News eDaily24 Apr 2017

China:Insurance requirements imposed on bike sharing operations

24 Apr 2017

More municipal authorities in China are regulating the growing bike-sharing industry, with Beijing the fifth metropolis to lay out concrete requirements in the area, including insurance, following in the footsteps of Shenzhen, Chengdu, Shanghai and Nanjing.

Along with the growth of the bike sharing market, there has also been an increased number of traffic accidents involving bicycles.

Dealing with the issue, authorities in the national capital, Beijing, are placing an emphasis on strengthening the insurance claims mechanism for customers and quality inspection for shared bicycles in service, reported china.org.cn. Its draft guidelines also recommend and encourage companies to purchase personal accident insurance and third party liability insurance for their clients. Active assistance should also be provided by enterprises when their users lodge insurance claims.

In Chengdu, the capital of southwest China's Sichuan Province, city officials are also urging insurance purchases. The authorities in Shenzhen and Nanjing are imposing insurance requirements as well.


 

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