Financial Sector Assessment Program Update - Albania : Insurance Core Principles
This assessment of Albania's compliance with the International Association of Insurance Supervisors (IAIS) Insurance Core Principles (ICP) was carried out as part of the 2013 Financial Sector Assessment Program (FSAP). Although this is the sec...
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| Format: | Financial Sector Assessment Program (FSAP) |
| Language: | English en_US |
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World Bank, Washington, DC
2014
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2014/02/19768307/albania-insurance-core-principles-detailed-assessment-observance http://hdl.handle.net/10986/19297 |
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okr-10986-19297 |
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oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCOUNTANT ACCOUNTING ACCOUNTING STANDARDS ACTUARIAL REPORTS ACTUARIES AGENTS ALLOCATION ANNUAL FINANCIAL STATEMENTS APPLICATIONS ASSETS ASSURANCE AUDIT COMMITTEE AUDITORS BALANCE SHEETS BROKERAGE BROKERS CAPITAL ADEQUACY CAPITAL INVESTMENT CAPITAL REQUIREMENT CAPITAL REQUIREMENTS CATASTROPHE INSURANCE CATASTROPHE REINSURANCE CEDANTS CHECKS CIVIL CODE CLIMATE CLIMATE CHANGE COINSURANCE COLLATERAL COMMERCIAL BANKS COMMERCIAL REGISTRY COMMISSIONS COMPENSATION COMPENSATION FUND COMPULSORY INSURANCE CONFIDENTIALITY CONFLICT OF INTEREST CONSUMER PROTECTION CONSUMERS CORPORATE GOVERNANCE CREDIBILITY CREDIT LIFE INSURANCE CREDIT QUALITY CREDIT RATINGS CREDITORS CURRENCY DAMAGES DEPOSIT DISASTERS DISCLOSURE OF INFORMATION DISCLOSURE REQUIREMENTS DISCOUNT RATES DISPOSABLE INCOMES DURATION MATCHING EARTHQUAKE INSURANCE ECONOMIC ACTIVITY ECONOMIC CONDITIONS ECONOMIC GROWTH EXPENSE RATIO EXPENSE RATIOS FEE INCOME FINANCIAL INFORMATION FINANCIAL MARKETS FINANCIAL REPORTING FINANCIAL RESOURCES FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL STATEMENT FINANCIAL SUPERVISION FOREIGN COMPANIES FOREIGN INSURERS FOREIGN INVESTORS FRAUD FUNDING OF RESERVES GOVERNMENT BUDGET GROSS DOMESTIC PRODUCT GUARANTEE FUND HOLDINGS HUMAN RESOURCES HUMAN RIGHTS INFORMATION DISCLOSURE INFORMATION SYSTEMS INSPECTIONS INSTITUTIONAL CAPACITY INSURANCE INSURANCE ACTIVITIES INSURANCE ACTIVITY INSURANCE CLAIMS INSURANCE COMPANIES INSURANCE COMPANY INSURANCE CONTRACTS INSURANCE COVERAGE INSURANCE EXPERTS INSURANCE FRAUD INSURANCE INDUSTRY INSURANCE LAW INSURANCE MARKET INSURANCE MARKETS INSURANCE PENETRATION INSURANCE PORTFOLIO INSURANCE PREMIUM INSURANCE PREMIUMS INSURANCE PRODUCTS INSURANCE REGULATION INSURANCE REGULATIONS INSURANCE REGULATOR INSURANCE RESERVES INSURANCE SECTOR INSURANCE SUPERVISION INSURANCE SUPERVISORS INSURER INSURERS INTEGRITY INTERNAL AUDIT INTERNAL CONTROLS INTERNATIONAL BANK INTERNATIONAL INSURANCE INTERNATIONAL INSURANCE GROUPS INTERNATIONAL STANDARDS INVESTMENT GUIDELINES INVESTMENT REGULATIONS INVESTMENT RISK LAWS LEGAL AUTHORITY LEGAL FRAMEWORK LEGAL PROTECTION LEGAL PROVISIONS LEVEL PLAYING FIELD LIABILITY LIABILITY INSURANCE LIFE INSURANCE LIFE INSURANCE COMPANY