Act or Law of Life Insurance Company Bangladesh

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Act or Law of Life Insurance Company Bangladesh Powered By Docstoc
					                                                                                                 Vendor Insurance Requirements
                                                                                                       (US$ unless otherwise specified)


Note: Click on the drop-down arrow in the "Country" Column Header to jump to a specific country.                                                                                                                                  9/29/05


                                                                                                            Personal Accident                                                         Auto Liability (BI = Third Party Bodily Injury,
          Country                    Workers Compensation (WC)              Employers Liability (EL)              (PA)        General Third Party Liability Professional Liability         PD + Third Party Property Damage)
Afghanistan                  As of May 05 the only insurer in              see WC                                             Currently not marketed, but  Currently not marketed but Compulsory coverage only applies in Kabul and
                             Afghanistan is the essentially moribund                                                          minimum US$ 50,000           minimum US$ 10,000         is not enforced. The limit is AFN 40,000 (US$
                             Afghan National Insurance Company                                                                                                                        934) for PD and BI.
                             (ANIC) which is state owned. USAID has a
                             program in place in an effort to privatize
                             the company, but in practice all coverage
                             must currently be placed offshore. ANIC
                             offers a WC policy insuring an employers
                             liability at law, coverage is generally based
                             on 12 months salary.


Albania                      State scheme under Social Security. No        to be added to GL policy         not required         250,000                     25,000                      Compulsory under Decree 295 of 1992. Limits
                             certification required                        with minimum limits of                                                                                        are BI 200,000 per person, $500,000 per
                                                                           $40,000 per person,                                                                                           accident; PD 50,000 per vehicle, $100,000 per
                                                                           $100,000 per accident                                                                                         accident
Algeria                      State Scheme - CNASAT no certification        not required                     Minimum Death        500,000                     50,000                      US$25,000 BI/PD
                             required                                                                       Benefit 3 x Annual
                                                                                                            Salary
Angola                       Effectively compulsory under Dispositivo      Minimum limit of US$             Minimum Death        1,000,000                   50000 (generally placed     Currently only compulsory for Public Service
                             Legislativo #2827. Further legislation is     500,000 or a PA policy           Benefit 3 x Annual                               offshore)                   Vehicles (taxi, bus etc.) with a minimum BI limit
                             expected to provide more clarity                                               Salary if EL not                                                             of US$100,000. Further legislation is expected
                                                                                                            purchased                                                                    to extend this to all vehicles. We require a
                                                                                                                                                                                         minimum of US$50,000 PD/BI combined


Antigua & Barbuda            Responsibilities to employees established to be added to the WC                not required         Minimum limit XCD 500,000   US$25,000. Coverage is      Compulsory under the Motor Vehicles
                             under the Antigua & Barbuda Workers         policy, minimum limits XCD                                                          generally placed offshore   Insurance (Third Party Risks) Ordinance of
                             Compensation Ordinance of 1957 (Cap         7,500,000                                                                           at Lloyds                   1950 as amended. Limits are XCD 10,000 per
                             475), Amendment 1 of 1994 to the                                                                                                                            person XCD 100,000 per event BI, PD is not
                             Workers Compensation Ordinance, the                                                                                                                         compulsory. We require a minimum of XCD
                             Antigua & Barbuda Factories Act of 12975                                                                                                                    250,000 BI/PD.
                             and Division D of the Labour Code of 1975
                             (in part). Medical Services are provided by
                             the Ministry of Health but treatment abroad
                             is limited to XCD 2000. While only certain
                             classes of employment are required by law
                             to carry WC insurance, it is common for all
                             companies to have the coverage.
                             Certification is required




Argentina                    Statutory Limits for Riesgos de Trabajo       During 9/04 the Supreme          Minimum Death        500,000                     25,000                      \
                             came into force under Law 24557 of 1995       Court ruled that Art 39 of       Benefit 3 x Annual
                             and is underwritten by specialist insurers.   Law 24557 is                     Salary
                             Certification is required.                    unconstitutional. This ruling
                                                                           reinstates an employees
                                                                           right to sue employers .
                                                                           However insurers are
                                                                           currently unwilling to insure
                                                                           the exposure; until the
                                                                           situation is clarified we will
                                                                           require a PA policy




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                                                                                               Personal Accident                                                             Auto Liability (BI = Third Party Bodily Injury,
            Country         Workers Compensation (WC)              Employers Liability (EL)            (PA)       General Third Party Liability Professional Liability            PD + Third Party Property Damage)
Armenia               There are some very limited benefits        not available                Minimum Death      100,000                      Minimum limit US$50000,       Compulsory insurance has been under
                      available under social security. A Personal                              Benefit 3 x Annual                              however the coverage is       consideration for some time for Bodily Injury
                      Accident policy is required in lieu.                                     Salary                                          not readily available and     only and with very low limits. We require a
                                                                                                                                               insurers will likely need     minimum of US$25,000 PD/BI combined.
                                                                                                                                               external reinsurance
                                                                                                                                               support.


Australia             State Monopoly in NSW, VIC, QLD & SA.       not required                 not required         5,000,000                   1,000,000                    BI is unlimited by Statute. PD A$20,000,000
                      Private insurers elsewhere. Statutory                                                                                                                  (commonly offerred)
                      Benefits. Certification required where
                      insurance is private
Austria               State scheme under Social Security. No      not required                 Minimum Death        Euro 1,500,000              Euro 500,000 (certain       Compulsory under the Motor Liability Insurance
                      certification required                                                   Benefit 3 x Annual                               professions are required to Act of 1994 with limits of ATS 15,000,000 for
                                                                                               Salary                                           have higher limits by Law). PD/BI. Limits to increase to Euro 3,000,000 in
                                                                                                                                                                            2005 and Euro 5,000,000 in 2007. We require
                                                                                                                                                                            the Euro 3m. Limit


Azerbaijan            Not compulsory, no Social Security          May become obligatory at     Minimum Death        100,000                     50,000                       Compulsory since 1995 but limits are AZM
                      system, responsibility of employers         some point. Minimum limits   Benefit 3 x Annual                                                            5,000,000 BI and AZM 3,.000,000 PD (US$
                      established under the Civil Code and        US$ 15,000 per accident,     Salary                                                                        1,000, US$ 600). We require US$ 25,000
                      Labour code. PA is required                 US$ 1,500,000 aggregate.                                                                                   PD/BI combined.


Bahamas               The Workers Compensation Act of 1943        minimum limit US$            Minimum Death        1,000,000                   US$ 1,000,000 This is        The Road Traffic acts, 1955 - 1988 were
                      was repealed in 1974 by the Bahamas         1,000,000                    Benefit 3 x Annual                               generally placed offshore.   amended by the Road Traffic (Amendment) Act
                      National Insurance Scheme, The National                                  Salary                                                                        of 2004 which removed unlimited liability for BI
                      Insurance Act and Regulations are                                                                                                                      and relaced this with limits of US$ 2,500,000
                      incorporated under Chapter 320 of the                                                                                                                  per person and US$ 30,000,000 per accident.
                      statute Laws of The Bahamas (1987), No                                                                                                                 PD is optional, we require a minimum of US$
                      certification required.                                                                                                                                150,000


Bahrein               State scheme run by The General           minimum limit US$              not required         BHD 1,000,000               BHD 500,000                  The Road Traffic act of 1954 introduced
                      Organisation for Social Insurance (GOSI) 1,000,000                                                                                                     unlimited liability for BI and was extended by
                      is regulated by Decree Law 24 of 1976. No                                                                                                              Decree 3 of 1987 to include unlimited PD.
                      certification required.                                                                                                                                Decree 7 of 1996 reduced the PD limit to BHD
                                                                                                                                                                             500,000
Bangladesh            Workmens Compensation Act of 1982 only not required (although          Minimum Death          100,000                     10,000                       Road Traffic Act of 1960, amended 1964 and
                      covers workers who earn up to BDT 3,000 liability does exist under the Benefit 3 x Annual                                                              1984 requires unlimited BI/PD cover. (NB
                      per month. Certification required if Vendor Factories Act)             Salary                                                                          despite this legal requirement many vehicles
                      has employees in this category. PA is                                                                                                                  are uninsured so certification is necessary
                      mandatory.
Barbados              State scheme no certification required      minimim BD$5,000,000         not required         500,000                     100,000                      Statutory BI is unlimited (but projected
                                                                                                                                                                             legislation may reduce this to BD$30m.)
                                                                                                                                                                             Statutory PD is BD$50,000
Belarus               A mandatory scheme for work injuries and not required                    Minimum Death        100,000                     25,000                       Euro 50,000 BI/PD combined. (Statutory Limits
                      occupational diseases was introduced                                     Benefit 3 x Annual                                                            are low, currently Euro 5,000 each for PD and
                      under a Presidential Decree in 2003. It is                               Salary Coverage is                                                            BI but if there are multiple deaths/injuries the
                      financed by employers contributions and                                  compulsory for                                                                limit is 3 x this amount).
                      the monopoly insurer is Belgosstrakh.                                    certain State
                      Certification required                                                   employees.


Belgium               Occupational diseases are covered by a      not required                 not required         2,500,000                   500,000                      Statutory BI/PD is unlimited
                      state scheme. Workers Compensation is
                      obligatory under Law of 4/10/71, Law of
                      4/29/96 and Royal decree of 12/28/71 (for
                      seafarers, certification required).




                                                                                                     Page 2 of 20                                                                   d68b9ade-08ed-4ea5-bf51-4d74e8a20c57.xls
                                                                                                 Personal Accident                                                                    Auto Liability (BI = Third Party Bodily Injury,
           Country         Workers Compensation (WC)               Employers Liability (EL)              (PA)           General Third Party Liability     Professional Liability           PD + Third Party Property Damage)
Belize               Covered by the state under the Social        Minimum limits BZD             Required if staff will BZD 500,000                     Not readily available and     Motor Vehicle Insurance (Third Party Risks) Act
                     Security Act (Chapter 44 of the laws of      500,000                        work outside Belize                                    insurers will need external   is Chapter 21 of the laws of Belize. Statutory
                     Belize). There are some minor exceptions,                                   with minimum Death                                     reinsurance. Minimum limit    requirements are BZD 50,000 per person and
                     including work outside Belize. Certification                                Benefit 3 x Annual                                     BZD 200,000                   BZD 100,000 per accident for BI and BZD
                     not required.                                                               Salary                                                                               20,000 PD. We require a minimum of BZD
                                                                                                                                                                                      200,000 per person and BZD 800,000 per
                                                                                                                                                                                      accident BI and BZD 200,000 PD.


Benin                State scheme under the Caisse Nationale        GL policy to be extended to Minimum Death           100,000                         GL policy to be extended      Compulsory under the CIMA code. Liability for
                     de Securite Sociale (previously Office         include "Responsabilite       Benefit 3 x Annual                                    to include "Responsabilite    BI is theoretically unlimited but Arts 258 - 266 of
                     Beninoise de Securite Sociale). No             Civile du Chef d'Entreprise". Salary                                                Civile du Chef                the Code include a table of compensation rates.
                     certification required                                                                                                             d'Entreprise".


Bermuda              The Workers Compensation Amendment             to be added to GL policy     not required           1,000,000                       1,000,000                     The Road Traffic Act, 1943 made BI coverage
                     Act of 2004 expanded the scope to                                                                                                                                compulsory with limits of US$ 125,000 per
                     benefits to include all employees.                                                                                                                               person, US$ 500,000 per accident. We require
                     Coverage is only compulsory however for                                                                                                                          limits of US$ 5,000,000 BI and US$ 500,000
                     6, essentially manual, occuoations.                                                                                                                              PD.
                     Certification required.


