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Results: 1-10 of 15

Chinese drywall Consumer Product Safety Commission finds link between corrosion and Chinese manufactured drywall
  • Locke Lord LLP
  • China, USA
  • November 24 2009

On Monday November 23, 2009, the Consumer Product Safety Commission ("CPSC") issued a press statement and study results demonstrating a "strong association" between homes with the Chinese manufactured drywall and levels of hydrogen sulfide and corrosion of metals in those homes


Insurance institutions may invest in corporate debentures
  • Locke Lord LLP
  • China
  • January 12 2010

The China Insurance Regulatory Commission (CIRC), the insurance industry regulator in the People's Republic of China, issued a circular on 31 December 2009, permitting insurance institutions to invest in corporate debentures which are issued in the domestic inter-bank market provided that the corporate debentures satisfy the relevant applicable requirements and have a credit rating of AAA or a long-term credit rating equivalent to AAA assigned by domestic credit rating institutions


Draft Tentative Measures for the Administration of the Use of Insurance Funds
  • Locke Lord LLP
  • China
  • January 13 2010

The China Insurance Regulatory Commission (CIRC) released on 25 December 2009 Draft Tentative Measures for the Administration of the Use of Insurance Funds (the "Draft Tentative Measures") for public consultation


New accounting standards for insurance companies
  • Locke Lord LLP
  • China
  • January 11 2010

The Chinese Ministry of Finance (MoF) and the China Insurance Regulatory Commission (CIRC), the insurance industry regulator in the People's Republic of China, have jointly issued detailed rules requiring insurance companies to adopt new accounting standards in compiling their 2009 financial reports


Chinese drywall - Chinese President says that he will look into drywall responsibility
  • Locke Lord LLP
  • China, USA
  • April 21 2010

United States Senator Bill Nelson (D-Fla.) reports that, this week, Chinese president Hu Jintao told him this week that he would investigate problems with Chinese manufactured drywall


China regulator expands limits on bond investment by insurers
  • Locke Lord LLP
  • China
  • June 24 2010

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


China Insurance Regulatory Commission in call for insurers to develop e-insurance
  • Locke Lord LLP
  • China
  • June 22 2010

Domestic insurers in China are being encouraged by the China Insurance Regulatory Commission (the CIRC) to grow new business through electronic commerce in order to optimize the structure of sales channels and foster the growth of new business


New York Insurance Department announces cooperation agreement with China
  • Locke Lord LLP
  • China, USA
  • July 30 2009

On Tuesday, July 28, 2009, Acting New York State Insurance Department ("NYSID") Superintendent Kermitt Brooks announced that the NYSID entered into a Memorandum of Understanding ("MoU") with the International Department of the China Insurance Regulatory Commission ("CIRC"), China’s insurance regulator


Chinese consider revising plan for a super regulator
  • Locke Lord LLP
  • China
  • May 14 2010

China is considering reviving its plan to set up a super regulator in order to make the government's oversight of the financial sector more efficient and expedient and improve the lack of integration and co-ordination between existing regulators


Lloyd's China granted licence to write direct insurance
  • Locke Lord LLP
  • China
  • June 18 2010

The China Insurance Regulatory Commission (the CIRC) has granted Lloyd's China a licence to write direct insurance