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This paper examines the Insurance Regulation and Supervision for Cyprus’s Financial Sector Assessment Program. The domestic nonlife market is dominated by motor insurance which accounted for 58 percent of net premiums. All Cypriot business is reinsured with nondomiciled reinsurers. Health insurance is regulated as nonlife business when written as add-ons to accident and sickness or as life business when written with life policies. A number of professional bodies and self-regulatory industry associations complement the regulatory regime for the insurance industry.

Finance: General --- Insurance --- Industries: Financial Services --- Business and Financial --- Pension Funds --- Non-bank Financial Institutions --- Financial Instruments --- Institutional Investors --- Insurance Companies --- Actuarial Studies --- General Financial Markets: Government Policy and Regulation --- Bankruptcy --- Liquidation --- Finance --- Insurance & actuarial studies --- Financial services law & regulation --- Insurance companies --- Solvency --- Insurance supervision --- Financial Sector Assessment Program --- Financial institutions --- Financial sector policy and analysis --- Financial regulation and supervision --- Debt --- Nonbank financial institutions --- Law and legislation --- Financial services industry --- Cyprus

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This paper discusses a Detailed Assessment of the Observance of the Insurance Core Principles for Italy. The assessment reveals that insurance supervision in Italy occurs within a legal framework that incorporates the relevant European Union Directives. More than two-thirds of the principles have been assessed as being observed or largely observed. Furthermore, the authorities in Italy are actively pursuing a number of legislative and supervisory initiatives that hold the potential to materially improve the level of observance in the near future.

Insurance --- Assurance (Insurance) --- Coverage, Insurance --- Indemnity insurance --- Insurance coverage --- Insurance industry --- Insurance protection --- Mutual insurance --- Underwriting --- Finance --- State supervision --- International Monetary Fund --- Internationaal monetair fonds --- International monetary fund --- Italy --- Economic conditions --- Finance: General --- Public Finance --- Industries: Financial Services --- Business and Financial --- Pension Funds --- Non-bank Financial Institutions --- Financial Instruments --- Institutional Investors --- Insurance Companies --- Actuarial Studies --- Taxation, Subsidies, and Revenue: General --- Bankruptcy --- Liquidation --- General Financial Markets: Government Policy and Regulation --- Insurance & actuarial studies --- Public finance & taxation --- Financial services law & regulation --- Insurance companies --- Internal controls --- Solvency --- Insurance supervision --- Financial institutions --- Revenue administration --- Financial sector policy and analysis --- Financial regulation and supervision --- Revenue --- Debt --- Nonbank financial institutions --- Law and legislation

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This paper presents a detailed assessment of the observance of the Insurance Core Principles (ICP) of the International Association of Insurance Supervisors (IAIS) in Spain. The IMF, for their assessment, consulted the review of a self-assessment prepared by the General Directorate of Insurance and Pension Funds (DGSFP), comments from Private Insurance Organization and Supervision Law (LOSSP) and other secondary regulations on the insurance activity, and notes and presentations on several regulatory and supervisory issues. Also, discusses the recommended action plan and authorities’ response to the assessment.

Insurance law --- Insurance --- Assurance (Insurance) --- Coverage, Insurance --- Indemnity insurance --- Insurance coverage --- Insurance industry --- Insurance protection --- Mutual insurance --- Underwriting --- Finance --- State supervision --- International Monetary Fund --- Internationaal monetair fonds --- International monetary fund --- Finance: General --- Public Finance --- Industries: Financial Services --- Business and Financial --- Pension Funds --- Non-bank Financial Institutions --- Financial Instruments --- Institutional Investors --- Insurance Companies --- Actuarial Studies --- General Financial Markets: Government Policy and Regulation --- Taxation, Subsidies, and Revenue: General --- Insurance & actuarial studies --- Financial services law & regulation --- Public finance & taxation --- Insurance companies --- Insurance supervision --- Internal controls --- Insurance Core Principles --- Financial institutions --- Financial regulation and supervision --- Revenue administration --- Nonbank financial institutions --- Law and legislation --- Revenue --- Banks and banking --- Spain

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This report is the summary of a technical note on Supervision of Insurance of Spain and Alternative Models for an Independent Agency. It reviews the organizational alternatives for insurance supervision and discusses the advantages and disadvantages of alternative institutional arrangements. It presents various alternatives for an independent insurance supervisory agency for Spain.

Insurance --- Assurance (Insurance) --- Coverage, Insurance --- Indemnity insurance --- Insurance coverage --- Insurance industry --- Insurance protection --- Mutual insurance --- Underwriting --- Finance --- State supervision --- International Monetary Fund --- Internationaal monetair fonds --- International monetary fund --- Spain --- Economic conditions --- Banks and Banking --- Business and Financial --- Investments: General --- General Financial Markets: Government Policy and Regulation --- Insurance Companies --- Actuarial Studies --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- General Financial Markets: General (includes Measurement and Data) --- Financial services law & regulation --- Insurance & actuarial studies --- Banking --- Investment & securities --- Insurance supervision --- Financial regulation and supervision --- Financial institutions --- Securities --- Nonbank financial institutions --- Law and legislation --- Banks and banking --- Financial services industry --- Financial instruments

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This Technical Note analyzes the insurance sector in Serbia. The Serbian insurance sector remains small and underdeveloped. Over the last three years, the market experienced little growth in real terms mainly owing to weak economic growth, fierce price competition among the growing number of players, and premium payment difficulties in the industrial sector, which forced many corporate policyholders to cancel their insurance. The paper highlights that the Serbian insurance sector is well capitalized relative to its overall net risk exposure.

Financial services industry --- Insurance --- Assurance (Insurance) --- Coverage, Insurance --- Indemnity insurance --- Insurance coverage --- Insurance industry --- Insurance protection --- Mutual insurance --- Underwriting --- Finance --- Services, Financial --- Service industries --- Finance: General --- Financial Risk Management --- Industries: Financial Services --- Business and Financial --- Pension Funds --- Non-bank Financial Institutions --- Financial Instruments --- Institutional Investors --- Insurance Companies --- Actuarial Studies --- Bankruptcy --- Liquidation --- Financial Crises --- General Financial Markets: Government Policy and Regulation --- Insurance & actuarial studies --- Economic & financial crises & disasters --- Financial services law & regulation --- Insurance companies --- Solvency --- Financial crises --- Insurance supervision --- Financial institutions --- Financial sector policy and analysis --- Financial regulation and supervision --- Debt --- Nonbank financial institutions --- Law and legislation --- Serbia, Republic of