Bhutan               There is only one insurer, the Royal                                                               100,000                         25,000
                     Insurance Corporation of Bhutan (39%
                     government owned). Social security type
                     benefits are likely provided by the National
                     Pension and Provident Fund


Bolivia              Statutory under Article 10 of pensions law     not required                 not required           100,000                         25,000                        Statutory since 1/1/2001 as Seguro Obligatorio
                     of 1996. Handled by the Life Insurance                                                                                                                           de Accidentes de Transito (SOAT). Limits are
                     companies. Certification required                                                                                                                                low, we require excess limits to a minimum ofof
                                                                                                                                                                                      US$20,000 BI/PD


Bosnia               State scheme via Social Security. No           not required                 Minimum Death          750,000                         Compulsory for certain        Compulsory limits are KM 275,000 BI and KM
                     certification required.                                                     Benefit 3 x Annual                                     professions. We require       165,000 PD. These were due to be increased
                                                                                                 Salary                                                 US$ 100,000 unless            to Euro 250,000 BI and Euro 170,000 PD by
                                                                                                                                                        statutory limits higher.      2005 but this has not been enacted (4/05). We
                                                                                                                                                                                      require the Euro limits. BI is supposed to
                                                                                                                                                                                      increase to Euro 500,000 in 2006.


Botswana             Compulsory under Workers Compensation to be added to WC                     Minimum Death          BWP 1,000,000                   BWP 1,000,000                 BI is handled by the parastatal Botswana Motor
                     act #23 of 1998 (plus several regulations). insurance (known as             Benefit 4 x Annual                                                                   Vehicle Accident Fund (BMVAF) which was
                     Benefits are low. Certification is required Common Law cover), with a       Salary (in line with                                                                 established under the Motor Vehicle Accident
                                                                 minimum limit of BWP            WC requirements).                                                                    Fund Act of 1998. It is funded by a levy on fuel.
                                                                 500,000                                                                                                              We require PD coverage - standard limits are
                                                                                                                                                                                      BWP 2,000,000 which includes excess BI.


Brazil               Government Monopoly under INPS, no             to be added to GL policy     not required           750,000                         50,000                        Statutory DPVAT + $25,000 PD, $100,000 BI
                     certification required
Brunei               Required by the Workers Compensation           BRD 5,000,000                not required           BRD 500,000                     US$ 100,000 (usually          Compulsory under Motor Vehicles (Third Party
                     Act of 1957. Certification required.                                                                                               placed offshore).             Risks) Act of 1950 as revised in 1984 with
                                                                                                                                                                                      unlimited BI. PD is voluntary and we require the
                                                                                                                                                                                      commonly issued amount of BRD 3,000,000




                                                                                                        Page 3 of 20                                                                          d68b9ade-08ed-4ea5-bf51-4d74e8a20c57.xls
                                                                                                           Personal Accident                                                          Auto Liability (BI = Third Party Bodily Injury,
           Country                Workers Compensation (WC)                  Employers Liability (EL)             (PA)       General Third Party Liability Professional Liability          PD + Third Party Property Damage)
Bulgaria                   Covered by the National Social Security         to be added to GL policy       not required       BGN 500,000                  BGN 500,000 unless          Statutory limits are amended annually with a
                           Institute. No certification required.                                                                                          statutory limits higher.    view to reaching EU standards by 2007.
                                                                                                                                                                                      Effective 1/1/05 limits were BGN 140,000 for
                                                                                                                                                                                      Material Losses and BGN 400,000 per person,
                                                                                                                                                                                      BGN 480,000 per accident for Non Material
                                                                                                                                                                                      Losses (Material losses include Medical
                                                                                                                                                                                      Expenses which would normally be paid under
                                                                                                                                                                                      BI). We require twice local statutory limits
                                                                                                                                                                                      capped at EU 4th Directive level (Euro
                                                                                                                                                                                      1,000,000 BI, Euro 500,000 PD), until 5th
                                                                                                                                                                                      Directive limits are implemented.


Burkina Faso               State provided via Caisse Nationale de       not required                      Minimum Death        Minimum limit CFA           Minimum limit CFA          Compulsory under the CIMA code. Liability for
                           Securite Sociale. No certification required.                                   Benefit 3 x Annual   250,000,000                 75,000,000                 BI is theoretically unlimited but Arts 258 - 266 of
                                                                                                          Salary                                                                      the Code include a table of compensation rates.

Burundi                    No information currently available                                                                  100,000                     50,000
Cabo Verde                 The Caixa Economica de Cabo Verde (an                                                               100,000                     50,000
                           insurance company), has been sold to
                           Portuguese interests. There is one other
                           insurance company, Garantia - companhia
                           de seguros de cabo verde sarl. Social
                           Security benefits provided by the Instituto
                           Nacional de Previdencia Social.


Cambodia                   The Labor Law establishes employers         not available                      Minimum Death        250,000                     Minimum limit US$50000.    Insurance Law of 200 as amended by
                           responsibilities and, under Art 256                                            Benefit 3 x Annual                               This will likely need to   Executive Orders (Prakas) in 2002 requires
                           provides for obligatory insurance via a                                        Salary                                           placed offshore, eg in     cars to have a minimum of US $5,000 per
                           Social Security sytem which has not yet                                                                                         Thailand                   person, US$ 25,000 per accident for BI and
                           been set up. Limited insurance is available                                                                                                                US$ 10,000 PD. We require a minimum of US$
                           and we require "Plan A" which has a                                                                                                                        10,000 per person, US$ 100,000 per accident
                           US$10,000 limit                                                                                                                                            for BI.




Cameroon                   State Scheme via Caisse Nationale de            GL policy to be extended to not required            CFA 500,000,000             CFA 100,000,000            Compulsory under the CIMA code. Liability for
                           Prevoyance Sociale. No certification            include "Responsabilite                                                                                    BI is theoretically unlimited but Arts 258 - 266 of
                           required                                        Civile du Chef d'Entreprise".                                                                              the Code include a table of compensation rates.

Canada                     Government Monopoly. No certification           to be added to GL policy       not required         C$5,000,000                 C$1,000,000                Minimum C$500,000 PD/BI combined unless
                           required                                                                                                                                                   Provincial Statutory limits higher
Cayman Islands             The Workers Compensation Law of 1964,           Combined WC/EL policies        not required         KYD 1,000,000               KYD 500,000                Compulsory under the Motor Vehicle Insurance
                           amended in 1996 only requires mandatory         typically have limits of KYD                                                                               (Third Party Risks) Act of 1990 as amended in
                           insurance for employees earning less than       1,000,000                                                                                                  1997 and 2003. Current limits are US$
                           KYD 1,500 per month. The Employment                                                                                                                        1,250,000 per person, US$ 6,250,000 per
                           Law, 2004, when enacted, is to embrace                                                                                                                     accident for BI and US$ 312,500 for PD
                           all employees. Certification will be required
                           once the Employment Law is enacted.



Central African Republic   No information currently available                                                                  100,000                     50,000


Chad                       No information currently available                                                                  100,000                     50,000
Chile                      Statutory Limits under Law 16,744 of 1998 Minimum limits of UF5000             Minimum Death        500,000                     100,000                    Statutory SOAP + plus Excess to UF5000
                                                                     within Third Party Liability         Benefit 3 x Annual                                                          BI/PD
                                                                     policy                               Salary




                                                                                                                Page 4 of 20                                                                  d68b9ade-08ed-4ea5-bf51-4d74e8a20c57.xls
                                                                                                          Personal Accident                                                             Auto Liability (BI = Third Party Bodily Injury,
         Country                  Workers Compensation (WC)                 Employers Liability (EL)              (PA)       General Third Party Liability Professional Liability            PD + Third Party Property Damage)
China (separate entry for   Not required - Law is very ambiguous          to be added to GL policy        Minimum Death      1,000,000                    25,000                        US$25,000 BI/PD unless local city ordinance
Hong Kong)                                                                                                Benefit 3 x Annual                                                            requires a higher limit
                                                                                                          Salary

Colombia                    WC was privatized by Law 100 of 1993                                50,000 Minimum Death           500,000                    100,000                       The obligatory SOAT coverage has very low
                            and is known as Riesgos Professionales                                     Benefit 3 x Annual                                                               limits. We require excess limits to a minimum
                            under Decree Law 1295 of 1994. Business                                    Salary                                                                           of PD/BI US$25,000
                            is written by specialized groups known as
                            ARP's (Administradoras de Riesgos
                            Professionales) - not all being traditional
                            insurance companies. Certification is
                            required




Comoros                     No information currently available                                                                 100,000                    50,000
Congo, Dem. Rep. Of         State scheme under the Instituto Nationale not required                       Minimum Death        100,000                    difficult to obtain, minimum Compulsory under Law 73/013 of 1973. Liability
                            de Securite Sociale. No certification                                         Benefit 3 x Annual                              limits US$ 25,000            is theoretically unlimited but we require at least
                            required                                                                      Salary                                                                       US$ 50,000 PD/BI combined

Congo, Rep. Of              State scheme under the Caisse Nationale not required                          Minimum Death        CFA 200,000,000            Obligatory for many           Compulsory under the CIMA code. Liability for
                            de Securite Sociale. This entity has                                          Benefit 3 x Annual                              professions under CIMA.       BI is theoretically unlimited but Arts 258 - 266 of
                            financial problems so PA is a requirement.                                    Salary                                          Minimum limits CFA            the Code include a table of compensation rates.
                                                                                                                                                          25,000,000
Costa Rica                  Compulsory under Codigo de Trabajo.           not required                    not required         100,000                    US$25,000. However the        The Ley de Transito por Vias Publicas
                            Certification required                                                                                                        State monopolistic insurer    Terrestres # 7331 of 1993 requires compulsory
                                                                                                                                                          (INS) is often reluctant to   BI but death benefits are very low. Our
                                                                                                                                                          give coverage, in which       minimum limits are BI: CRC40,000,000 PD:
                                                                                                                                                          case consult the Insurance    CRC20,000,000
                                                                                                                                                          Unit with full details



Cote d'Ivoire               State Scheme via Caisse Nationale de          GL policy to be extended to                          CFA 500,000,000            CFA 100,000,000               Compulsory under the CIMA code. Liability for
                            Prevoyance Sociale. No certification          include "Responsabilite                                                                                       BI is theoretically unlimited but Arts 258 - 266 of
                            required                                      Civile du Chef d'Entreprise".                                                                                 the Code include a table of compensation rates.

Croatia                     State monopoly (HZZO) no vertification        to be added to GL policy   not required              250,000                    100,000                       Statutory BI/PD limits adequate
                            required                                      (employees can claim under
                                                                          the Obligations Act).
                                                                          Minimum limit US$50,000


Cuba                        State scheme, no certification required                            500,000 not required            1,000,000                  Typically US$ 1000000         No mandatory coverage. US$ 25,000 BI, US$
                                                                                                                                                                                        15,000 PD is common practice
Cyprus                      not required                                  Compulsory under the            not required         CYP 500,000                CYP 200,000                   Compulsory under the Motor Vehicles (Third
                                                                          Employers Liability Law of                                                                                    Party Liability Insurance) Law of 2000 with
                                                                          1997 wihich requires                                                                                          minimum limits of CYP 2,000,000 BI and CYP
                                                                          minimum limits of CYP                                                                                         60,000 PD. EU 4th Directive limits to be
                                                                          50,000 per person, CYP                                                                                        implemented.
                                                                          2,000,000 per event/series
                                                                          of events and CYP
                                                                          3,000,000 aggregate. We
                                                                          require the per person limit
                                                                          to be increased to CYP
                                                                          100,000.




                                                                                                                Page 5 of 20                                                                    d68b9ade-08ed-4ea5-bf51-4d74e8a20c57.xls
                                                                                                 Personal Accident                                                         Auto Liability (BI = Third Party Bodily Injury,
        Country            Workers Compensation (WC)               Employers Liability (EL)             (PA)       General Third Party Liability Professional Liability         PD + Third Party Property Damage)
Czech Republic       The state Social Security scheme provides   Currently only written         not required       CZK 15,000,000               Obligatory for most        Motor Third Party Liability Insurance Act
                     very low limits. These are "topped up" by   (fronted) by two insurers for                                                  professions. Minimum       Amendment wffective 5/1/04 implemented EU
                     purchasing EL cover. No certification       the Ministry of Finance. It is                                                 limits CZK 10,000,000      4th Directive increasing statutory limits to CZK
                     required.                                   uncertain whether the class                                                                               35,000,000 per person BI and CZK 18,000,000
                                                                 will be privatized or rolled                                                                              PD. The EU 5th Directive is to be implemented.
                                                                 into Social Security.
                                                                 Certification is required.


