Global Insurance Regulatory and Premium Tax Update July 2014

The Global Insurance Regulatory and Premium Tax Update is a summary of the latest insurance regulation and premium-related news that could affect insurance contracts procured by a multinational group. The update covers:

• China - Product liability.
• Republic of the Congo - Premium tax increase.
• Denmark - Environmental contribution.
• Germany - Premium tax.
• Ghana - Cash before cover.
• Hong Kong - Directors and officers liability.
• Japan - Consumption tax.
• Kenya - Formal approval requirement.
• Nigeria - Approval for offshore reinsurance.
• Saudi Arabia - Compulsory insurance.
• Slovakia - Insurers' levy.
• Zambia - Policies and premium in US dollars.