Date
19 August 2017

Rules laid out for insurers eyeing self-insurance, Xinhua says

The China Insurance Regulatory Commission (CIRC) has announced the eligibility requirements for insurers that seek to set up and manage self-insurance units, Xinhua news agency reported Wednesday. Under new rules, insurers can apply to set up self-insurance entities to cover potential liabilities in property insurance, short-term health insurance and accident coverage of group units. To qualify for such self-insurance, an insurer must have assets of at least 100 billion yuan (US$16.45 billion) and sound risk management capabilities, the report said.

– Contact HKEJ at [email protected]

EL/AC/RC

 

    EJI Weekly Newsletter

    Please click here to unsubscribe