Denmark              Compulsory (certification required)         not required                not required         1,000,000                    500,000                     Compulsory EU 4th Directive requires DKK
                     minimum limit DKK 8,500,000                                                                                                                           87,000,000 BI and DKK 17,000,000. These
                                                                                                                                                                           limits will increase when the 5th Directive is
                                                                                                                                                                           enacted.
Djibouti             No information currently available                                                           100,000                      50,000
Dominica             Social Security benefits under the Social Minimum limits XCD            not required         Minimum limit XCD 500,000    US$25,000. Coverage is      Compulsory under the Motor Vehicles
                     Security Act of 1975, the Employee Safety 1,000,000                                                                       generally placed offshore   Insurance (Third Party Risks) Act # 19 of 1988
                     Act of 1982, the Environmental Health                                                                                     at Lloyds                   with limits of XCD 200,000 per person,
                     Services Act of 1997 and the Noise                                                                                                                    XCD1,000,000 per event BI, XCD 100,000 per
                     Abatement Act of 1993. No certification                                                                                                               claim XCD 500,000 per event PD
                     required.
Dominican Republic   The Accidentes de Trabajo Law #385 as       to be added to GL policy    Minimum Death        150,000                      50,000                      Statutory limits initially created by Law 4117 of
                     modified by Law 907 of 1978 have been                                   Benefit 3 x Annual                                                            1955 and amended by Dcree 1339 of 1995
                     consolidated into the Socoal Security Law                               Salary                                                                        were superceded by Insurance Law #146 and
                     ##87 of 2001 which nationalised the                                                                                                                   Resolution 010 in 2002 but limits remain
                     business. State scheme, no certification                                                                                                              inadequate at DOP 100,000 PD, DOP 100,000
                     required                                                                                                                                              per person, DOP 200,000 per event BI. We
                                                                                                                                                                           require minimum limits of US$25,000 PD/BI
                                                                                                                                                                           combined.


                                                                                                                  50,000                       5,000
Ecuador              State scheme - IESS no certification        not required                Minimum Death        250,000                      50,000                      US$25,000 PD/BI
                     required                                                                Benefit 3 x Annual
                                                                                             Salary
Egypt                State scheme - Law 79/125 no certification Minimum limit US$50,000      Minimum Death        250,000                      50,000                      Statutory BI is unlimited. PD minimum
                     required                                                                Benefit 3 x Annual                                                            US$20,000
                                                                                             Salary
El Salvador          State scheme under the Instituto            not required                Minimum Death        250,000                      Limited availability,       Compulsory under Decree 487 published in the
                     Salvadoreno de Seguro Social. No                                        Benefit 3 x Annual                                minimum limit US$50,000     Official Gazette # 212 on 11/16/95 and
                     certification required                                                  Salary                                                                        Regulated by Reglamento de Transito Arts. 63 -
                                                                                                                                                                           71 published in 1996 but the Law has yet to be
                                                                                                                                                                           enacted. We require minimum limits of US$
                                                                                                                                                                           25,000 PD/BI combined.


Equatorial Guinea    No information currently available                                                           100,000                      50,000
Eritrea              No information currently available                                                           100,000                      50,000
Estonia              Was due to become obligatory in 2003 but to be added to GL policy       Minimum Death        Euro 500,000                 Euro 50,000 unless          Motor Third Party Liability Insurance Act of
                     this has been postponed. Until this occurs with minimum limits of EEK   Benefit 3 x Annual                                statutory requirements      2001 made coverage compulsory. The limits of
                     we require PA cover.                       5,000,000                    Salary                                            higher                      EEK 5,500,000 BI and EEK 1,600,000 PD meet
                                                                                                                                                                           EU 4th Directive requirements. The 5th
                                                                                                                                                                           Directive is being implemented which will raise
                                                                                                                                                                           limits to Euro 1,000,000 BI and Euro 500,000
                                                                                                                                                                           PD




                                                                                                   Page 6 of 20                                                                    d68b9ade-08ed-4ea5-bf51-4d74e8a20c57.xls
                                                                                                   Personal Accident                                                            Auto Liability (BI = Third Party Bodily Injury,
            Country          Workers Compensation (WC)                 Employers Liability (EL)            (PA)       General Third Party Liability Professional Liability           PD + Third Party Property Damage)
Ethiopia              Not obligatory but under Labour                 not required                 Minimum Death      250,000                      25,000                       Legislation has been under discussion for many
                      Proclamation # 377/2003 employers are                                        Benefit 3 x Annual                                                           years but coverage remains voluntary. We
                      liable for injury (Art 96), medical (Art 105)                                Salary                                                                       require limits of US$ 5,000 per person, 25,000
                      and diability/survivors pension (Art 107).                                                                                                                per accident BI and US$ 15,000 PD
                      Certification is required. Alternatively, we
                      will accept a PA policy



Fiji                  The Workers Compensation Act of 1965            Responsibility established   not required         FJD 500,000                 FJD 100,000 (often placed Compulsory under Ordinance 19 of 1948 and
                      established benefits but did not make           under the Health & Safety at                                                  offshore).                Ordinance 27 of 1954, BI is unlimited. PD is not
                      insurance compulsory. Benefits have not         Work Act of 1966. Policies                                                                              compulsory but we require a minimum of FJD
                      been updated since 1992. Certification          are issued in combination                                                                               100,000
                      required                                        with WC. Minimum limits
                                                                      FJD 250,000


Finland               Compulsory under the Occupational               not required                 Not required but     Euro 2,000,000              Euro 100,000                Compulsory under Motor Vehicle Insurance Act,
                      Accidents Insurance Act, 1948, as                                            often added to the                                                           1960. BI is unlimited, PD is Euro 3,300,000. EU
                      amended in 1981. Certification required.                                     WC policy to provide                                                         5th Directive to be implemented.
                                                                                                   24 hour coverage.

France                State scheme (CNPS). No certification           to be added to GL policy     not required         Euro 2,000,000              Euro 500,000                Statutory Limits (BI unlimited, PD Euro
                      required                                                                                                                                                  450,000)
Gabon                 Limited benefits available under Social         not required                 Minimum Death        CFA 100,000,000             CFA 25,000,000              Compulsory under the CIMA code. Liability for
                      Security. No certification required.                                         Benefit 3 x Annual                                                           BI is theoretically unlimited but Arts 258 - 266 of
                                                                                                   Salary                                                                       the Code include a table of compensation rates.

Georgia               Very limited Social Security Benefits. No       not required                 Minimum Death        250,000                     50,000                      Introduced as compulsory BI only in 1997 with
                      certification required.                                                      Benefit 3 x Annual                                                           amendments in 2001. The limits are extremely
                                                                                                   Salary                                                                       low. We require a minimum of US$ 50,000
                                                                                                                                                                                PD/BI combined
Germany               Statutory "Berufsgennosenschaften" no           to be added to GL policy     Minimum Death        2,500,000                   1,000,000                   PD/BI US$10,000,000 (Euro 50,000,000 per
                      certification required                                                       Benefit 3 x Annual                                                           event)
                                                                                                   Salary
Ghana                 Statutory limits under Workers                  to be added to WC policy     Minimum Death        250,000                     100,000                     Statutory limits under Motor Vehicle (Third
                      Compensation Act of 1987 amended in                                          Benefit 3 x Annual                                                           Party Injuries) Act of 1958 as amended in 2002:
                      1994. Certification required                                                 Salary                                                                       BI unlimited, PD GHC10m. We require
                                                                                                                                                                                minimum PD limit of US$10,000
Gibraltar             Covered by the Employment Injuries              to be added to GL policy     not required         GBP 2,000,000               GBP 1,000,000               Compulsory under the Insurance (Motor
                      Insurance Scheme of 1952. No                                                                                                                              Vehicles)(Third Party Risks) Ordinance of 1996.
                      certification needed                                                                                                                                      Currently EU 4th Directive limits apply

Greece                Covered by Social Security (IKA). No            Minimum limit Euro 50,000    not required         Euro 500,000                Euro 300,000                Compulsory EU 4th Directive applies
                      certification required                          per accident, Euro 100,000
                                                                      aggregate
Grenada               Social Security benefits under the National Minimum limits XCD               not required         Minimum limit XCD 500,000   US$25,000. Coverage is      Compulsory under the Motor Vehicles
                      Insurance Act of 1983, the Factories Act of 1,000,000                                                                         generally placed offshore   Insurance (Third Party Risks) Act #19 of 1939
                      1958, the Grenada Employment Act of                                                                                           at Lloyds                   and amendments with limits of XCD 100,000
                      1999 and the Labour Code of 2000. No                                                                                                                      per person, XCD 500,000 per event BI, XCD
                      certification required                                                                                                                                    100,000 per claim, XCD 200,000 per event PD


Guadeloupe            no other information currently available                                                          500,000                     100,000

Guam                  Compulsory under Guam Workers                   to be added to GL policy     not required         1,000,000                   500,000                     Mandatory limits are US$ 20,000 PD, US$
                      Compensation Law - Title 22 Guam Code                                                                                                                     25,000 per person US$ 50,000 per accident.
                      Annotated. Certification required                                                                                                                         We require US$ 50,000 PD, US$ 100,000 per
                                                                                                                                                                                person US$ 200,000 per accident BI.




                                                                                                         Page 7 of 20                                                                   d68b9ade-08ed-4ea5-bf51-4d74e8a20c57.xls
                                                                                             Personal Accident                                                              Auto Liability (BI = Third Party Bodily Injury,
         Country         Workers Compensation (WC)           Employers Liability (EL)               (PA)       General Third Party Liability Professional Liability             PD + Third Party Property Damage)
Guatemala          Covered under Decree Law 295 of 1946 by to be added to GL policy         not required       GTQ 1,000,000                GTQ 250,000                     Currently only compulsory for Inter City buses.
                   the Instituto Guatemalteco de Seguridad                                                                                                                  We require GTQ 200,000 PD/BI combined
                   Social. No certification required

Guinea             No information currently available                                                             100,000                   50,000
Guinea Bissau      No information currently available                                                             100,000                   50,000
Guyana             State scheme under National Insurance      minimum limits of         Minimum Death             100,000                   25,000                          Motor Vehicles Insurances (Third Party Risks)
                   and Social Security Act no15 of 1969. No   US#100,000 to be added to Benefit 3 x Annual                                                                  Act of 1937, modified in 1986 has inadequate
                   certification required                     GL policy                 Salary                                                                              statutory limits. Minimum US$10,000 for BI and
                                                                                                                                                                            PD required
Haiti              The Social Security Decree Law of 1949     not required                  Minimum Death         100,000                   US$ 50,000 This would      The Motor Third Party Decree of 1964,
                   established benefits which are                                           Benefit 3 x Annual                              need to be placed offshore amended in 1987 requires compulsory
                   administered by the state owned Office                                   Salary                                                                     coverage of HGO 12,500 for BI and HGO 7,500
                   d'Assurances Accidents du Travail                                                                                                                   PD to be placed via the state owned Office
                   (OFATAMA) operated under L'Institute                                                                                                                d'Assurance Contre Tiers. We require voluntary
                   d'Assurances Sociale d'Haiti. No                                                                                                                    cover of US$ 20,000 PD/BI combined in
                   certification required                                                                                                                              addition.
Honduras           State Scheme under 1959 Labor Law.         to be added to GL policy      Minimum Death         50,000                    10,000                          Not compulsory. We require minimum limits of
                   Limits are nominal, No certification                                     Benefit 3 x Annual                                                              BI US$ 10,000, PD US$ 5,000
                   required                                                                 Salary
Hong Kong          Statutory limits                           to be included in WC policy   not required          1,000,000                 750,000                         BI compulsory (HK$100m.) PD US$100,000