LIFE INSURANCE PREMIUM LIFE INSURANCE PREMIUMS LIFE INSURANCE PRODUCTS LIFE INSURERS LIQUID ASSETS LIQUIDITY LIQUIDITY MANAGEMENT LIQUIDITY RATIO LOAN LOAN BALANCE LOCAL BANKS LOCAL INSURANCE MARKET MARKET ASSETS MARKET DATA MARKET PARTICIPANTS MARKET PENETRATION MARKET PLAYERS MARKET SHARES MARKET STRUCTURE MARKET SUPERVISION MINIMUM CAPITAL REQUIREMENTS MITIGATION MEASURES MONEY LAUNDERING NATURAL DISASTERS NON LIFE INSURANCE NON-LIFE INSURANCE NONPERFORMING LOANS NPL OPERATIONAL INDEPENDENCE PENETRATION RATE POLICYHOLDERS PORTFOLIO PORTFOLIOS PRICE COMPETITION PRICE WAR PRIVATE INSURANCE PRIVATE SECTOR DEVELOPMENT RATE OF RETURN RATE OF RETURN ON CAPITAL RATES REGULATORS REGULATORY CONSTRAINTS REGULATORY FRAMEWORK REGULATORY PRACTICES REGULATORY REQUIREMENT REGULATORY REQUIREMENTS REINSURANCE REINSURANCE ARRANGEMENTS REINSURANCE COMPANIES REINSURANCE PREMIUMS REINSURANCE REQUIREMENTS REINSURERS RESERVE RISK EXPOSURE RISK EXPOSURES RISK INSURANCE RISK MANAGEMENT RISK MANAGEMENT POLICIES RISK MEASUREMENT RISK MITIGATION RISK PROFILE RISK TRANSFER SAVINGS SETTLEMENT SHAREHOLDER SHAREHOLDERS SOLVENCY SOLVENCY REQUIREMENTS STOCK EXCHANGE SUPERVISORY AUTHORITIES SUPERVISORY AUTHORITY SUPERVISORY BOARD SUPERVISORY POWERS SUPERVISORY REGIME TECHNICAL ASSISTANCE TERRORISM TIMELY PAYMENT TRANSACTION TRANSPARENCY TURNOVER UNDERWRITING VALUATION |
| spellingShingle |
ACCOUNTANT ACCOUNTING ACCOUNTING STANDARDS ACTUARIAL REPORTS ACTUARIES AGENTS ALLOCATION ANNUAL FINANCIAL STATEMENTS APPLICATIONS ASSETS ASSURANCE AUDIT COMMITTEE AUDITORS BALANCE SHEETS BROKERAGE BROKERS CAPITAL ADEQUACY CAPITAL INVESTMENT CAPITAL REQUIREMENT CAPITAL REQUIREMENTS CATASTROPHE INSURANCE CATASTROPHE REINSURANCE CEDANTS CHECKS CIVIL CODE CLIMATE CLIMATE CHANGE COINSURANCE COLLATERAL COMMERCIAL BANKS COMMERCIAL REGISTRY COMMISSIONS COMPENSATION COMPENSATION FUND COMPULSORY INSURANCE CONFIDENTIALITY CONFLICT OF INTEREST CONSUMER PROTECTION CONSUMERS CORPORATE GOVERNANCE CREDIBILITY CREDIT LIFE INSURANCE CREDIT QUALITY CREDIT RATINGS CREDITORS CURRENCY DAMAGES DEPOSIT DISASTERS DISCLOSURE OF INFORMATION DISCLOSURE REQUIREMENTS DISCOUNT RATES DISPOSABLE INCOMES DURATION MATCHING EARTHQUAKE INSURANCE ECONOMIC ACTIVITY ECONOMIC CONDITIONS ECONOMIC GROWTH EXPENSE RATIO EXPENSE RATIOS FEE INCOME FINANCIAL INFORMATION FINANCIAL MARKETS FINANCIAL REPORTING FINANCIAL RESOURCES FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL STATEMENT FINANCIAL SUPERVISION FOREIGN COMPANIES FOREIGN INSURERS FOREIGN INVESTORS FRAUD FUNDING OF RESERVES GOVERNMENT BUDGET GROSS DOMESTIC PRODUCT GUARANTEE FUND HOLDINGS HUMAN RESOURCES HUMAN RIGHTS INFORMATION DISCLOSURE INFORMATION SYSTEMS INSPECTIONS INSTITUTIONAL CAPACITY INSURANCE INSURANCE ACTIVITIES INSURANCE ACTIVITY INSURANCE CLAIMS INSURANCE COMPANIES INSURANCE COMPANY INSURANCE CONTRACTS INSURANCE COVERAGE INSURANCE EXPERTS INSURANCE FRAUD INSURANCE INDUSTRY INSURANCE LAW INSURANCE MARKET INSURANCE MARKETS INSURANCE PENETRATION INSURANCE PORTFOLIO INSURANCE PREMIUM INSURANCE PREMIUMS INSURANCE PRODUCTS INSURANCE REGULATION INSURANCE