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23 July 2017

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CIRC introduces property rate guidelines

Laura Board 11 January 2017

The China Insurance Regulatory Commission (CIRC) has issued new guidelines on property insurance premiums designed to ensure rates are "reasonable, fair and adequate".

The CIRC said it wants to protect "the legitimate rights of the insurance consumer" while maintaining industry stability.

It noted that property insurance products currently on the market are "numerous and complicated", and that a lack of historical data creates the potential for pricing risk.

The guidelines are among a raft of proposals and directives recently issued...


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