Healthcare, Financials, Technology Oct 14, 2021 07:25 AM (GMT+8) · EqualOcean
The China Banking and Insurance Regulatory Commission recently issued the measures for the supervision of accident insurance business, which will standardize the accident insurance business of property and life insurance companies for the first time and will be implemented from January 1, 2022. According to the cbcirc, the measures adhere to the problem orientation, focus on prominent problems such as low loss ratio, abnormally high commission and non-standard sales behavior, dig deep into the root causes, manage them systematically, and comprehensively standardize the development of accident insurance business, covering product actuarial terms and rates, sales management, information disclosure, etc.