WASHINGTON–A pending agreement aimed at bringing Russia into the World Trade Organization has won U.S. property-casualty insurers' support after changes to its provisions, a carriers' trade group executive said today.
David Snyder, American Insurance Association (AIA) vice president and assistant general counsel, voiced industry backing for the agreement in principle negotiated by the U.S. Trade Representative.
He explained the new pact follows eleventh hour negotiations reducing insurance company concerns about a cap on foreign insurance involvement in the Russian economy that the U.S. insurance industry couldn't support.
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