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Burkina Faso Insurance Industry - Governance, Risk and Compliance

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 Professional indemnity insurance for insurance intermediaries
2.4.3 Worker's compensation
2.5 Supervision and Control
2.5.1 International Association of Insurance Supervisors
2.5.2 Commission Régionale de Contrôle des Assurances
2.5.3 Directions Nationales des Assurances
2.6 Non-Admitted Insurance Regulations
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: Burkina Faso - Insurance Regulatory Framework Key Features
Table 3: Burkina Faso- Intermediary Remuneration Rates
Table 4: Burkina Faso- Life Insurance Regulatory Framework
Table 5: Burkina Faso- Property Insurance Regulatory Framework
Table 6: Burkina Faso - Motor Insurance Regulatory Framework
Table 7: Burkina Faso - Liability Insurance Regulatory Framework
Table 8: Burkina Faso - Insurance Premium Tax Rates
Table 9: Burkina Faso - Corporate Tax Rates for the Financial Year 2020

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