Hungary            State scheme. No certification required    Minimum limits HUF            not required          HUF 250,000,000           Compulsory for over 30    Statutory minimum limits HUF 300,000,000 BI
                                                              25,000,000 per event, HUF                                                     professions. Minimum      (per person), HUF 500,000,000 PD. EU Fifth
                                                              100,000,000 annual                                                            limits HUF 20,000,000 per Directive to be applicable in due course.
                                                              aggregate                                                                     event, HUF 100,000,000
                                                                                                                                            annual aggregate


Iceland            State scheme under the Social Security     included in GL policy (I.e. is Minimum Death        ISK 150,000,000           ISK 10,000,000 unless           Compulsory. Current EU $th Directive limits are
                   Act 117/1993. No certification required.   not excluded).                 Benefit 3 x Annual                             statutory limits higher         ISK 228,000,000 BI and ISK 101,000,000 PD.
                                                                                             Salary                                                                         5th Directive being implemented

India              Statutory limits apply under the Workers Either included in WC or        Minimum Death         250,000                   50,000                          PD US$20,000 (Statutory BI is unlimited)
                   Compensation Act of 1923 as amended by added to General Liability        Benefit 3 x Annual
                   the Act of 1995. Purchase is not                                         Salary if WC not
                   compulsory. Includes EL. If WC not                                       purchased
                   purchased, PA becomes a requirement
                   and EL must be added to Third Party
                   Liability



Indonesia          Law 33 of 1977 as amended by Law 3 of      Minimum limit US$100.000      Minimun Death         250,000                   US$25,000. (Construction        Law 34/1964 on the Fund for Road Traffic
                   1992 and expanded in 1993 created                                        Benefit 3 x Annual                              Services Law 18/1999            Accidents provide for compulsory insurance via
                   JAMSOSTEK, which is compulsoty for                                       Salary.                                         requires architects, civil,     State owned Jas Raharja, but this is basically
                   firms with over 10 employees. Foreign                                                                                    mechanical, electrical etc.     limited to modest medical expenses (limit IDR
                   workers are now included via Decree                                                                                      entities to guarantee their     10,000,000). We require a minimum of
                   #KEP-67/MEN/IV/2004.                                                                                                     work for 10 years. It is not    US$15,000 for PD, BI and Passenger Liability
                                                                                                                                            clear that this liability can
                                                                                                                                            be insured - as, eg, it must
                                                                                                                                            be in France etc.)




                                                                                                  Page 8 of 20                                                                     d68b9ade-08ed-4ea5-bf51-4d74e8a20c57.xls
                                                                                                         Personal Accident                                                            Auto Liability (BI = Third Party Bodily Injury,
          Country                      Workers Compensation (WC)              Employers Liability (EL)          (PA)       General Third Party Liability Professional Liability            PD + Third Party Property Damage)
Iran                            State scheme under Social Security. No      Not a traditional coverage  not required       250,000                      25,000                        Compulsory with limits for BI linked to Diyeh
                                certification required                      but now available. Coverage                                                                               (see Employers Liability), PD is IRR2m. We
                                                                            limked to Diyeh (blood                                                                                    require a minimum of IRR 50,000,000 for PD
                                                                            money) limits which are                                                                                   and IRR 200,000,000 for BI
                                                                            changed every six months
                                                                            by the Ministry of Justice.
                                                                            We require the coverage



Iraq: Requirements are those    There is no legislation as such but         not required                Minimum Death          250,000                  Coverage is virtually         Compulsory under the Road Traffic Act with
technically/theoretically       employees are covered for loss of wages                                 Benefit 3 x Annual                              unknown in Iraq and even      unlimited liability for BI. "Premiums" are paid via
available. The current actual   under Social Security. Expatriates are                                  Salary. (Note: it is                            Doctors/Hospitals do not      a levy on gasoline so theoretically all vehicles
situation is unclear            covered but the limits are very low so they                             unclear whether the                             purchase. This situation is   are insured. These premiums are handed over
                                should have coverage appropriate for their                              local insurers have                             likely to change and we       to the National Insurance Company which
                                country of origin                                                       the reinsurance                                 should endeavor to get a      administers claims. PD limits are unknown but
                                                                                                        capacity to insure                              minimum of US$25,000 in       we should endeavor to get a minimum of
                                                                                                        foreign workers                                 limits                        $25,000


Ireland                         State scheme. No certification required     to be added to GL policy.   not required           2,000,000                1,000,000                     BI is unlimited under Road Traffic Act. Minimum
                                                                            The Personal Injuries                                                                                     PD is Euro350,000 under the EU Fourth
                                                                            Assessment Board (PIAB)                                                                                   Directive
                                                                            Act of 2003 handles
                                                                            quantum for claims


Israel                          State Fund, no certification required.       minimum limit              not required           1,000,000                150,000                       Compulsory under the Compensation for Traffic
                                Administered by National Insurance           US$5,000,000                                                                                             Accident Casualties Law 5735/1975 and Motor
                                Institute of Israel under National Insurance                                                                                                          Vehicle Insurance Law 5730/1970. BI is
                                Law, 1995                                                                                                                                             unlimited by Statute. Minimum PD limit of
                                                                                                                                                                                      NIS350,000 required.
Italy                           Compulsory under Istituto Nazionale per     Minimum limit               not required           Euro 3,000,000           Euro 1,000,000                Compulsory under Law 990 of 12/24/69 and
                                L'assicurazione contra gli Infortuni sul    Euro3,000,000. May be                                                                                     following. EU Fifth Directive requires Euro
                                Lavoro (INAIL) No certification required    added to GL policy                                                                                        1,000,000 BI and Euro 500,000 PD

Jamaica                         State scheme, no certification required     minimum J$10,000,000        not required           250,000                  100,000                       Statutory limits not sufficient. Minimum limit
                                                                                                                                                                                      PDJ$1,500,000 per accident BI J$2,000,000
                                                                                                                                                                                      per person, J$5,000,000 per accident

Japan                           The Workers Compensation Insurance Act minimum limits Yen               Minimum Death          2,500,000                There are special wordings    The Automobile Liability Security Law (CALI)
                                of 1947 provides Social Security type    30,000,000                     Benefit 3 x Annual                              for 23 professions with       was introduced in 1955 for BI only. Limits were
                                benefits. Excess benefits are available                                 Salary (NB the                                  coverage usually arranged     last increased in 2002. We require CALI plus
                                from the private insurance market but                                   Japanese market                                 by a Professional             excess limits to US$ 500,000 BI and US$
                                larger employers tend to self insure the                                has a broad                                     Association. We require a     100,000 PD
                                exposure. No certification required                                     definition of PA,                               minimum of Yen
                                                                                                        including, in some                              100,000,000
                                                                                                        cases, nursing care
                                                                                                        and "maturity refund"
                                                                                                        which is a savings
                                                                                                        vehicle. We only
                                                                                                        require traditional PA
                                                                                                        coverage).


Jordan                          A state scheme under the Social Security not required                   Minimum Death          JD 100,000               JD 25,000                     1984 Law amended by Third Party Liability
                                Law #19, 2001. Administered by the Social                               Benefit 3 x Annual                                                            Compulsory Motor Insurance Regulation #32,
                                Security Fund. No certification required                                Salary                                                                        2001 establishes BI limits of JD 10,000 (for
                                                                                                                                                                                      death) and PD limits of JD 75,000. We require
                                                                                                                                                                                      a BI limit of JD 25,000




                                                                                                              Page 9 of 20                                                                    d68b9ade-08ed-4ea5-bf51-4d74e8a20c57.xls
                                                                                              Personal Accident                                                             Auto Liability (BI = Third Party Bodily Injury,
         Country         Workers Compensation (WC)               Employers Liability (EL)             (PA)        General Third Party Liability Professional Liability           PD + Third Party Property Damage)
Kazakhstan         Required but not yet obligatory under Art.   not required                 Minimum Death        50,000                       10,000                       Compulsory under Law 139 of 1996 but limits
                   20 of the Law on Safety at Work.                                          Benefit of 10 x                                                                are inadequate. We require a minimum of
                   Coverage is provided via a Personal                                       Annual Salary as                                                               US$20,000 PD/BI
                   Accident policy                                                           required by Art. 30
                                                                                             of the Law on Safety
                                                                                             at Work
Kenya              WC Act 72 of 1948 limits plus PA             US$100,000 per occurrence Minimum Death           US$250,000                  US$100,000                    PD US$50,000 (Statutory BI is unlimited)
                                                                                          Benefit 3 x Annual
                                                                                          Salary
Kiribati           No information currently available                                                             100,000                     25,000
Korea, Rep.of      Benefits provided by Social Security under   KRW 100,000,000 per          not required         KRW 300,000,000             KRW 100,000,000 (some         Obligatory under the Compulsory Liability
                   the Labour Standards Law 1953 and the        person, KRW 200,000,000                                                       professions pay a cash        Security Law of 1963 (CALI). Limits were
                   Industrial Accidents Compensation            per occurrence (except not                                                    deposit to their              increased in 2005 to KRW 100,000,000 for
                   Insurance Law of 1964. No certification      required for one person                                                       professional association or   Death, KRW 20,000,000 other BI, KRW
                   required unless it is a one employee         firms)                                                                        purchase a Bond, but          10,000,000 PD. However it is common to
                   company as these are exempted from the                                                                                     limits are rarely adequate.   purchase voluntary additional coverage to
                   Act                                                                                                                                                      unlimited PD/BI and we require this.


Kuwait             Benefits are provided for by the Labour   Minimum limits KWD              not required (but in KWD 150,000                 KWD 50,000                    Compulsory under Road Traffic Act 1959 as
                   Law 38.1964 and Ministerial Order 66.1983 100,000 per person, KWD         certain cases WC                                                               amended by Traffic Law 67/1976. Both BI and
                   but insurance is not compulsory.          250,000 aggregate               issued in conjunction                                                          PD are unlimited.
                   Certification required                                                    with PA and/or
                                                                                             Group Life).


Kyrgyz Republic    Not compulsory but the Law on Work        not required                    not required         100,000                     50,000                        Not compulsory. We require minimum limits of
                   requires employers to pay 20 x salary for                                                                                                                US$ 20,000 BI and US$ 20,000 PD.
                   death plus a pension to dependents to age
                   18 (or 23 if in full time education).
                   Certification required.
Lao PDR            Responsibility defined in the Workers         not required                Minimum Death        100,000                     US$ 25,000 but currently      Compulsory since 1990 (when no insurance
                   Compensation Act of 1990 and reaffirmed                                   Benefit 3 x Annual                               only freely available for     company existed!). The limits ae extremely with
                   by the Labor Law of 1994, coverage is                                     Salary                                           architects                    a maximum liability under the Act of KIP
                   provided by the Social Security System for                                                                                                               10,000,000 (US$ 926). We require "Option IV"
                   Enterprise Employees which incepted in                                                                                                                   with limits of KIP 450,000,000 BI and KIP
                   2001. No certification is required but limits                                                                                                            50,000,000 PD.
                   are very low so PA is a requirement


Latvia             Covered by the State Welfare System. No not required                      Minimum Death        LAT 500,000                 LAT 50,000 unless             EU 4th Directive introduced 2004. Limits are
                   certification required.                                                   Benefit 3 x Annual                               staturory limits higher       LAT 250,000 BI and LAT 70,000 PD
                                                                                             Salary
Lebanon            Decree #136 of 9/16/83 has not yet been see WC                            Minimum Death        250,000                     50,000                        1977 Law requiring Compulsory BI coverage
                   enacted and we will accept a WC policy                                    Benefit 3 x Annual                                                             was enacted in 2003 with limits of US$500,000
                   (extended to include Employers Liability) or                              Salary if WC not                                                               for cars. We require also a minimum of
                   a PA policy in lieu.                                                      purchased                                                                      US$50,000 for PD. There is a possibility of new
                                                                                                                                                                            Legislation in 04/05 which may establish a
                                                                                                                                                                            higher PD limit.
Lesotho            No information currently available but                                                         500,000                     200,000
                   South African limits would not be
                   unreasonable.
Liberia            No information currently available                                                             100,000                     50,000
Libya              Govt. monopoly, no certification             Minimum limit US$100.000     not required         250,000                     25,000                        BI Statutory limits PD US$25,000
Lithuania          State scheme administered since 2000 by not required                      Minimum Death        LIT 1,000,000               LIT 150,000 unless            Compulsory since 2002 with very low limits. EU
                   SoDra. No certification required                                          Benefit 3 x Annual                               statutory requirements        4th Directive limits of Euro 500,000 PD and
                                                                                             Salary                                           higher                        Euro 1,000,000 BI effective since May 2004.

