Insurance and Insurance-Related Services. Approval of non‑resident life insurers is restricted to subsidiaries. Most State and Territory Governments maintain restrictions, by way of monopolies or licensing provisions and associated controls on premiums and other terms of policies, in the following areas of insurance: Compulsory Third Party Motor Vehicle Accident: VIC, WA, TAS, NT (monopolies); NSW, QLD, SA, ACT (licensing, premiums/policy terms). Workers
Insurance and Insurance-Related Services. 1. In Chile, the insurance business is divided into two groups: the first group comprises companies that insure goods or property (patrimonio) against the risk of loss or damage, while the second comprises those that cover personal risks or guarantee, within or at the end of a certain term, a capital sum, a paid-up policy or an income for the insured or his/her beneficiaries. The same insurance company may not be constituted in such a way as to cover both categories of risk. 2. Credit insurance companies, even though classified in the first group, must be established as legal entities with the sole purpose of covering this type of risk, i.e. loss of or damage to the goods or property (patrimonio) of the insured as a result of the non-payment of a money debt or loan, being also permitted to cover guarantee and fidelity risks.
Insurance and Insurance-Related Services. 1. For the United States, Article 10.5 applies to the cross-border supply of or trade in financial services as defined in subparagraph (a) of the definition of cross-border supply of financial services in Article 10.20 with respect to
Insurance and Insurance-Related Services. 1. For Singapore, Article 10.5 applies to the cross-border supply of or trade in financial services as defined in sub paragraph (a) of the definition of cross-border supply of a financial service or cross- border trade in financial services in Article 10.20 with respect to:
Insurance and Insurance-Related Services. For life insurance, reinsurance and retrocession and services auxiliary to insurance, no market access or national treatment limitations in the commercial presence mode of supply. For non-life insurance, market access and national treatment in the cross border mode of service supply is subject to the following limitation: Compulsory worker's compensation insurance via levies on vehicle owners, employers, employees and the self-employed is provided solely by the Accident Compensation Corporation. For non-life insurance, market access and national treatment in the commercial presence mode of supply is subject to the following limitations:
Insurance and Insurance-Related Services. For Panama, Article 12.06(1) applies to the supply of a financial service from the territory of one Party into the territory of the other Party with respect to:
Insurance and Insurance-Related Services. 1. In Chile, the insurance business is divided into two groups: the first group comprises companies that insure goods or property (patrimonio) against the risk of loss or damage, while the second comprises those that cover personal risks or guarantee, within or at the end of a certain term, a capital sum, a paid-up policy or an income for the insured or his/her beneficiaries. The same insurance company may not be constituted in such a way as to cover both categories of risk. 2. Credit insurance companies, even though classified in the first group, must be established as legal entities with the sole purpose of covering this type of risk, i.e. loss of or damage to the goods or property (patrimonio) of the insured as a result of the non-payment of a money debt or loan, being also permitted to cover guarantee and fidelity risks. Sale of direct life insurance (does not include insurance related to the social security system) (CPC 81211), and Sale of direct general insurance (CPC 8129, except for CPC 81299) (excluding the Instituciones de Salud Previsional, ISAPRES (social security health institutions) i.e. legal persons set up for the purpose of providing health benefits to persons who opt to become members and financed through the statutory contribution of a percentage of taxable income fixed by law or a higher amount, as the case may be. It also excludes the Fondo Nacional de Salud, FONASA (National Health Fund), a public agency financed by the government and the statutory contribution of a percentage of taxable income fixed by law, which is jointly responsible for paying benefits under the 1) Unbound 2) Unbound 3)Insurance services can be provided only by insurance companies established in Chile as corporations or as branches of foreign corporations with the sole purpose of developing this line of business, either direct life insurance or direct general insurance. In the case of general credit insurance (81296), they must be established as corporations or branches with the sole purpose of covering this type of risk. Insurance corporations can be legally constituted only in accordance with the provisions of the law on corporations. For the purposes of foreign insurance branch operations in Chile, the capital and reserves (patrimonio) effectively invested in Chile is considered, and not that of the main office. Such capital and reserves (patrimonio) must be effectively transferred and converted into domestic currency in conformity with any of the systems autho...
Insurance and Insurance-Related Services a. Direct Insurance: (a) Life Insurance, excluding health insurance services; and (b) Non-Life Insurance Services b. Reinsurance and Retrocession c. Insurance Intermediation (such as brokerage and agency) d. Services Auxiliary to Insurance (such as consultancy, actuarial, risk assessment and claim settlement) Unbound, except as indicated in the Horizontal Section.
