State supervision

 

Meaning of the word: State supervision

State supervision controls the interest of consumer protection. It is a public authority which is controlling, if the insurance institutions are able to fulfil their obligations towards customers. State supervision is in the Czech Republic maintained by the Audit Office and it controls the functioning of insurance companies.

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Commission

The Commission is a reward for the agreed deal, which is agreed on the basis of the agreement. For example, in the insurance industry may earn…

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