Luxembourg         State scheme                                 not required                 not required         2,500,000                   1,000,000                     Statutory BI/PD is unlimited




                                                                                                  Page 10 of 20                                                                    d68b9ade-08ed-4ea5-bf51-4d74e8a20c57.xls
                                                                                           Personal Accident                                                         Auto Liability (BI = Third Party Bodily Injury,
         Country         Workers Compensation (WC)              Employers Liability (EL)           (PA)       General Third Party Liability Professional Liability        PD + Third Party Property Damage)
Macedonia          State scheme, no certification required. PA not required                Minimum Death      Euro 100,000                 Euro 50,000 unless        The Motor Third Party Liability Act of 2005 will
                   is required.                                                            Benefit 3 x Annual                              statutory requirements    replace Part 5 of the Insurance Act of 1997 with
                                                                                           Salary                                          higher                    increased limits of Euro 50,000 PD/BI (for
                                                                                                                                                                     cars). These limits will increase annually to
                                                                                                                                                                     2010 when they will be Euro 500,000 PD and
                                                                                                                                                                     Euro 1,000,000 (for cars). As of 4/04 the new
                                                                                                                                                                     Act was not in force but require a minimum of
                                                                                                                                                                     Euro 50,000 PD/BI or higher as required by
                                                                                                                                                                     Statute.


Madagascar         Some coverage available from the Caisse not required                    Minimum Death        MFR 5,000,000,000          MFR 1,000,000,000         Statutory is theoretically unlimited but in
                   Nationale de Prevoyance Sociale                                         Benefit 3 x Annual                                                        practice limited by Reinsurance to MFR
                   (CNaPS). Certification not required. (PA is                             Salary                                                                    5,000,000. The Insurance Law of
                   required).                                                                                                                                        1999/Application Decree 2000-986 is to include
                                                                                                                                                                     a scale of benefits for most injuries but has not
                                                                                                                                                                     yet been published (May 05).


Malawi             Introduced by the Workers Compensation Minimum limits MWK             Minimum Death          US$100,000. Up to          US$50,000                 Road Traffic Act of 1997 provide for unlimited
                   Acy of 1990 (and amendments) but is not 1,000,000 per person, MWK Benefit 3 x Annual         US$1,000,000 said to be                              liability for Bodily Injury. The Property Damage
                   compulsory by law. Limits are very low and 5,000,000 annual aggregate Salary                 available                                            limit of MWK 250,000 was increased (in error)
                   should be supplemented by a Personal                                                                                                              by the Government Gazette to a minimum of
                   Accident insurance. Certification required                                                                                                        MWK 5,000,000. This is under discussion. We
                                                                                                                                                                     will accept MWK 2,500,000




Malaysia           State Scheme under the Employers Social Minimum limit of                not required         500,000                    50,000                    Road Traffic Act of 1987 requires unlimited BI
                   Security Act of 1969 and Employers Social US$500,000                                                                                              coverage (passenger liability is only compulsory
                   Security (General Regulations) 1971 which                                                                                                         for public transport vehicles). We require a
                   brought in the Social Security Organization                                                                                                       minimum of US$25,000 for Passenger Liability
                   (SOCSO). Coverage is obligatory but does                                                                                                          and PD.
                   not apply to foreign workers. These are
                   protected by the Workers Compensation
                   Act of 1952 (as amended). No certification
                   required for SOCSO. Certification is
                   required if foreign workers are employed




Maldives           not known                                  to be added to the GL policy not required         100,000                    25,000                    Statutory coverage

Mali               State scheme under the Institute Nationale not required                 Minimum Death        100,000                    50,000                    Compulsory under the CIMA code. Liability for
                   de la Prevoyance Sociale. No certification                              Benefit 3 x Annual                                                        BI is theoretically unlimited but Arts 258 - 266 of
                   required.                                                               Salary                                                                    the Code include a table of compensation rates.




                                                                                                Page 11 of 20                                                                d68b9ade-08ed-4ea5-bf51-4d74e8a20c57.xls
                                                                                                  Personal Accident                                                           Auto Liability (BI = Third Party Bodily Injury,
            Country          Workers Compensation (WC)               Employers Liability (EL)            (PA)       General Third Party Liability Professional Liability           PD + Third Party Property Damage)
Malta                 Under the Conditions of Employment            The Employers Liability      not required       MTL 1,000,000                MTL 100,000 unless           Malta Road Traffic Act 1939 limits amended on
                      Registration (ERA) Act employers are          (Compulsory Insurance) Act                                                   statutory requirements are   EU accession to MTL 500,000 for BI and MTL
                      responsible health and welfare of staff for   of 1974 was passed by                                                        higher.                      100,000 for PD
                      full salary for 12 months (6 day              parliament but never
                      "deductible" for work related accidents).     enacted, Cover for
                      Insurance is not compulsory and should be     occupational accidents and
                      added to the EL policy                        disease is available and we
                                                                    also require that the policy
                                                                    be extended to cover ERA
                                                                    benefits (see Workers
                                                                    Comp).

Marshall Islands      No information currently available                                                             100,000                      25,000
Mauretania            No information currently available                                                             100,000                      50,000
Mauritius             State scheme administered by the National Required - used to pay first   To comply with IIS    MUR 10,000,000               MUR 5,000,000               Statutory coverage is unlimited for BI/PD but
                      Pension Scheme (1976) with benefits       15 days disability which is    benefits standard is                                                           there are some indications legislation will be
                      defined by the Industrial Injury Scheme   not covered by NPS             6 x Annual Salary for                                                          introduced to limit liability.
                      (1979).                                                                  Death and 8 x for
                                                                                               Permanent Disability



Mexico                State Scheme under Social Security            to be added to GL policy   Minimum Death         500,000                      100,000                     The Federal District Assembly passed a law in
                      legislation. No certification required.                                  Benefit 3 x Annual                                                             1997 (Seguro Obligatorio para el Uso de
                                                                                               Salary                                                                         Vehiculos Automotores - SUVA), to introduce
                                                                                                                                                                              compulsory BI cover. Due to a change in
                                                                                                                                                                              government it was only enacted for Public
                                                                                                                                                                              Transport Vehicles (however this applies
                                                                                                                                                                              nationally for vehicles carrying fare paying
                                                                                                                                                                              passengers). Nueva Leon and Chihuahua have
                                                                                                                                                                              legislation requiring compulsory coverage.
                                                                                                                                                                              Users of toll roads have a form of coverage
                                                                                                                                                                              applicable only while on the road. Commercial
                                                                                                                                                                              vehicles on any Federal Highway are required
                                                                                                                                                                              to have compulsory BI/PD coverage. As all of
                                                                                                                                                                              these limits are quite low, we require a
                                                                                                                                                                              minimum of US$ 50,000 combined for BI/PD.




Micronesia            No information currently available                                                             100,000                      25,000
Moldova               Law on Labor Protection insurance is          not required               Law on Labor          100,000                      25,000                      Law on Compulsory Third Party Liability
                      effectively issued as Personal Accident       (effectivelycovered by     Protection requires a                                                          Insurance of the Owners of Motor Vehicles and
                                                                    Personal Accident)         minimum Death                                                                  City Electric Transport of 1994 (effective
                                                                                               Benefit of 10 years                                                            1/1/95) requires unlimited BI and PD cover of
                                                                                               salary                                                                         MOL 180,000. Due to devaluation, we require a
                                                                                                                                                                              minimum PD limit of US$25,000


Mongolia              The Law requiring this coverage has not       not required               Minimum Death         25,000                       5,000                       Law on Insurance of 1997, amended by
                      been implemented. We will accept PA                                      Benefit 3 x Annual                                                             Regulation 95 of 19 March, 2003 provides
                      coverage in lieu                                                         Salary                                                                         complulsory limits of MTN1,000,000. We
                                                                                                                                                                              require a minimum of US$5,000 for both PD
                                                                                                                                                                              and BI
Morocco               Insurance, with limits as per the Workers     not required               Minimum Death         MDH 5,000,000                MDH 1,000,000               Compulsory under Law 1-69-100 of 1969 as
                      Compensation Insurance Law 18-01 of                                      Benefit 3 x Annual                                                             amended by Law 1-84-177 of 1984. The BI
                      2002 (amended in 2003, will not become                                   Salary                                                                         coverage, which was unlimited, was reduced to
                      compulsory until 2006, but we require the                                                                                                               MDH 10,000,000 under the Insurance Law of
                      coverage to be in place.                                                                                                                                2002 (17-99). We require minimum limits of
                                                                                                                                                                              MDH 10,000,000 for BI/PD combined.




                                                                                                     Page 12 of 20                                                                   d68b9ade-08ed-4ea5-bf51-4d74e8a20c57.xls
                                                                                                     Personal Accident                                                               Auto Liability (BI = Third Party Bodily Injury,
        Country              Workers Compensation (WC)               Employers Liability (EL)               (PA)       General Third Party Liability Professional Liability              PD + Third Party Property Damage)
Mozambique             to be insured as per the requirements of     not required                    not required       50,000                       10,000                           minimum limits of US$ 25,000 BI/PD combined
                       Decree 8/85. Certfication required
Myanmar                The Workmens Compensation Act of 1923 not required                           Minimum Death        Obligatory under the Insurance Very undeveloped market      Compulsory under Art. VI of the 1993 Insurance
                       imposes strict liability on employers but no                                 Benefit 3 x Annual   Law, but not enforced.         even though the              Law. Limits are MMK 25,000 for Death and BI
                       obligation to insure. Firms with more than                                   Salary               Minimum limit US$ 100,000      Commercial Law on            but unlimited per accident. PD limit is MMK
                       five employees are also bound by the                                                                                             negligence follows English   10,000. It would appear that Excess limits are
                       Social Security Act of 1954, which is a                                                                                          Law and practice.            only available if the premium is paid in US$. We
                       state scheme, no certification required.                                                                                         Minimum US$ 10,000           should endeavor to obtain a minimum of
                       Social security benefits are limited so we                                                                                                                    US$15,000 PD
                       require PA coverage.


