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BIZCHINA> Reports
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China moves to tighten supervision of insurance license
By Song Hongmei (chinadaily.com.cn)
Updated: 2006-12-11 14:30
CIRC released draft rules on its website last week for public consultation that stipulate insurance institutions will be coded on a permanent basis. China will adopt the practice of grade management with regard to insurance licenses. Insurance institutions are required to display their business licenses in their sales office or face a fine of 5,000 to 30,000 yuan (US$638-US$3828). ...... The full text is available in the December Issue ofChina Insurance.
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