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Regulatory Body Invites Public Feedback on 'Integrated Reporting and Implementation' of Non-Vehicle Insurance, Discouraging Sole Focus on Scale and Market Share
4 day ago /
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Author：小编
The State Administration of Financial Regulation has recently released the "Notice on Strengthening Supervision of Non-Vehicle Insurance-Related Matters (Draft for Public Consultation)" aimed at property insurance companies. This notice delineates the scope of non-vehicle insurance operations and outlines four core directives for property insurance entities engaged in such businesses: discouraging the blind pursuit of scale and market share, mandating reasonable rate setting, strictly adhering to filed terms and rates, and establishing a rate review and adjustment mechanism. Additionally, property insurance institutions are instructed to enhance their oversight of insurance intermediaries to guarantee compliance within the industry.
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