Namibia                The Employees Compensation Act of          Minimum limit of NMD              Minimum Death         Minimum limit of NMD          Minimum limit of             The Motor Vehicle Act of 1990 requires
                       1995, which amended the Workmens           1,000,000                         Benefit of 3 x Annual 5,000,000                     NMD500,000 (Note: this       coverage of NMD 250,000 for BI (Passenger
                       Compensation Act of 1941 provides                                            Salary                                              coverage may need to be      Liability is NMD 25,000 per occurrence). This
                       compulsory coverage for employees                                                                                                placed in South Africa)      cover is granted by the State via a levy on
                       earning up to NMD72,000 p.a. This is                                                                                                                          gasoline. We require additional limits with a
                       administered by the State under the Social                                                                                                                    minimum of NMD 2,500,000 BI/PD which is
                       Security Act of 1994. No certification is                                                                                                                     commonly offered.
                       required. (NB most employees will have no
                       coverage under this scheme)


Nepal                  Labor Act of 1992, Art.38 establishes       not required                     Minimum Death        50,000                         10,000                       Transportation Act has not been implemented.
                       mandatory insurance for certain                                              Benefit 5 x Annual                                                               Minimum requirements PD/BI US$10,000
                       occupations but insurance is provided via                                    Salary
                       PA policy - see requirements
Netherlands            There are numerous Acts that trigger        To be added to the GL            not required         Euro 1,250,000 - 5,000,000 as Many professions have    EU 4th Directive limits. EU 5th Directive to be
                       payments under the state Social Security    policy. Liability is generally                        per WC                        "required", but not      implemented
                       schemes but the government involvement      unlimited in the aggregate.                                                         "statutory" limits. Euro
                       is reducing. We require a minimum WC                                                                                            1,000,000 is the minimum
                       limit of Euro 1,250,000 for small
                       companies, increasing to Euro 5,000,000
                       for large companies
Netherlands Antilles   no other information currently available                                                          1,000,000                      50,000

New Zealand            Accident Compensation Corporation            NZ$2,000,000 (cover will    not required             NZ$2,000,000                   NZ$1,000,000                 BI is handled on a No-Fault basis by the
                       provides no-fault coverage. No certification exclude liability for which                                                                                      Govt.Accident Compensation Comission
                       required.                                    compensation is provided to                                                                                      (ACC), there are no statutory limits as such.
                                                                    any extent by the Accident                                                                                       The scheme is funded by a levy on gasoline
                                                                    Rehabilitation and                                                                                               and a charge in the vehicle registration fee. PD
                                                                    Compensation Act, 1992.                                                                                          NZ$20,000,000 is commonly available.


Nicaragua              State scheme under the Instituto            not required                     Minimum Death         100,000                       10,000                       The Ley de Regimen de Circulation Vehicular e
                       Nicaraguense de Seguridad Social. No                                         Benefit of 3 x Annual                                                            Infracciones de Transito passed 6/20/02 and is
                       certification required                                                       Salary                                                                           now approved as Law # 431. Some doubt
                                                                                                                                                                                     exists as to whether certain types of
                                                                                                                                                                                     organisations (such as Cooperatives) will be
                                                                                                                                                                                     allowed to "insure" the liabilities themselves.
                                                                                                                                                                                     The limits ar US$ 2,500 per persom/US$ 5,000
                                                                                                                                                                                     per accident for Bodily Injury. We require
                                                                                                                                                                                     increased limits of US$10,000 for PD/BI
                                                                                                                                                                                     combined




                                                                                                         Page 13 of 20                                                                      d68b9ade-08ed-4ea5-bf51-4d74e8a20c57.xls
                                                                                               Personal Accident                                                           Auto Liability (BI = Third Party Bodily Injury,
           Country         Workers Compensation (WC)              Employers Liability (EL)             (PA)       General Third Party Liability Professional Liability           PD + Third Party Property Damage)
Niger                State scheme under the Caisse Nationale     not required                  Minimum Death      100,000                      50,000                      Compulsory under the CIMA code. Liability for
                     de Securite Sociale. No certification                                     Benefit 3 x Annual                                                          BI is theoretically unlimited but Arts 258 - 266 of
                     required.                                                                 Salary                                                                      the Code include a table of compensation rates.

Nigeria              Obligatory under the Workmens               included in the WC            not required          NGN 10,000,000            NGN 5,000,000               BI is for unlimited liability and is compulsory
                     Compensation Decree 17 of 1985.             coverage in Nigeria                                                                                       under the Motor Vehicles (Third Party)
                     Certification required                                                                                                                                Insurance Act of 1950. PD cover of NGN
                                                                                                                                                                           1,000,000 is compulsory under the Insurance
                                                                                                                                                                           Act. However we require a minimum of NGN
                                                                                                                                                                           2,000,000
Norway               Compulsory to statutory limits (based on     not required                 not required          NOK 10,000,000            NOK 5,000,000 (certain      Compulsory under Motor Liability Law
                     earnings) under Lov om yrkesskade, 1989.                                                                                  professions required by     (Bilansvarsloven, 1961) amended in 1974. BI is
                     We require certification of this and also of                                                                              Law to have higher limits   unlimited and PD is NOK 1,000,000. We
                     the complementary "safety" (trygghet)                                                                                                                 require increased PD limits of NOK 5,000,000
                     coverage


Oman                 Compulsory under Decree 44/77 for           to be added to GL             For companies with    OMR 150,000               OMR 50,000                  Compulsory since 1983 with limits of OMR
                     companieds that have more than 8                                          fewer than 8                                                                75,000 any one accident
                     employees. Certification required. (Omani                                 employees,
                     nationals also have a Social Security                                     Minimum Death
                     scheme)                                                                   Benefit 3 x Annual
                                                                                               Salary


Pakistan             The Workers Compensation Act of 1923           to be added to GL policy    Minimum Death        US$ 250,000               US$ 25,000                  Section 95 of the Motor Vehicle Act. 1939
                     obligates employers with more than 10          with a minimum limit of US$ Benefit 3 x Annual                                                         requires compulsory, unlimited, BI cover. We
                     staff to provide benefits but does not make 100,000                        Salary                                                                     also require minimum PD limits od US$ 20,000
                     the insurance compulsory. There is a
                     salary cap so only lower paid workers
                     benefit. If the Industry is subject to the
                     Social Security Ordinance of 1965 the
                     Social Security Act of 1965 takes
                     precedence. Benefits were increased
                     under the Labour Laws (Amendment)
                     Ordinance, 2001 but are still low. We
                     therefore require the Personal Accident
                     coverage as a supplement. A WC
                     certificate is required where appropriate,
                     no certification required for Social Security.




Palau                No information currently available                                                              100,000                   25,000
Panama               State scheme via the Caja de Seguro         to be added to GL policy      not required          500,000                   50,000                      Compulsory cover was introduced in 1993 but
                     Social. No certification required                                                                                                                     never enacted. Vehicles entering port areas are
                                                                                                                                                                           required to carry US$ 100,000 per person, US$
                                                                                                                                                                           300,000 per accident for BI. We require these
                                                                                                                                                                           limits plus US$ 25,000


Papua New Guinea     No information currently available                                                              100,000                   25,000
Paraguay             Statutory (IPS) under Decree Law 1860 of minimum limit US$25,000          not required          100,000                   25,000                      Not compulsory, legislation has been pending
                     1950, no certification required                                                                                                                       for some time. Standard coverage is PYG
                                                                                                                                                                           40,000,000 Bi and PYG 20,000,000 PD.




                                                                                                     Page 14 of 20                                                                 d68b9ade-08ed-4ea5-bf51-4d74e8a20c57.xls
                                                                                                      Personal Accident                                                            Auto Liability (BI = Third Party Bodily Injury,
           Country           Workers Compensation (WC)          Employers Liability (EL)                     (PA)       General Third Party Liability Professional Liability            PD + Third Party Property Damage)
Peru                  Statutory under Law 26790 (as amended), to be added to GL policy               not required       250,000                      25,000                        Statutory under Law 27181 Art 30 and
                      known as Seguro Complementario de                                                                                                                            Ministerial Resolution 336-2001-MTC 15.02.
                      Trabajo de Riesgo (SCTR). Handled by                                                                                                                         Known as Seguro Obligatorio de Accidentes de
                      Life insurers and Health companies                                                                                                                           Transito (SOAT), as amended by Supreme
                      (Entidades Prestadoras de Salud).                                                                                                                            Decree 001-2004-MTc. However limits are very
                      Certification required.                                                                                                                                      low and we require excess limits of US$30,000
                                                                                                                                                                                   BI/PD
Philippines           Regulated by the Employees                        to be added to GL policy     not required         100,000                    25,000                        Chapter VI of the Insurance Code 1978
                      Compensation and State Insurance Fund             with minimum limits of PHP                                                                                 imposes compulsory BI limit of PHP 50,000.
                      (Presidential Decree 626). Originally via         1,000,000                                                                                                  This is inadequate and we require a minimum
                      Decree 442 - the Labor Code of the                                                                                                                           of US$25,000 PD/BI combined
                      Philippines. As a state administered
                      scheme we do not require certification


Poland                State scheme under the Social Insurance           to be added to GL policy     not required         500,000                    100,000                       Act of 5/22/03 requires Euro 350,000 per
                      Institute (ZUS) (which is financially             with minimum limits of                                                                                     person for BI and Euro 200,000 for PD. These
                      unstable). No certification required              US$50,000                                                                                                  limits are acceptable. Limits are expected to
                                                                                                                                                                                   increase to match the EU 5th Directive

Portugal              Required under Law 100/1997, Decree               Euro 500,000                 not required         Euro 500,000               Euro 500,000 unless           Compulsory under the Codigo da Estrada.
                      Law 143/1999, Law 99/2003 and Law                                                                                              statutory limits higher       Current limits in line with EU 4th Directive
                      35/2004. Certification required

Puerto Rico           State scheme under Workers accident               not required                 not required         1,000,000                  US$ 1,000,000 (medical        Compulsory BI is on a No-Fault basis with limits
                      Compensation Act of 1935 and                                                                                                   malpractice is placed via a   of up to US$ 25,000 for Death. PD is US$
                      amendments. No certification required.                                                                                         pool of insurers with lower   3,000 on a negligence basis. Cost is paid with
                                                                                                                                                     limits).                      Vehicle Licensing. We require a minimum of
                                                                                                                                                                                   US$ 100,000 BI/PD combined.
Qatar                 Responsibilities established by Labour Law Minimum QAR 1,000,000               not required unless QAR 2,000,000               QAR 3,500,000                 Compulsory by Art.58 of the Resolution of the
                      #3/1992 but insurance is not compulsory. (added to WC policy)                  WC not in force.                                                              Minister of the Interior #1/1981. Limits
                      Some firms may insure via a PA policy.                                         Minimum Death                                                                 established under Law #4/1992 are unlimited
                      Certification required                                                         Benefit equal to                                                              for PD and BI. "Blood Money" for death claims
                                                                                                     "Diya" requirements                                                           was increased to QAR 150,000 in 2004


Romania               Law 346/2002 establishes a social security                            500,000 Minimum Death         250,000                    Compulsory for several        Current Statutory limits (2005) are ROL
                      fund but this is not expected to be                                           Benefit 3 x Annual                               professions. Minimum          1,000,000,000 per person, ROL 5,000,000,000
                      operational until 2005 and it is not clear                                    Salary                                           Euro 250,000 unless           per accident BI and ROL 3,000,000,000 PD.
                      whether the benefits will cover the liabilities                                                                                statutory limits higher.      EU 4th Directive limits to be reached by 2007.
                      established by Law 19/2000. Until this                                                                                                                       We accept current statutory limits.
                      situation is clarified, PA is a mandatory
                      requirement


Russia                State scheme (Social Insurance Fund) no           not required                 Minimum Death        250,000                    20,000                        Compulsory limits under Law 40-F2 are not
                      certification required                                                         Benefit 3 x Annual                                                            adequate (RUR 400,000). We require a
                                                                                                     Salary                                                                        minimum of US$20,000 PD/BI
Rwanda                No information currently available.                                                                 100,000                    50,000
Saipan                no other information currently available                                                            500,000                    50,000

Samoa (American)      No information currently available.
Samoa (Western)       No information currently available.                                                                 100,000                    25,000
Sao Tome & Principe   No information currently available.                                                                 100,000                    50,000




                                                                                                          Page 15 of 20                                                                   d68b9ade-08ed-4ea5-bf51-4d74e8a20c57.xls
                                                                                                  Personal Accident                                                            Auto Liability (BI = Third Party Bodily Injury,
         Country              Workers Compensation (WC)             Employers Liability (EL)              (PA)       General Third Party Liability Professional Liability            PD + Third Party Property Damage)
Saudi Arabia            State scheme under the General             SRY 1,000,000                  Minimum Death      SRY 1,000,000                SRY 500,000 but may be       Compulsory under Royal Decree #222 of 2001.
                        Organisation for Social Insurance (GOSI).                                 Benefit 3 x Annual                              difficult to obtain.         BI is unlimited, PD is SRY 5,000,000. However
                        No certification required. However the                                    Salary                                                                       insurance is issued to holders of drivers
                        Labor Law prescribes different benefits                                                                                                                licenses rather than to vehicles.
                        which can be insured under a "Difference
                        in Conditions" (DIC) policy - limits noted
                        under EL. We require either the DIC policy
                        or a PA policy.


