China stiffens its regulation
The regulatory authorities (CICR) have instituted standard criteria for the underwriting of personal accident insurance policies. These regulations have been set following abusive practices: arbitrary price fixing, false data, lack of control over distribution networks, false insurance policies, incomplete information systems. Henceforth, insurance agents will have to propose uniform policies and insurers will have to take the necessary steps to bring insurance policies closer to their management system.
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Thu, 17/02/2011 - 08:56
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