NU Online News Service, March 19, 2004, 1:47 p.m. EST – The American Council of Life Insurers, Washington, is asking the Bush administration to do something about Japan’s huge postal life insurance system.[@@]
Japanese officials have proposed some efforts to reform the system, but the ACLI and many Japanese life insurers say Japan’s regulatory system gives the postal system unfair advantages over other life insurers.
The ACLI will be holding a press conference Tuesday to argue that Japan’s postal life system also violates the World Trade Organization’s General Agreement on Trade in Services.
The ACLI says it is preparing to release a report that will outline its case and urge the U.S. government to negotiate with Japan to level the life insurance playing field.