Senegal                 Nationalized in 1975 under Law 75-50 but     not required                 Minimum Death        250,000                    US$ 50,000 Coverage is Compulsory under the CIMA code. Liability for
                        the scheme is poorly funded. No                                           Benefit 3 x Annual                              compulsory for some        BI is theoretically unlimited but Arts 258 - 266 of
                        certification required. PA is required                                    Salary                                          professions but is not     the Code include a table of compensation rates.
                                                                                                                                                  easily obtainable. In some
                                                                                                                                                  cases Bonds are posted.


Serbia & Montenegro -   State scheme under Social Security, no        not available               not required         Euro 100,000               often added to TP         Compulsory limits for cars are Euro 100,000
Kosovo                  certification required. Employers are                                                                                     coverage with 25% of that per person, Euro 300,000 per event BI, Euro
                        responsible for the first 60 days of benefits                                                                             limit                     50,000 per claim, Euro 100,000 per event PD
                        but there is no insurance available to cover
                        this.
Serbia & Montenegro -   State scheme under Social Security, no        not available               not required         Euro 100,000               often added to TP         Current Law, Arts 73 - 108 of the Property &
Serbia                  certification required. Employers are                                                                                     coverage with 25% of that Personal Insurance Act, 1996 requires
                        responsible for the first 60 days of benefits                                                                             limit                     compulsory limits of US$ 100,000 PD/BI for
                        but there is no insurance available to cover                                                                                                        cars. Anew law, due to be passed in 2005 will
                        this.                                                                                                                                               increase these limits to Euro 500,000 PD and
                                                                                                                                                                            Euro 1,000,000 BI but the law has been
                                                                                                                                                                            delayed following revocation of the licenses of
                                                                                                                                                                            15 insurance companies (6/05)


Seychelles              no information currently available                                                             250,000                    100,000
Sierra Leone            no information currently available                                                             100,000                    50,000
Singapore               Compulsory under the Workers                 Issued as part of WC policy, not required         S$ 1000000                 S$ 500,000 certain           The Singapore Road Traffic Act requires
                        Compensation Act for most manual             limit is typically S$                                                        professional associations    unlimited BI cover. The market standard for PD
                        workers and office staff earning less than   10,000,000                                                                   require members to carry     is S$ 5,000,000 for cars
                        S$ 1,600 per month                                                                                                        higher limits

Slovak Republic         State Monopoly since 4/1/02 under Social     not required                 not required         SKK 20,000,000             minimum limit SKK            Auto Liability> From 1/2/02 minimum
                        Insurance Institute. No certification                                                                                     5,000,000 Certain            compulsory limits are SKK 5,000,000 for PD
                        required                                                                                                                  professions have             and SKK 19,000,000 for BI. These limits can be
                                                                                                                                                  compulsory requirements.     increased to SKK 60,000,000 for 20%
                                                                                                                                                  Where these exist we will    additional premium. The SKK 60m. is our
                                                                                                                                                  take the lower statutory     minimum requirement except for vehicles that
                                                                                                                                                  limit subject to a minimum   travel outside Slovakia where SKK 100m. ir
                                                                                                                                                  of SKK 1,000,000 (about      required. The EU 4th Directive came into force
                                                                                                                                                  US$30,000).                  on 1/15/05 and the above limits are said to
                                                                                                                                                                               comply. The 5th Directive, when enacted, will
                                                                                                                                                                               require higher limits. (NB benefits for Pain &
                                                                                                                                                                               Suffering are capped at about US$100,000
                                                                                                                                                                               under Amendment 437/2004 to Act 381/2001).




                                                                                                       Page 16 of 20                                                                  d68b9ade-08ed-4ea5-bf51-4d74e8a20c57.xls
                                                                                                        Personal Accident                                                                Auto Liability (BI = Third Party Bodily Injury,
            Country                Workers Compensation (WC)              Employers Liability (EL)             (PA)         General Third Party Liability      Professional Liability        PD + Third Party Property Damage)
Slovenia                     State controlled through Social Security    Required unless very           Minimum Death       Euro 1,000,000                  Compulsory for many
                             system. No certification required.          specifically nor excluded by Benefit of 3 x Annual                                 professions but often with
                                                                         GL policy (increasingly rare). Salary                                              low limits. Coverage may
                                                                         Policy mainly covers                                                               be provided by a
                                                                         difference between actual                                                          professional association
                                                                         earnings ans social security                                                       but "top-up" cover is
                                                                         benefits but also pays for                                                         available. Our minimum
                                                                         pain & suffering.                                                                  limit is Euro 200,000
                                                                                                                                                            unless statutory limit is
                                                                                                                                                            higher.


Solomon Islands              no information currently available                                                            100,000                          25,000
Somalia                      no information currently available                                                            100,000                          50,000
South Africa                 State Scheme - Compensation for           to be added to GL policy      not required          SAR 5,000,000                    SAR 1,000,000 (may be        Unlimited BI under Compulsory Motor Vehicle
                             Occupational Illnesses and Diseases Act #                                                                                      offered by a professional    Insurance Act # 56 of 1972 and Road Traffic
                             131 of 1993 (COIDA). No certification                                                                                          association)                 Act # 29 of 1989 (as amended). Standard
                             required                                                                                                                                                    voluntary PD cover of SAR 2,500,000 is
                                                                                                                                                                                         acceptable
Spain                        Nationalized under Social Security Law of   to be added to GL policy    not required          Euro 1,000,000                   Euro 500,000 (often done     Compulsory limits under EU 4th directive are
                             1963. No certification required             (seguro patronal)                                                                  via a professional           acceptable, no certification required. 5th
                                                                                                                                                            association                  directive with higher limits pending - will be
                                                                                                                                                                                         Euro1m. BI Euro 500k PD
Sri Lanka                    The Workers Compensation Amendment not required                         Minimum Death         100,000                          25,000                       Motor Traffice Act of 1951 requires unlimited BI
                             Act of 1990 extended employers legal                                    Benefit 3 x Annual                                                                  coverage. PD is not compulsory but insurers
                             liabilities but did not make the insurance                              Salary                                                                              routinely give cover on an unlimited basis
                             compulsory. Limits are low. Certification of
                             insurance is required


St. Lucia                    Social Security benefits under the St. Lucia Minimum limits XCD         not required          Minimum limit XCD 500,000        US$25,000. Coverage is       Compulsory under the Motor Vehicles
                             National Insurance Corporation Act of        1,000,000                                                                         generally placed offshore    Insurance (Third Party Risks) Act #24 of 1988.
                             2000, the Employees (Occupational Health                                                                                       at Lloyds                    Limits are XCD 300,000 per person, XCD
                             & Safety) Act of 1985, the Industrial and                                                                                                                   1,500,000 per event BI, XCD 200,000 per
                             Commercial Buildings (Fire Safety Act) of                                                                                                                   claim, XCD 500,000 per event PD
                             1973, the Factories Ordinance Chapter
                             106 and the Steam Boilers Ordinance
                             Chapter 187. No certification required


St. Vincent & the Grenadines Social Security benefits under the National Minimum limits XCD          not required          Minimum limit XCD 500,000        US$25,000. Coverage is       Compulsory under the Motor Vehicles
                             Insurance Act #33 of 1986 and the           1,000,000                                                                          generally placed offshore    Insurance (Third Party Risks) Act of 1947.
                             Factories Act of 1990. No certification                                                                                        at Lloyds                    Limits are XCD 10,000 per person, XCD
                             required                                                                                                                                                    100,000 per event BI. PD is not compulsory
                                                                                                                                                                                         under this Act. A new Act, the Motor Vehicles
                                                                                                                                                                                         Insurance (Third Party Risks) Act #4 of 2003
                                                                                                                                                                                         increased the BI to XCD 250,000 per persom
                                                                                                                                                                                         and XCD 1,000,000 per event and includes PD
                                                                                                                                                                                         with limits of XCD 250,000 per "item" and XCD
                                                                                                                                                                                         500,000 per event. As of 6/05 this legislation
                                                                                                                                                                                         has not been enacted, however we require the
                                                                                                                                                                                         new limits as a minimum




                                                                                                           Page 17 of 20                                                                        d68b9ade-08ed-4ea5-bf51-4d74e8a20c57.xls
                                                                                                Personal Accident                                                            Auto Liability (BI = Third Party Bodily Injury,
             Country         Workers Compensation (WC)             Employers Liability (EL)            (PA)       General Third Party Liability Professional Liability             PD + Third Party Property Damage)
Sudan                  The National Social Insurance Fund (NSIF) included in the WC            not required       100,000                      10,000                        The Road Traffic Act #5 of 1962 was amended
                       is administers benefits payable under the coverage in Sudan                                                                                           in 1993 to take Sharia into account. The Act
                       Social Insurance Act of 1990. This only                                                                                                               limit for BI is SDD 2,000,000. Per person. PD is
                       applies if a worker is disabled by more                                                                                                               unlimited. The BI limit (called Deya) is awarded
                       than 15% (or is killed). For other injuries                                                                                                           in almost all cases as it is so low.
                       Workers Compensation is compulsory
                       under the Work Injuries Compensation Act
                       of 1981 but enforcement has been limited.



Suriname               Statutory under Law of 1947 (amended in      not required               Minimum Death        100,000                    25,000                        Motor Third Party (WAM) Act of 1981 amended
                       1950, 1975, 1983 and 2001). Certification                               Benefit 3 x Annual                                                            in 2001 provides statutory limits of
                       required                                                                Salary                                                                        SRG7,000,000 for BI and PD. Excess limits to
                                                                                                                                                                             US$10,000 PD/BI required
Swaziland              No information currently available but                                                       500,000                    200,000
                       South African limits would not be
                       unreasonable.
Sweden                 State social security benefits often         not required               not required         SEK 10,000,000             SEK 5,000,000 individual      The Motor Traffic Damage Act of 1975 imposes
                       supplemented by collective agreements                                                                                   industry practice may be      obligatory BI/PD for limits as announced.
                       under TFA (trygghetsforsakrimg vid                                                                                      higher                        Currently this is SEK 300,000,000 but is
                       arbetsskada) which is provided by                                                                                                                     expected to be aligned with the EU 5th
                       specialized insurers. No certification                                                                                                                Directive in due course
                       required


Switzerland            Compulsory under Federal Law on               not required              not required         CHF 4,000,000              CHF 1,000,000                 Statutory limits closely follow EU Directives.
                       Accident Insurance (UVG), introduced on                                                                                                               Current minimum PD/BI is CHF 5,000,000 for
                       1/1/84. May be placed with semi-state                                                                                                                 cars but most people carry CHF 100,000,000.
                       owned SUVA (which has a monopoly for                                                                                                                  We require a minimum of CHF 20,000,000
                       civil servants and certain other categories),
                       or via private insurers. Certification
                       required
Syria                  State scheme. No certification required      not available              Minimum Death        SYP 50,000,000             US$ 25,000 may be              Technically legal liability is unlimited but the
                                                                                               Benefit 5 x Annual                              difficult to obtain other than state insurer usually offers SYP 300,000 each
                                                                                               Salary                                          for engineers                  for BI and PD. We require limits of SYP
                                                                                                                                                                              1,500,000 BI and SYP 1,000,000 PD
Taiwan (R.O.C.)        State scheme under the Labor Insurance       Minimum limits TWD         not required         500,000                    50,000                        Compulsory for BI with limit of TWD 1,400,000
                       Act of 1958 as amended in 1995. No           5,000,000                                                                                                per person, unlimited per accident PD is not
                       certification required                                                                                                                                compulsory. We require TWD 5,000,000 each
                                                                                                                                                                             for BI and PD.
Tajikistan             no information currently available                                                           100,000                    25,000                        The compulsory coverage is for extremely low
                                                                                                                                                                             limits (US$ 400). We should look for a minimum
                                                                                                                                                                             of US$15,000 PD/BI combined.
Tanzania               Introduced by the Workmens                   to be added to WC policy   Minimum Death         TZS 1,000,000,000         TZS 50,000,000                Compulsory under the Vehicles Insurance
                       Compensation Ordinance, 1948 as                                         Benefit equal to 41 x                                                         (Third Party Riskd Ordinance 1945
                       amended and updated by other Statutes                                   Monthly Salary                                                                (Tanganyika) and Motor Vehicles (Third Party
                       (Zanzibar has similar legislation). Limits                                                                                                            Risks) Decree 1953 (Zanzibar). BI is unlimited,
                       are extremely low so PA is mandatory.                                                                                                                 PD is not compulsory. We require PD cover of
                       Certification is required.                                                                                                                            US$ 25,000.


