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Officials of the American Insurance Association (AIA) and the Property Casualty Insurers Association of America (PCI) are describing as “significant” the outcome of China-U.S. trade-related insurance talks.

David F. Snyder, AIA vice president and associate general counsel, says that through the Economic Track of the U.S.-China Strategic and Economic Dialogue, China has agreed to open up its Mandatory Third Party Liability (MTPL) auto-insurance market to foreign insurance companies.

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