China Insurance Regulatory Commission (CIRC), the top Chinese insurance regulator, recently released the revised rules on the management of information disclosing of new-type personal insurance products.

Both legal person and chief actuary of an insurance company should be sure that instructions of their new-type personal insurance products are impersonal and factual and do not lack key items. Other information disclosing documents of the products should be in accordance with the instructions. All the documents should be managed by the insurance company and both its branches and agents are banned to use information disclosing documents that go against with insurance items and the instructions.

Take new-type investment-linked insurance products as an example, insurance companies should highlight that consumers of such products have the right to transfer premium into investment accounts during the hesitation period in the instructions and policy.

The revised rules are going to take effect from October 1, 2009.