Insurance and Insurance. Related Services a. Direct insurance (a) Life insurance, excl. health insurance services (b) Non-life insurance services b. Reinsurance and retrocession c. Insurance intermediation (such as brokerage and (1) None for: - Insurance services provided to enterprises with foreign- invested capital, foreigners working in Viet Nam; - Reinsurance services; - Insurance services in international transportation, including insurance of risks relating to: + international maritime transport and international commercial aviation, with such insurance to cover any (1) None. Sectors and sub-sectors Limitations on Market Access Limitations on National Treatment Additional Commitments
Insurance and Insurance. Related Services (1) None for: - Insurance services provided (1) None.
Insurance and Insurance related Services Insurance
Insurance and Insurance. Related Services a. Direct insurance (a)Life insurance, excl. health insurance services (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) (4) Unbound, except as indicated in the horizontal section. (4) Unbound, except as indicated in the horizontal section.
Insurance and Insurance. Related Services 1) Unbound except in the case of insurance of freight, where there is no requirement that goods in transit to and from India should be insured with Indian insurance companies only. Insurance is taken by the buyer or seller in accordance with the terms of the contract. This position will be maintained. Once under a contract the Indian importer or exporter agrees to assume the responsibility for insurance such as in the case of f.o.b. contracts for imports into India or c.i.f. contracts for exports from India, insurance has to be taken only with an Indian insurance company. 1) Unbound
Insurance and Insurance related Services 1) The supply of direct insurance is reserved for insurance undertakings authorized in Iceland. The supply of insurance mediation is reserved for insurance intermediaries authorized in Iceland. 2) None 1-4 National Treatment X.1 Local Presence X.13 [FS] Senior Management and Board of Directors Branch offices of foreign insurance undertakings must be managed by a resident agent. Managers and Board Members of Insurance Undertakings shall be resident in Iceland. Sector or Sub-sector Limitations on Market Access Other Limitations Additional Commitments 3) Any investor, whether resident or non- resident, who acquires or intends to acquire a qualifying holding in an insurance undertaking must give advance notice to the Financial Supervisory Authority. The Authority may refuse the acquisition or the exercise of ownership if it believes that the acquisition will affect the sound functioning of the enterprise. 4) Unbound except as indicated in the horizontal section. Residency requirement for insurance intermediaries and persons authorised to carry out average adjustments [Act on Insurance Activities, No. 56/2010] [Act on Insurance Mediation, No.32/2005]
Insurance and Insurance. Related Services Specific commitments in the market access column with respect to the supply of a service as prescribed in paragraph 2. a) and b) of Article I of this Agreement are unbound except for obligations under paragraph 3 and 4 of the Understanding respectively which are incurred in this sector additionally to those covered by the provisions of Part III of this Agreement and the Annex on Financial Services, subject to conditions and qualifications set out below. Modes of supply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence of natural persons Sector or subsector Limitations on market access Limitations on national treatment Additional commitments 1) Commercial presence is in principle required for insurance contracts on the following items and any liability arising therefrom: a) goods being transported within Japan b) ships and aircrafts of Japanese registration Japan intends to take measures necessary for making substantial liberalization of the cross-border insurance transactions for ships of Japanese registration which are used for international maritime transport and aircrafts of Japanese registration, as an integral part of the Insurance System Reform in 1995. 60% of amounts of reinsurance on the compulsory automobile third party liability insurance is subject to the compulsory coverage by the Government. Insurance services are not allowed to be supplied through an intermediary in Japan. 1) None Modes of supply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence of natural persons
Insurance and Insurance. Related Services a. Direct insurance (a) Life insurance, excl. health insurance services (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) (1) None for: - Insurance services provided to enterprises with foreign-invested capital, foreigners working in Viet Nam; - Reinsurance services; - Insurance services in international transportation, including insurance of risks relating to: + international maritime transport and international commercial aviation, with such insurance to cover any or all of the following: the goods being transported, the vehicle transporting the goods and any liability arising there-from; and goods in international transit; (1) None. - Insurance broking and reinsurance broking services; - Consultancy, actuarial, risk assessment and claim settlement services. (2) None. (3) None, except: As of 11 January 2012, non-life branches of foreign insurance enterprises shall be permitted, subject to prudential regulations. (2) None. (3) None.
Insurance and Insurance related services For Modes 1 and 2 AT, BE, CZ, DE, DK, ES, FI, FR, EL, HU, IE, IT, LU, NL, PL, PT, RO, SK, SE, SI, UK: Unbound for direct insurance services except for insurance of risks relating to: (i) Maritime shipping and commercial aviation and space launching and freight (including satellites), with such insurance to cover any or all of the following: the goods being transported, the vehicle transporting the goods and any liability arising therefrom; and (ii) goods in international transit. AT: Promotional activity and intermediation on behalf of a subsidiary not established in the EU or of a branch not established in Austria (except for reinsurance and retrocession) are prohibited. Compulsory air insurance, except for insurance of international commercial air transport, can be underwritten only by a subsidiary established in the EU or by a branch established in Austria. Higher premium tax is due for insurance contracts (except for contracts on reinsurance and retrocession) which are written by a subsidiary not established in the EU or by a branch not established in Austria. Exception from the higher tax can be granted. DK: Compulsory air transport insurance can be underwritten only by firms established in the EU. No persons or companies (including insurance companies) may for business purposes in Denmark assist in effecting direct insurance for persons resident in Denmark, for Danish ships or for property in Denmark, other than insurance companies licensed by Danish law or by Danish competent authorities. DE: Compulsory air insurance policies can be underwritten only by a subsidiary established in the EU or by a branch established in Germany. If a foreign insurance company has established a branch in Germany, it may conclude insurance contracts in Germany relating to international transport only through the branch established in Germany. FR: Insurance of risks relating to ground transport may be carried out only by insurance firms established in the EU. PL: Unbound for reinsurance and retrocession except for risks relating to goods in international trade. Sector or sub-sector Description of reservations PT: Air and maritime transport insurance, covering goods, aircraft, hull and liability can be underwritten only by firms established in the EU; only persons or companies established in the EU may act as intermediaries for such insurance business in Portugal. RO: Reinsurance on international market is allowed only if the reinsured risk cannot be place...
Insurance and Insurance. Related Services Specific commitments in the market access column with respect to the supply of a service as prescribed in paragraph 2.a) and b) of Article I of this Agreement are unbound except for obligations under paragraph 3 and 4 of the Understanding respectively which are incurred in this sector additionally to those covered by the provisions of Part III of this Agreement and the Annex on Financial Services, subject to conditions and qualifications set out below. GATS/S Page 89 Commercial presence is in principle required for ollowing items and any liability arising therefrom: None goods being transported within Japan ships and aircrafts of Japanese registration iberalization of the cross-border insurancepanese registration which are used for international rafts of Japanese registration, as an integral part of rm in 1995. ird party liability insurance is subject to the e Government. rmediary in Japan. GATS/S Page 91 Commercial presence is in principle required for ollowing items and any liability arising therefrom: None goods being transported within Japan ships and aircrafts of Japanese registration iberalization of the cross-border insurancepanese registration which are used for international rafts of Japanese registration, as an integral part of rm in 1995. ird party liability insurance is subject to the e Government. GATS/S Page 93 rmediary in Japan. Establishment of commercial presence as owed. rance brokerage system, as an integral part of the n 1995. ird party liability insurance is subject to the e Government. for insurance contracts made by an insurance licensed in Japan. Unbound except as indicated in HORIZONTAL Foreign life insurance companies are required to rves for yen-denominated insurance policies in Unbound except as indicated in HORIZONTAL GATS/S Page 95
