The insurance and reinsurance industry is governed by an insurance law issued in February 1992 that allows foreign ownership of insurance companies. The industry is regulated by the Ministry of Finance as well as the Insurance Council of Indonesia. The growth of the industry over the past decade is reflected in an impressive increase in many of the industry's financial variables, including assets, gross premiums, and investments. third-party motor liability insurance, workers' compensation, and passenger accident insurance are compulsory. Workers' compensation must be insured with the Government company, ASTEK. Employees also have no right to sue. A 1998 Financial Services Agreement with the WTO equalized capital requirements for both domestic and foreign insurance firms.