U.S. Insurers Look To Hold China To Commitments.(Brief Article)

National Underwriter Property & Casualty-Risk & Benefits Management, April, 2001 by BROSTOFF, STEVEN

U.S. insurance companies are insisting that China not be allowed to back away from commitments it made to open its insurance market as part of its bid to join the World Trade Organization. "Unless China is held to the promises made in the U.S.-China bilateral negotiations in 1999, many U.S.

property and casualty insurers will either be left out of the market entirely or have their access to the market significantly curtailed," said John Savercool, vice president of federal affairs for the Washington-based American Insurance Association. Brad Smith, director of international relations for the Washington-based American Council of Life Insurers, said the concerns arise from discussions in a WTO Working Party. The Working Party, Mr. Smith said, involves...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.