CIRC: Insurance companies must implement insurance policies and rates

The China Insurance Regulatory Commission required insurance companies to strictly implement the insurance clauses and rates. The next step will be to further improve and improve auto insurance services.

On February 22, according to the China Insurance Regulatory Commission website, in response to some hot issues in the current auto insurance market, the relevant person in charge of the China Insurance Regulatory Commission said on the 22nd that the CIRC examined and approved insurance products in accordance with the principle of protecting public interests and preventing unfair competition, and required the insurance companies to strictly implement the The insurance clauses and premium rates approved and filed by China Insurance Regulatory Commission shall be severely investigated and punished by law according to law for those who do not earnestly perform their insurance clauses and seriously damage the legitimate rights and interests of the insured.

The person in charge said that the insurance supervision committee will further improve and improve the auto insurance service. The first is to promote auto insurance product innovation, support and encourage property insurance companies to constantly innovate and enrich commercial automobile insurance products and services in accordance with market conditions, and continuously satisfy the people's various and multi-level insurance needs; second is to continuously improve the auto insurance claims service mechanism. The insurance company fulfilled its payment obligations according to law. The third is to guide the China Insurance Industry Association and insurance companies to further improve the “subrogation claims” standards and procedures for vehicle damage insurance, and to facilitate the settlement of claims by both parties through the simplification of procedures, documents, and the use of electronic technologies.