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6 May 2010, 2:01 am
China's insurance regulator, the Chinese Insurance Regulatory Commission, can order insurers with a solvency ratio between 100% and 150% to come up with plans to raise capital. [read post]
21 Jun 2013, 12:57 am
Two civil actions were also filed against Brasner: the life insurer sued to recover over $1 million in commissions it had paid to Brasner; and an investor that had purchased policies that were voided sued to recover the amounts it lost.. [read post]
17 Jul 2009, 9:07 am
At a Texas Public Safety Commission meeting today, the vendor in charge of collections for the Orwellian-named "Driver Responsibility" surcharge faced a brutal reaction from commission members, who questioned the company's "ethics" and openly called for their contract to be terminated as soon as feasible. [read post]
1 Dec 2011, 5:00 am
Zenith Insurance Company Zurich North America Contributors American Insurance Association Safeway, Inc. [read post]
4 Jan 2007, 8:46 am
The Article also raises the possibility that contingent commissions should be banned in insurance markets where purchasers of insurance are sophisticated commercial entities. [read post]
16 Mar 2023, 8:48 am
On 16 March 2023, there was published in the Official Journal of the European Union (OJ) a Corrigendum to Commission Delegated Regulation (EU) 2021/2268 of 6 September 2021 amending the regulatory technical standards laid down in Commission Delegated Regulation (EU) 2017/653 as regards the underpinning methodology and presentation of performance scenarios, the presentation of costs and the methodology for the calculation of summary cost indicators, the presentation and content of… [read post]
20 Sep 2017, 6:02 am
That's why agents have a discussion on provider networks, deductibles, copays, drug costs and other insurance provisions long before talking about premiums.Since the rollout of goodluck.gov agents have seen our commissions cut - and in some cases - eliminated. [read post]
8 Jun 2022, 11:03 am
As an insurance broker, you procure coverage for a client from an insurance company. [read post]
31 Jul 2008, 9:50 am
On 7 July 2008, the Comité Européen des Assurances (CEA) published a response to the European Commission's consultation paper on Insurance Guarantee Schemes (IGS) (see our previous blog here).The CEA states in its response that it believes that the most important protection for insurance consumers is an effective, efficient system of prudential regulation for insurers. [read post]
25 Jul 2007, 11:38 am
The FTC put out a news release yesterday on credit scores and auto insurance: The Federal Trade Commission today released a report presenting the results of a study concerning credit-based insurance scores and automobile insurance. [read post]
8 Jul 2008, 9:15 am
In that matter, the Court opined that contingent commission agreements between brokers and insurers are not illegal, and, in the absence of a special relationship between the parties, the defendants have no duty to disclose the existence of the contingent commission agreement. [read post]
16 Jun 2009, 2:18 am
HSBC Insurance (Asia) Limited ("HSBC Insurance"), a member of the HSBC Group, has received regulatory approval from the China Insurance Regulatory Commission ("CIRC") to form a joint venture with National Trust Limited ("National Trust") in mainland China with the aim of boosting its insurance income and expanding its wealth management businesses.HSBC Insurance and Beijing-based National Trust will each hold 50… [read post]
8 Apr 2011, 3:37 am
On 22 March 2011, the China Insurance Regulatory Commission (CIRC) published a set of draft Tentative Administrative Measures on the Transfer of Insurance Business (Draft Measures) for public consultation by 11 April 2011. [read post]
23 Mar 2011, 12:00 am
On 20 January 2011, the China Insurance Regulatory Commission (CIRC) issued a statement banning the country’s insurers, their asset management firms and other affiliates from providing guarantees for other companies’ debt. [read post]
1 Feb 2016, 10:39 am
We've written about the chilling effect that insurers hope to create by lowering commissions on Exchange-based business (or doing away with them altogether). [read post]
12 Aug 2019, 5:07 pm
On August 5, the Council of the EU published a cover note, which attaches a call for advice from the European Commission to the European Insurance and Occupational Pensions Authority (EIOPA) (dated July 31) on possible delegated acts concerning the Regulation on a Pan-European Personal Pension Product (PEPP Regulation) ((EU) 2019/1238). [read post]
24 Jun 2010, 2:39 am
On 26 May 2010, the China Insurance Regulatory Commission (the CIRC) announced that it is considering liberalising current restrictions on investments by People's Republic of China insurance companies in stocks and bonds.Under the new investment rules, the CIRC will permit insurers to invest up to 20% (up from the current limit of 15%) of total assets in unsecured debt investments. [read post]
23 May 2011, 2:00 am
In December 2009, we reported on the Law Commission's draft Bill on Consumer Insurance Law: Pre-Contract Disclosure and Misrepresentation (click here for our previous blog). [read post]
15 Oct 2008, 10:48 pm
Insurance companies, however, made tremendous profits in selling them and paid high commission to brokers. [read post]
24 Jan 2023, 11:01 am
These policies protect the assets of directors and officers against claims alleging the commission of wrongful acts in managing the business or organization. [read post]
