Governance, Risk and Compliance – The Slovakian Insurance Industry

Date: 2016-01

“• The Slovakian insurance industry is regulated by the National Bank of Slovakia.

• 100% foreign direct investment (FDI) is permitted in the Slovakian insurance industry.

• Composite insurance is not permitted in Slovakia. However, insurers operating life insurance business are allowed to operate in personal accident and health insurance classes, and vice versa.

• Key classes of compulsory insurance include motor third-party liability, and air carrier and aviation liability.

• Solvency II, which will introduce new risk management standards, is expected to be implemented in 2016.”


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