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Thursday, July 20, 2000, updated at 21:34(GMT+8)
Business  

Shanghai Launches Liability Insurance for Accountants

The Shanghai Branch of the China Ping'an Insurance Company today signed a contract to provide liability insurance to nine accountancy firms in this metropolis in east China.

This is the first time for China to conduct such a kind of insurance, an insurance company source said.

Re-appearing in China at the beginning of the 1980s, accountancy firms have long faced huge risks of counterclaims.

"Liability insurance will benefit both accountants and their clients," said Deng Xionghan, a local insurance supervision official.

Shanghai has 83 accountancy firms.




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The Shanghai Branch of the China Ping'an Insurance Company today signed a contract to provide liability insurance to nine accountancy firms in this metropolis in east China.

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