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 of China Insurance.
(For more biz stories, please visit Industry Updates)