Changes to the legislative framework
The regulatory authorities are planning to amend the insurance code in order to strengthen the companies' control. Insurance companies will now be required to maintain a level of capital proportional to the volume of business underwritten for each class of business.
This new system of control highlights the level of debt and commitments, inflation and monetary values of policies. This approach is designed to align local insurance with international standards and to strengthen the market.
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Tue, 09/07/2013 - 09:19
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