Market Research Report
Governance, Risk and Compliance - The Mexican Insurance Industry
|Published by||GlobalData||Product code||336235|
|Published||Content info||60 Pages
Delivery time: 1-2 business days
|Governance, Risk and Compliance - The Mexican Insurance Industry|
|Published: December 5, 2019||Content info: 60 Pages||
The Comision Nacional de Seguros y Fianzas (CNSF) is an autonomous body of the Secretaria de Hacienda y Credito Publico (SHCP) that regulates and governs the Mexican insurance industry. The CNSF was established on January 3, 1990 to ensure the stability and efficient functioning of the insurance industry. The SHCP is instrumental in licensing insurance entities, setting insurance policy and introducing regulation. It always takes advice from the CNSF before taking any decision relevant to licensing or regulation formulation. The CNSF is responsible for checking the financial stability of insurance companies, and supervising insurance operations in the country.
Rules and regulations to govern the Mexican insurance industry are stipulated in the Insurance Contract Law and the Insurance and Surety Institutions Law. The Insurance Contract Law was enacted on August 31, 1935. The Insurance and Surety Institutions Law that was introduced on April 4, 2013, came into force in 2015.
The report "Governance, Risk and Compliance - Mexican Insurance Industry" is the result of extensive research into the insurance regulatory framework in Mexico. It provides detailed analysis of the insurance regulations for life, property, motor, liability, personal accident and health, and marine, aviation and transit insurance. The report specifies various requirements for the establishment and operation of insurance and reinsurance companies and intermediaries.
The report brings together research, modeling and analysis expertise, giving insurers access to information on prevailing insurance regulations, and recent and upcoming changes in the regulatory framework, taxation and legal system in the country. The report also includes the scope of non-admitted insurance in the country.