failing to contribute to the insurance guarantee fund or the accumulated reserve fund as required

Article 98 For those insurance companies engaged in property insurance business, the premiums retained for the current year shall not exceed more than four times the combined total of its paid up capital and its accumulated reserve fund.

The Ministry of Finance monitors persons trading in precious metals and precious stones, insurance and reinsurance companies, mutual assurance associations and insurance brokers

Reinsurance shall be arranged for the portion in excess of this sum.

Article 103 The financial supervision and regulation department shall have the authority to restrict or prohibit insurance companies from ceding any outward reinsurance business to insurance companies established without the territory of the PRC or from accepting any inward reinsurance business from insurance companies established without the territory of the PRC.

Article 92 With the approval of the financial supervision and regulation department, an insurance company may engage in the following reinsurance business of the insurance business prescribed in the preceding article

Most of these new insurers utilize private reinsurance to leverage their capital resources.

Bermuda remains the world's leading domicile for captive insurance and reinsurance companies.

The insured or the beneficiary of the direct insurance shall not claim for the indemnity or payment of the insurance benefits from the reinsurer.

Article 96 In order to protect the interests of the insured, and to ensure its own steady and healthy operation, an insurer shall contribute to an insurance guarantee fund in accordance with the regulations of the financial supervision and regulation department.

(2) to withdraw 10 of the legal accumulation fund, and it is allowed to stop withdrawing the legal accumulation fund if its progressive total reaches 50 of the registered capital

For every child born to them after the first child, women farmers, insured in the farmers' main insurance branch (law 2458 1997), are exempted from their contribution liability towards the Agricultural Insurance Organization (O.G.A) as regards contributions towards old age pension and sickness insurance as well as contributions towards the Farmers' Union Fund for one year after the birth of each child apart from the first child.

An insurer refers to the insurance company which enters into an insurance contract with an applicant and is obligated to make indemnity or payments of the insurance benefits.

Article 102 Where an insurance company needs to place outward reinsurance business, it shall give priority to insurance companies established within the territory of the PRC.

The insurance clauses and premium rates for other types of insurance formulated by an insurance company shall be filed with the financial supervision and regulation department .

Federation of Afro Asian Insurers and Reinsurers

BIPAR International Association of Insurance and Reinsurance

When requested by the reinsurer, the ceding insurance company shall inform the reinsurer of the ceding insurance company's retained liability and all relevant information with respect to the direct insurance.

The ceding insurance company shall not decline or delay fulfilling its obligation of the direct insurance on the basis that the reinsurer fails to fulfill the reinsurance obligation.

C.3 XXVI FAIR Federation of Afro Asian Insurers and Reinsurers .

violating the regulations governing the application of the funds of the insurance company

Insurance companies, insurance brokers, and institutions involved with private pension plans or social security

International Association of Insurance and Reinsurance Intermediaries

(3) carrying out the provisions of the state on employees' remunerations and labor protection, paying social insurance premium and public accumulation funds for housing construction and so on, under law, and safeguarding the workers' legitimate rights and interests

If the sum insured is less than the insured value, the insurer shall obtain partial rights pertaining to the subject matter of the insurance which is lost or damaged on the pro rata basis of the sum insured to the insured value.

Article 108 Where an insurance company fails to set aside or carry forward the various technical reserve funds, or transact reinsurance in accordance with this Law, or seriously violates the provisions of this Law governing the application of funds, then the financial supervision and regulation department shall direct the insurance company to take the following remedial actions within a prescribed period of time

Article 94 An insurance company shall set aside an outstanding loss reserve for the amount of insurance indemnity or the amount of the insurance benefits which have already been claimed, and for those amounts due for which the insured events have occurred, but which has not yet been claimed.

The paying agent may be either be the IMSS or an insurance institution under a contract in which the latter undertakes to pay the pension periodically and receives in return the resources accumulated in the insured person's individual account.

Article 101 With the exception of life insurance business, an insurance company shall reinsure twenty (20) percent of each insurance contract it underwrites in accordance with the relevant State regulations.

An insurance company shall only operate its insurance business within the scope of business approved.

But I'm banking on this job being our insurance.

32. Bermuda is one of the world s leading offshore financial and business centres, a leading world captive insurance centre and a favoured venue for specialist companies operating as financial reinsurers covering international companies against the cost of legal awards.

A double insurance refers to insurance under which an applicant enters into insurance contracts with two or more insurers on the same subject matter of the insurance, the same insurable interests and the same insured event.

Article 33 Joint stock insurance companies, joint stock insurance holding (group) companies, exclusively foreign funded insurance companies and Sino foreign joint venture insurance companies shall be subject to the present Guidelines, while exclusively state owned insurance companies, branches of foreign insurance companies and insurance assets management companies shall be under the present Guidelines by analogy.

The sum insured refers to the maximum amount which the insurer undertakes to indemnify or pay under its insurance obligation.

The provisions governing the cumulation of survivors apos benefits and income correspond to those applicable in the statutory pension insurance.

An office of the State Treasury is responsible for monitoring insurance companies and pension funds.

Unless otherwise specified in the contract, in the event that the sum insured is less than the insured value, the insurer shall undertake the obligation for indemnity pro rata of the sum insured to the insured value.

Each insurance company, insurance assets management company and insurance regulatory bureau

Article 95 In addition to the reserve funds described in the preceding two articles, an insurance company shall set aside amounts into the accumulated reserve fund in accordance with the relevant State laws, administrative regulations and the stipulations of the State financial and accounting systems.

Article 31 The insurer or the reinsurer shall be obligated to maintain confidentiality of information obtained in the course of conducting insurance business regarding the business and financial position of the applicant, the insured or the ceding insurance company.

During the reporting period, the international business sector, including insurance, reinsurance and mutual fund management and administration, continued to dominate the economy.

The opening of markets to foreign insurance companies may also yield some positive results.

An insurance company engaged in life insurance shall set aside a reserve for future claims equal to the total net value determined actuarially on the total life insurance policies in force.

The Panel noted that in cases where the insurers verified the policies, claimants frequently claimed for amounts significantly in excess of the insured figures.