REGULATIONS INSURANCE REGULATOR INSURANCE RESERVES INSURANCE SECTOR INSURANCE SUPERVISION INSURANCE SUPERVISORS INSURER INSURERS INTEGRITY INTERNAL AUDIT INTERNAL CONTROLS INTERNATIONAL BANK INTERNATIONAL INSURANCE INTERNATIONAL INSURANCE GROUPS INTERNATIONAL STANDARDS INVESTMENT GUIDELINES INVESTMENT REGULATIONS INVESTMENT RISK LAWS LEGAL AUTHORITY LEGAL FRAMEWORK LEGAL PROTECTION LEGAL PROVISIONS LEVEL PLAYING FIELD LIABILITY LIABILITY INSURANCE LIFE INSURANCE LIFE INSURANCE COMPANY LIFE INSURANCE PREMIUM LIFE INSURANCE PREMIUMS LIFE INSURANCE PRODUCTS LIFE INSURERS LIQUID ASSETS LIQUIDITY LIQUIDITY MANAGEMENT LIQUIDITY RATIO LOAN LOAN BALANCE LOCAL BANKS LOCAL INSURANCE MARKET MARKET ASSETS MARKET DATA MARKET PARTICIPANTS MARKET PENETRATION MARKET PLAYERS MARKET SHARES MARKET STRUCTURE MARKET SUPERVISION MINIMUM CAPITAL REQUIREMENTS MITIGATION MEASURES MONEY LAUNDERING NATURAL DISASTERS NON LIFE INSURANCE NON-LIFE INSURANCE NONPERFORMING LOANS NPL OPERATIONAL INDEPENDENCE PENETRATION RATE POLICYHOLDERS PORTFOLIO PORTFOLIOS PRICE COMPETITION PRICE WAR PRIVATE INSURANCE PRIVATE SECTOR DEVELOPMENT RATE OF RETURN RATE OF RETURN ON CAPITAL RATES REGULATORS REGULATORY CONSTRAINTS REGULATORY FRAMEWORK REGULATORY PRACTICES REGULATORY REQUIREMENT REGULATORY REQUIREMENTS REINSURANCE REINSURANCE ARRANGEMENTS REINSURANCE COMPANIES REINSURANCE PREMIUMS REINSURANCE REQUIREMENTS REINSURERS RESERVE RISK EXPOSURE RISK EXPOSURES RISK INSURANCE RISK MANAGEMENT RISK MANAGEMENT POLICIES RISK MEASUREMENT RISK MITIGATION RISK PROFILE RISK TRANSFER SAVINGS SETTLEMENT SHAREHOLDER SHAREHOLDERS SOLVENCY SOLVENCY REQUIREMENTS STOCK EXCHANGE SUPERVISORY AUTHORITIES SUPERVISORY AUTHORITY SUPERVISORY BOARD SUPERVISORY POWERS SUPERVISORY REGIME TECHNICAL ASSISTANCE TERRORISM TIMELY PAYMENT TRANSACTION TRANSPARENCY TURNOVER UNDERWRITING VALUATION World Bank International Monetary Fund Financial Sector Assessment Program Update - Albania : Insurance Core Principles |
| geographic_facet |
Europe and Central Asia ALBANIA |
| description |
This assessment of Albania's
compliance with the International Association of Insurance
Supervisors (IAIS) Insurance Core Principles (ICP) was
carried out as part of the 2013 Financial Sector Assessment
Program (FSAP). Although this is the second FSAP for
Albania, this is the first external assessment of
Albania's compliance with the ICPs. The Albanian
Financial Supervisory Authority (AFSA) has all the
responsibility for insurance regulation and supervision in
Albania. This assessment is based upon information made
available to the assessor in preparation for and during the
November 2013 FSAP mission. The AFSA contributed its
self-assessment and a detailed update thereof at the
individual criterion level. Further sectoral information
(including responses to a questionnaire sent out in advance)
was provided before and during the mission. Comprehensive
documentation, including all relevant laws, by-laws and
regulations were: (i) available on the AFSA's web-site;
or (ii) provided to the assessor by the AFSA's management. |
| format |
