Table 3: The US - Life Insurance Regulatory Framework
Table 4: The US - Property Insurance Regulatory Framework
Table 5: The US - The US TRIP Highlights
Table 6: The US - Motor Insurance Regulatory Framework
Table 7: The US - Liability Insurance Regulatory Framework
Table 8: The US - Maximum Cover for Motor Third-Party Liability Per Accident by State
Table 9: The US - California - Minimum Paid-up Share Capital Requirements for Non-life Insurers
Table 10: The US - California - Minimum Paid-up Share Capital Requirements for life Insurers
Table 11: The US - New York - Minimum Capital and Surplus Requirement
Table 12: The US - New York - Minimum Capital and Surplus Requirement for Specialty Lines Insurance
Table 13: The US - California - Authorization Fee for Insurers-2019
Table 14: The US - California - License Fee for insurance intermediaries-2019
Table 15: The US - Corporate Tax Rates for the Financial Year 2019

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