Shanghai Launches Liability Insurance for AccountantsThe Shanghai Branch of the China Ping'an Insurance Company today signed a contract to provide liability insurance to nine accountancy firms in this metropolis in east China.This is the first time for China to conduct such a kind of insurance, an insurance company source said. Re-appearing in China at the beginning of the 1980s, accountancy firms have long faced huge risks of counterclaims. "Liability insurance will benefit both accountants and their clients," said Deng Xionghan, a local insurance supervision official. Shanghai has 83 accountancy firms. |
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