Economic & Sector Work :: Financial Sector Assessment Program (FSAP) |
| author |
World Bank International Monetary Fund |
| author_facet |
World Bank International Monetary Fund |
| author_sort |
World Bank |
| title |
Financial Sector Assessment Program Update - Albania : Insurance Core Principles |
| title_short |
Financial Sector Assessment Program Update - Albania : Insurance Core Principles |
| title_full |
Financial Sector Assessment Program Update - Albania : Insurance Core Principles |
| title_fullStr |
Financial Sector Assessment Program Update - Albania : Insurance Core Principles |
| title_full_unstemmed |
Financial Sector Assessment Program Update - Albania : Insurance Core Principles |
| title_sort |
financial sector assessment program update - albania : insurance core principles |
| publisher |
World Bank, Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2014/02/19768307/albania-insurance-core-principles-detailed-assessment-observance http://hdl.handle.net/10986/19297 |
| _version_ |
1764443650893283328 |
| spelling |
okr-10986-192972021-04-23T14:03:51Z Financial Sector Assessment Program Update - Albania : Insurance Core Principles World Bank International Monetary Fund ACCOUNTANT ACCOUNTING ACCOUNTING STANDARDS ACTUARIAL REPORTS ACTUARIES AGENTS ALLOCATION ANNUAL FINANCIAL STATEMENTS APPLICATIONS ASSETS ASSURANCE AUDIT COMMITTEE AUDITORS BALANCE SHEETS BROKERAGE BROKERS CAPITAL ADEQUACY CAPITAL INVESTMENT CAPITAL REQUIREMENT CAPITAL REQUIREMENTS CATASTROPHE INSURANCE CATASTROPHE REINSURANCE CEDANTS CHECKS CIVIL CODE CLIMATE CLIMATE CHANGE COINSURANCE COLLATERAL COMMERCIAL BANKS COMMERCIAL REGISTRY COMMISSIONS COMPENSATION COMPENSATION FUND COMPULSORY INSURANCE CONFIDENTIALITY CONFLICT OF INTEREST CONSUMER PROTECTION CONSUMERS CORPORATE GOVERNANCE CREDIBILITY CREDIT LIFE INSURANCE CREDIT QUALITY CREDIT RATINGS CREDITORS CURRENCY DAMAGES DEPOSIT DISASTERS DISCLOSURE OF INFORMATION DISCLOSURE REQUIREMENTS DISCOUNT RATES DISPOSABLE INCOMES DURATION MATCHING EARTHQUAKE INSURANCE ECONOMIC ACTIVITY ECONOMIC CONDITIONS ECONOMIC GROWTH EXPENSE RATIO EXPENSE RATIOS FEE INCOME FINANCIAL INFORMATION FINANCIAL MARKETS FINANCIAL REPORTING FINANCIAL RESOURCES FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL STATEMENT FINANCIAL SUPERVISION FOREIGN COMPANIES FOREIGN INSURERS FOREIGN INVESTORS FRAUD FUNDING OF RESERVES GOVERNMENT BUDGET GROSS DOMESTIC PRODUCT GUARANTEE FUND HOLDINGS HUMAN RESOURCES HUMAN RIGHTS INFORMATION DISCLOSURE INFORMATION SYSTEMS INSPECTIONS INSTITUTIONAL CAPACITY INSURANCE INSURANCE ACTIVITIES INSURANCE ACTIVITY INSURANCE CLAIMS INSURANCE COMPANIES INSURANCE COMPANY INSURANCE CONTRACTS INSURANCE COVERAGE INSURANCE EXPERTS INSURANCE FRAUD INSURANCE INDUSTRY INSURANCE LAW INSURANCE MARKET INSURANCE MARKETS INSURANCE PENETRATION INSURANCE PORTFOLIO INSURANCE PREMIUM INSURANCE PREMIUMS INSURANCE PRODUCTS INSURANCE REGULATION INSURANCE REGULATIONS INSURANCE REGULATOR INSURANCE RESERVES INSURANCE SECTOR INSURANCE SUPERVISION INSURANCE SUPERVISORS INSURER INSURERS INTEGRITY INTERNAL AUDIT INTERNAL CONTROLS INTERNATIONAL BANK