News Regulations26 Jul 2019

China:Regulator orders 20 general insurers to fix 'flawed' policies

The China Banking and Insurance Regulatory Commission (CBIRC) has ordered 20 property and casualty insurers to curtail the sale of flawed polices and make amendments after it recently conducted an off-site inspection of the terms and rates of 1,500 policies that have been filed for regulation, reported Shanghai Daily. Among these insurers, 11 underwriters were also banned from filing new protection plans for three to six months.

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