Newsletter
FULL OVERHAUL OF INSUR-ANCE RESERVE SYSTEM EX-PECTED
After strong representations from life and non-life insurance companies, the Department of Insurance, Ministry of Finance has commis-sioned the Insurance Institute of the Republic of China to organize a special team to review the existing system for the depositing of reserves by insurance companies. It is understood that in addition to examining the special liability re-serves, the task force will also review other types of reserve such as claim reserves and unearned premium reserves. A comprehensive overhaul can be expected. Lee and Li will report on fur-ther developments.