By Harold J. Skipper
ISBN-10: 0844771597
ISBN-13: 9780844771595
This examine offers a entire description of the worldwide coverage and info the present kingdom of overseas agreements that govern alternate in assurance.
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Additional info for Insurance in the General Agreement on Trade in Services (AEI Studies on Services Trade Negotiations)
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What concessions can an already liberal market exchange for concessions from an illiberal market? Where is the demanders’ leverage in circumstances in which crosssector trade-offs are not permitted? Perhaps more empirical evidence is needed on the benefits of insurance liberalization. We have theoretical and 48 INSURANCE IN THE GATS limited anecdotal evidence,5 but little by way of empirical support. Given the limitations on data, any such studies will be far from perfect, but they could be helpful.
Insurance Can Substitute for and Complement Government Security Programs. Insurance, especially life insurance, can substitute for government security programs. Private insurance also complements public security programs. It can thus relieve pressure on social welfare systems and allow individuals to tailor their security programs to their own preferences. 2 This substitution role is especially valuable given the growing financial challenges faced by national social insurance systems. Insurance Can Facilitate Trade and Commerce.
The United States and the European Union wanted Japan to bind within the GATS its 1994 and 1996 bilateral insurance agreements with the United States. Arguing that those agreements applied to domestic regulation and not to trade matters, Japan at first demurred. 4 Several countries have used this article to record their future commitments to further liberalization. In effect, this article helps bring domestic regulatory issues within the ambit of the GATS. The Annex on Financial Services The GATS annexes (Article XXIX) reflect some of the diversity of services.