Compliance Challenges for Multinationals – Insurance Premium Taxation & Case Study
Part 1 – Compliance Challenges for Multinationals – Insurance Premium Taxation
Increasing compliance burdens add further complexity to today’s multinational insurance business.
Additional reporting requirements on policyholders, plus evolving programme structures, can place the onus of compliance on the insurance buyer.
Our session aims to provide Risk Managers, and all those involved in global insurance programmes, with the knowledge and confidence to understand and address implications of non compliance, and areas of key concern to a Risk Manager.
Looking at the varying elements and structures of global insurance programmes, across non-life business, we will highlight responsibilities of the various parties to the transaction, as well as identify key considerations to ensure compliance by all parties.
We will also consider the end to end process of a master controlled programme: collation of underwriting information required for compliance; premium allocation process; the implications to the insurance buyer associated with non-admitted or DIC-DIL coverage and financial interest clauses.
Aimed at those with some experience of multinational insurance programmes.
Part 2 – Case Study
Increasing compliance burdens add further complexity to today’s multinational insurance business, and the factors in structuring a global programme.
In this case study we will be considering all of the factors that may determine a programme structure, including non admitted insurance, DIC-DIL coverage, financial interest clauses, the location of the insurer and the footprint of the insurance buyer.
Supporting the decision making process, TMF Group’s software IPT Quote will provide the information and framework for determining the structure of the programme, and highlighting any implications to the policyholder, broker and insurer of compliance and reporting requirements.
Our session aims to provide Risk Managers, and all those involved in global insurance, with the knowledge and confidence to understand and address the implications of non compliance in the complex arena of insurance premium taxes, and also identify the differing responsibilities across all parties, of a master controlled global programme.
Aimed at those with some experience of multinational insurance programmes.