News Asia28 Jun 2016

China:Shanghai allows insurers more leeway to set auto premiums

28 Jun 2016

Shanghai will allow insurance companies greater freedom to set commercial motor insurance rates for clients with effect from Thursday as the insurance regulator rolls out market reforms on car insurance pricing. Under the new rules, policyholders will be able to obtain a discount on their premiums of as much as 61% off the standard rate while currently, insurers are allowed to offer as much as 30% off the standard.

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