Thailand               The Workmens Compensation Act of 1994 Minimum limit of US$50,000 not required                500,000                    US$100,000, unless in the Statutory limits under Protection of Motor
                       amended in 2002 moved coverage to the                                                                                   medical field where       Accident Victims Act of 1992 are very low. We
                       State. No certification required                                                                                        minimum is US$250,000     require minimum limits of $25,000 per person,
                                                                                                                                                                         $250,000 per accident for BI and $50,000 PD


The Gambia             no information currently available                                                           250,000                    100,000
Timor Leste            No information currently available                                                           100,000                    25,000




                                                                                                    Page 18 of 20                                                                    d68b9ade-08ed-4ea5-bf51-4d74e8a20c57.xls
                                                                                                       Personal Accident                                                             Auto Liability (BI = Third Party Bodily Injury,
          Country                 Workers Compensation (WC)              Employers Liability (EL)             (PA)       General Third Party Liability Professional Liability              PD + Third Party Property Damage)
Togo                        State scheme under the Caisse Nationale not required                      not required       Written as Responsabilite    50,000                         Compulsory under the CIMA code. Liability for
                            de Securite Sociale. No certification                                                        Civile du Chef d'Entreprise.                                BI is theoretically unlimited but Arts 258 - 266 of
                            required. (previously Office Beninoise de                                                    Minimum limit CFA                                           the Code include a table of compensation rates.
                            Securite Sociale). No certification required                                                 1,000,000,000

Tonga                       no information currently available                                                              100,000                   25,000
Trinidad & Tobago           The National Insurance Board, established to be added to the WC           not required          TTD 2,500,000             TTD 1,000,000 unless           Statutory under Motor Vehicle Insurance (Third
                            in 1971, only provides limited benefits and policy.                                                                       statutory limits higher        Party Risks) Act of 1998. Limits are TTD
                            WC cover is complementary under the                                                                                                                      1,000,000 per person, TTD 2,000,000per
                            Workers Compensation Act of 1960.                                                                                                                        sccident for BI and TTD 1,000,000 PD.
                            Certain benefits were amended under the
                            National Insurance Act of 2004.
                            Certification required.


Tunisia                     State Scheme - CNSS. No certification         not required                Minimum Death         500,000                   50,000                         Statutory is currently unlimited for PD/BI but
                            required                                                                  Benefit 3 x Annual                                                             pending legislation may change this
                                                                                                      Salary
Turkey                      State Scheme under Law 4772 of 1946           Minimum limit of US$50,000 not required           US$250,000                US$100,000 (contracts          Statutory Auto Liability as required by the Road
                            amended by Law 506 of 1964 (SSK). No          per person, US$150,000 per                                                  under US$10,000,               Traffic Act, 1983. The amounts have historically
                            certification required                        accident                                                                    minimum limit US$20,000        been amended periodically in line with inflation.
                                                                                                                                                                                     We requirethat the statutory coverage be
                                                                                                                                                                                     increased to a minimum of US$25,000 PD/BI
                                                                                                                                                                                     on a facultative basis


Turkmenistan                not available                                 not available               Minimum Death         100,000                   US$ 25,000 minimum but         Compulsory but limits are extremely low. We
                                                                                                      Benefit 3 x Annual                              might be difficult to obtain   require a minimum of US$ 25,000 PD/BI
                                                                                                      Salary                                          without outside                combined.
                                                                                                                                                      reinsurance support
Turks & Caicos Islands      State scheme under National Insurance         US$250,000                  Not required          US$1,000,000              US$100,000. Generally          Compulsory under the Motor Vehicle (Third
                            Ordinance and regulations, 1992. No                                                                                       placed offshore                Party) Insurance Ordinance, 1991. Limits are
                            certification required.                                                                                                                                  US$500,000 BI, US$10,000 PD. We require a
                                                                                                                                                                                     minimum of US$50,000 PD.
Uganda                      Statutory under Workers Compensation          not required                not required          50,000                    25,000                         Statutory Vehicle Insurance (Third Party Risks)
                            Act No 8 of 2000. Certification required                                                                                                                 Statute of 1988 has inadequate limits. We
                                                                                                                                                                                     require a minimum of US$20,000 PD/BI

Ukraine                     The Fund for Social Insurance for             not required                Minimum Death         250,000                   50,000                         Compulsory cover for BI introduced in 1997 and
                            Accidents at Work and Occupational                                        Benefit 3 x Annual                                                             for PD in 2000 but not effective until 1/1/05.
                            Diseases started operation in 2001 as a                                   Salary                                                                         Limits are HRY 51,000 BI and HRY 25,000 PD.
                            state scheme. No certification required                                                                                                                  We require a minimum of US$ 25,000 PD/BI
                                                                                                                                                                                     combined.
United Arab Emirates        Strict liability under Federal Law No 12 of   to be added to GL policy    not required          250,000                   100,000                        Compulsory. BI is unlimited, PD is AED
                            1986. Certification required                                                                                                                             250,000. Limits acceptable, certification
                                                                                                                                                                                     required
United Kingdom              State scheme governed by the Social           The Employers Liability     not required          GBP 1,000,000             GBP 1,000,000. Coverage        The Road Traffic Act of 1972 (amended 1989)
                            Security and Benefits Act of 1992. No         (Compulsory Insurance) Act                                                  is often provided on a         requires unlimited BI. The Motor Vehicles
                            certification required                        of 1969 as amended in 1999                                                  group basis by                 (Compulsory Insurance) Regulations of 1987
                                                                          imposes minimum limits of                                                   professional associations      imposes a statutory minimum PD limit of GBP
                                                                          GBP5,000,000. Certification                                                                                250,000 although most insurers commonly offer
                                                                          required                                                                                                   much higher limits. No certification required


USA (excludes Guam,         Statutory Limits. Certification required                          500,000 not required          5,000,000                 1,000,000                      $ 1,000,000 BI/PD combined
Puerto Rico, Saipan & US
Virgin Islands). SERVICES
USA (excludes Guam,         Statutory Limits. Certification required                          500,000 not required          2,000,000                 not required                   US$ 500,000 BI/PD combined
Puerto Rico & US Virgin
Islands). GOODS




                                                                                                            Page 19 of 20                                                                    d68b9ade-08ed-4ea5-bf51-4d74e8a20c57.xls
                                                                                                     Personal Accident                                                        Auto Liability (BI = Third Party Bodily Injury,
           Country               Workers Compensation (WC)               Employers Liability (EL)           (PA)       General Third Party Liability Professional Liability        PD + Third Party Property Damage)
Uruguay                    Compulsory under Law 16074 of 1989.          not required                Minimum Death      500,000                      100,000                   Not compulsory, we require a minimum of
                           Statutory Limits. Certification required                                 Benefit 3 x Annual                                                        $50,000 BI/PD combined
                                                                                                    Salary
                                                                                                    (recommended).
Uzbekistan                 Theoretically covered by Social Security.    not required                Minimum Death         25,000                    10,000                    Compulsory by Law 122 of 1995 but limits are
                           No certification required                                                Benefit 3 x Annual                                                        extremely low. We require a minimum of US$
                                                                                                    Salary                                                                    50,000 PD/BI
Vanuatu                    no other information currently available                                                       50,000                    25,000

Venezuela                  Basically provided by Social Security but    to be added to GL policy    not required          100,000                   US$ 25,000. Outside       Obligatory but limits severely reduced by
                           certain regions/types of employment have                                                                                 reinsurance probably      inflation even though they are denominated in
                           private sector protection under Seguro de                                                                                required                  Unidades Tributarias (tax units). We require
                           Responsabilidad Patronal (RP). We                                                                                                                  minimum limits of US$ 25,000 PD/BI combined.
                           require certification of RP cover or
                           confirmation that it is not applicable


Vietnam                                                      1,000,000 not required                 Minimum Death         50,000                    25,000                    PD/BI 25.000
                                                                                                    Benefit 3 x Annual
                                                                                                    Salary
Virgin Islands (British)   State scheme for Social Security under Act                     1,000,000 not required          1,000,000                 500,000                   The Motor Vehicle Insurance (Third Party
                           #17 of the Legislative Council, 1979. No                                                                                                           Risks) Ordinance of 1961 as amended in 2000
                           certification required.                                                                                                                            requires US$ 25,000 per person, US$ 75,000
                                                                                                                                                                              per accident for BI and US$ 30,000 for PD. We
                                                                                                                                                                              require a minimum of US$ 100,000 BI and US$
                                                                                                                                                                              50,000 PD.
Virgin Islands (US)        Compulsory under Title 24 of the Virgin      Not required                Minimum Death         US$1,000,000              250,000 (may be placed    Compulsory under Title 20 of The Virgin Islands
                           Islands Code, Chapter 254 onwards. This                                  Benefit 3 x Annual                              via professional          Code, Chapter 47. Limits are US$ 10,000 per
                           is managed by a state fund (which is said                                Salary                                          associations).            person, US$ 20,000 per accident BI and US$
                           to be underfunded). No certification                                     (recommended).                                                            10,000 PD. We require US$ 300,000 BI and
                           required.                                                                                                                                          US$ 100,000 PD.


West Bank-Gaza             State Fund, no certification required.       minimum limit US$500,000    not required          250,000                   50,000                    BI is unlimited by Statute. Minimum PD limit of
                           Administered by National Insurance                                                                                                                 NIS350,000
                           Institute of Israel under National Insurance
                           Law, 1995
Yemen                      The Civil Code (Art. 313) imposes a          to be added to GL policy    Minimum Death         100,000                   20,000                    BI limit as per Workers Comp. We require a
                           Statutory Limit for Death of one person at                               Benefit 3 x Annual                                                        minimum per event limit of US$25,000.
                           YMR560,000. We require certification of                                  Salary                                                                    Standard PD limit of YMR4,000,000 is
                           coverage with a minimum limit of                                                                                                                   acceptable
                           US$25,000 per event
Zambia                     State scheme under the Workers            Minimum limits of US$          not required          250,000                   100,000                   Compulsory under the Roads and Road Traffic
                           compensation Act # 10 of 1999 and         50,000                                                                                                   Act of 1995 but limits are extremely low. We
                           administered by the Workers                                                                                                                        require a minimum of US$ 25,000 PD/BI
                           Compensation Fund Board. No certification                                                                                                          combined.
                           required.
Zimbabwe                   The Accident Prevention and Workers'         Minimum limits ZWD          not required          250,000                   100,000                   1976 Zimbabwean Road Traffic Act as revised
                           Compensation Scheme, Statutory               100,000,000                                                                                           in 1996 requires "Act" cover with limits variable
                           Instrument 68 of 1990 , was gazetted in                                                                                                            by type of vehicle of ZWD 10m. - 20m. BI and
                           terms of the National Social Security                                                                                                              ZWD 250k. - 500k. PD. Third Party Liability for
                           Authority Act Number 12 of 1989 and                                                                                                                excess limits is issued separately. We require a
                           amended by Statutory Instrument 146 of                                                                                                             minimum of US$ 25,000 PD/BI
                           2004, the National Social Security Authority
                           (Accident Prevention and Workers'
                           Compensation Scheme) (Prescribed
                           Matters) Notice. State scheme, no
                           certification required.




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