Flashback: the year 2013 in review, regulation

Atlas Magazine offers you the best of the insurance events in 2013 . This flashback reviews the new regulations of the past year¹.

Regulation

January
Morocco: Adoption of compulsory insurance scheme for natural and man-made catastrophes
February
Zambia: Institution of compulsory motor third party liability insurance
April
Middle East: A project for a single motor insurance policy to be implemented in Gulf countries Nigeria: Insurers came under pressure with entry into force of the «no insurance without premium settlement rule» Sri Lanka: Amendment of the insurance code
May
Saudi Arabia: Saudi joins the motor insurance program “orange card” Ethiopia: A directive from the National Bank of Ethiopia (NBE) setting minimum capital required from insurers to operate Morocco: Two new insurance obligations: Contractors’ all risks and decennial liability
June
Algeria: Ten new foreign reinsurance brokers authorized to operate on the Algerian market India: Insurance Regulatory and Development Authority (IRDA) approves of the 20% increase in health insurance tariffs.
July
Saudi Arabia: SAMA is reorganising United Arab Emirates: New anti-seismic construction standards and norms adopted following Iran’s earthquake Qatar: Drafting a new construction code
October
Tunisia: Motor insurance tariffs go up by 5% as of September 2, 2013
November
Tunisia: FTUSA conducts a study designed for the elaboration of a five-year insurance program 2013-2017 Oman: Sanctions against 20 insurers for breaching the insurance code
December
Europe: Agreement on Solvency II rules between the European Union and insurers Qatar: Modification of insurance code with a view to align local practices with those applied on international market

¹ For the sake of an easier access to the entire articles on the website, events shall follow the date of their publication in Atlas Magazine and not the date of their occurrence.

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Fri, 14/03/2014 - 14:12

Flashback: the year 2013 in review, regulation

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