I.

PROPOSED MODEL SCHEDULE FOR INSURANCE SERVICES

The following would be an integral part of the specific commitments in the insurance sector

entered into in accordance with the wider obligations in Parts I and II of the GATS relating to

Sub Federal entities.  The obligations to be assumed by the countries must be read with

commitments expressed in the columns of market access and national treatment in its schedule,

in order to reflect the full extent of the countries' undertakings. In some instances, the

obligations assumed in the market access and national treatment columns in countries' schedule

may capture some of the undertakings listed in this text.  It nonetheless is suggested that those

obligations should be described or supplemented by the wordings used in this proposed model

schedule with the objective of providing greater clarity and specificity to certain aspects of the

countries' insurance obligations.

It is recognized that some obligations cannot be assumed at the conclusion of the current

negotiation. However, some appropriate time frame for the staging of obligations is to be

established, in general leading to full obligations in a maximum two years time from

entry into force of the results of this negotiation.

The proposed text does not suggest a different method of scheduling commitments.   It

recognizes the right of countries to schedule commitments according to the Financial

Services Understanding, which is annexed to the GATS; or according to standard

scheduling techniques as provided in Article XX of GATS.

Unless otherwise indicated, the terms  insurance services  and  insurance supplier 

incorporate all forms of insurance and reinsurance underwriting; insurance intermediation

(brokerage and agency services, including reinsurance brokerage); surety; consultancy,

actuarial, risk management, risk assessment, and claims settlement services.

Market Access and National Treatment

A. Acquired Rights

With respect to all insurance services, future measures and schedules of

commitments adopted by countries will, at a minimum, not reduce or impair the

current level of market access and national treatment available to foreign

insurance services and services suppliers.

B. Market Access   Cross Border delivery in respect of Reinsurance,

Marine/Aviation/Transport Insurance

1. Reinsurance, marine/aviation/transport insurance and insurance services

related to these types of insurance are to be bound under the cross border

mode of supply without restrictions to market access.  Countries will assume

identical undertakings with respect to access to marine/aviation/transport

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