Popular Searches: 　AIG 　china 　sunamerica+aig 　LIFE 　financial 　health
  • Share

Insurance Markup Has No Relationship with New Law

 

Thursday, Sep 17,2009, 7:57:14 PM   Click:

China's new insurance law will take effect from October 1, 2009 and it has nothing to do with markup of the nation's insurance products, Yang Huabo, a senior official with the China Insurance Regulatory Commission (CIRC) said in an interview on September 16.

The aim for the nation to release the law is to regulate insurers' business and protect consumers' interest. Lifting product price is a move insurers take by themselves and has no direct relationship with the release of the law. Both insurers and salespersons will be punished provided that they mislead consumers with new law-related words.

In order to meet revised items of the law, insurers in the country suspend sales of some products involving dreadful disease insurance, participating insurance, and universal life insurance and upgraded some others in succession. Premium of the upgraded ones will be higher as consumers could gain more security by then, said sources.

  • Share
  • Print

You may also be interested in:

Discuss this news

Click Here to see all comments
Please aware of self to obey the Internet related policy laws and strictly forbid to release porn, violence.
Appraisal:

Name:

Email:

Content:

Featured

Copyright: The Associated Press. All rights reserved. May This material may not be published, broadcast, rewritten or redistributed. Source: Associated Press Wordcount: L'AQUILA, Italy_Reviving The

Recovery a distant dream for the victims of

Copyright: The Associated Press. All rights reserved. May This material may not

China's premium income in the first nine months rose 8.1 per cent from a year earlier to 858.03 billion yuan (US$125.63 billion), according to Wu Dingfu, China Insurance Regulatory Commission

Premium income in China jumps 8% in first 9 months

China's premium income in the first nine months rose 8.1 per cent from a year

Humana is one of a number of private health plans that contracts with CMS to offer health care services and drug coverage to Medicare beneficiaries as part of the Medicare Advantage and Part D

Medicare Issues New Guidance To Insurance Companies On

Humana is one of a number of private health plans that contracts with CMS to

Joyce, Jackman Bell is working with the court to acquire the agency that is embroiled in a state investigation and civil lawsuits. We want the company because it would be new business for us, said

Joyce, Jackman and Bell offer to buy Murray Insurance

Joyce, Jackman Bell is working with the court to acquire the agency that is

Despite half of health plans in Michigan recording lower net profit in 2008 than the previous year, 10 of the largest overall profits rose an average 11.7 percent to $ 183.8 million from $ 164.6

Some of some of the largest HMO Manage To increase

Despite half of health plans in Michigan recording lower net profit in 2008

INDIANAPOLIS_The Indiana State Teachers Association and the National Education Association say they'll scrape up enough cash to pay 650 people receiving long-term disability benefits from the state

Ind. teachers union to cover disability claims

INDIANAPOLIS_The Indiana State Teachers Association and the National Education

Universal Insurance Holdings Inc. said its subsidiary, Universal Property and Casualty Insurance Co., received state regulatory approval for an average homeowners premium rate increase of about 14.6%

Universal P & C Insurance Agreed Florida owners to

Universal Insurance Holdings Inc. said its subsidiary, Universal Property and

MOST POPULAR