INTERNATIONAL INSURANCE INTERNATIONAL INSURANCE GROUPS INTERNATIONAL STANDARDS INVESTMENT GUIDELINES INVESTMENT REGULATIONS INVESTMENT RISK LAWS LEGAL AUTHORITY LEGAL FRAMEWORK LEGAL PROTECTION LEGAL PROVISIONS LEVEL PLAYING FIELD LIABILITY LIABILITY INSURANCE LIFE INSURANCE LIFE INSURANCE COMPANY LIFE INSURANCE PREMIUM LIFE INSURANCE PREMIUMS LIFE INSURANCE PRODUCTS LIFE INSURERS LIQUID ASSETS LIQUIDITY LIQUIDITY MANAGEMENT LIQUIDITY RATIO LOAN LOAN BALANCE LOCAL BANKS LOCAL INSURANCE MARKET MARKET ASSETS MARKET DATA MARKET PARTICIPANTS MARKET PENETRATION MARKET PLAYERS MARKET SHARES MARKET STRUCTURE MARKET SUPERVISION MINIMUM CAPITAL REQUIREMENTS MITIGATION MEASURES MONEY LAUNDERING NATURAL DISASTERS NON LIFE INSURANCE NON-LIFE INSURANCE NONPERFORMING LOANS NPL OPERATIONAL INDEPENDENCE PENETRATION RATE POLICYHOLDERS PORTFOLIO PORTFOLIOS PRICE COMPETITION PRICE WAR PRIVATE INSURANCE PRIVATE SECTOR DEVELOPMENT RATE OF RETURN RATE OF RETURN ON CAPITAL RATES REGULATORS REGULATORY CONSTRAINTS REGULATORY FRAMEWORK REGULATORY PRACTICES REGULATORY REQUIREMENT REGULATORY REQUIREMENTS REINSURANCE REINSURANCE ARRANGEMENTS REINSURANCE COMPANIES REINSURANCE PREMIUMS REINSURANCE REQUIREMENTS REINSURERS RESERVE RISK EXPOSURE RISK EXPOSURES RISK INSURANCE RISK MANAGEMENT RISK MANAGEMENT POLICIES RISK MEASUREMENT RISK MITIGATION RISK PROFILE RISK TRANSFER SAVINGS SETTLEMENT SHAREHOLDER SHAREHOLDERS SOLVENCY SOLVENCY REQUIREMENTS STOCK EXCHANGE SUPERVISORY AUTHORITIES SUPERVISORY AUTHORITY SUPERVISORY BOARD SUPERVISORY POWERS SUPERVISORY REGIME TECHNICAL ASSISTANCE TERRORISM TIMELY PAYMENT TRANSACTION TRANSPARENCY TURNOVER UNDERWRITING VALUATION This assessment of Albania's compliance with the International Association of Insurance Supervisors (IAIS) Insurance Core Principles (ICP) was carried out as part of the 2013 Financial Sector Assessment Program (FSAP). Although this is the second FSAP for Albania, this is the first external assessment of Albania's compliance with the ICPs. The Albanian Financial Supervisory Authority (AFSA) has all the responsibility for insurance regulation and supervision in Albania. This assessment is based upon information made available to the assessor in preparation for and during the November 2013 FSAP mission. The AFSA contributed its self-assessment and a detailed update thereof at the individual criterion level. Further sectoral information (including responses to a questionnaire sent out in advance) was provided before and during the mission. Comprehensive documentation, including all relevant laws, by-laws and regulations were: (i) available on the AFSA's web-site; or (ii) provided to the assessor by the AFSA's management. 2014-08-14T15:23:08Z 2014-08-14T15:23:08Z 2014-02 http://documents.worldbank.org/curated/en/2014/02/19768307/albania-insurance-core-principles-detailed-assessment-observance http://hdl.handle.net/10986/19297 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank, Washington, DC Economic & Sector Work :: Financial Sector Assessment Program (FSAP) Economic & Sector Work Europe and Central Asia ALBANIA |