Chinese Regulators Ease Rules on Air-accident Insurance

December 31, 2002

According to a report from the China Securities Journal, Chinese insurance companies will be given greater leeway in setting premium rates and policy conditions for air-accident coverage beginning January 1.

The China Insurance Regulatory Commission (CIRC) has issued new rules governing the coverage, giving companies greater flexibility to deviate from its standard requirements. An earlier decision had allowed P/C insurers to offer air travel policies, which had previously been restricted to life insurance companies.

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