China Insurance Regulatory Commission for the type of investment product sales to establish the threshold of solvency
Property Insurance Company of China Insurance Regulatory Commission to monitor the "big stick" is a fall. Reporters learned yesterday from the insurance company, the China Insurance Regulatory Commission has given Insurance companies selling investment products to set up the solvency, profitability targets and a series of thresholds, not satisfied with the conditions of the Insurance Company will not be eligible for the sale of such products; At the same time, OCI Insurance companies will also require a comprehensive inventory of "problem" of products.
Sales of products linked to the solvency
Insurance companies to launch investment-type products "crazy sales" as the degree of risk even to vote. But the stock market to adjust the depth of the Insurance companies also face the problem Fukui income products. Against potential risks, the China Insurance Regulatory Commission has directed bursts of a supervision order, in addition to requirements for next year's Insurance investment products extracted reserve, sales returned to the qualifications set up a strict threshold.
It is understood that only a quarter to four in a row to achieve solvency for more than 150%, 3 years in a row overall profit for the Insurance companies are able to sales of investment products. In addition, the China Insurance Regulatory Commission also requested one-year product fee expenditure should not exceed 0.8 percent, and the industry in general is currently 1.2 percent. "As the solvency indicators is a dynamic change, companies in general to the annual assessment for the solvency, it is necessary to meet the solvency of the four consecutive quarter of 150%, is already a very high threshold." An insurance company who said.
Insurance companies Prior to the introduction of investment-type products, general household property insurance or personal accident insurance products in the form of an average of 4.5% to 5% of the fixed rate of return. Insurance companies in a number of such products on the issue size has exceeded tens of billions to a maximum of more than 30,000,000,000. Insurance solvency for the weaker companies, products and Fukui's future payments can be allowed to peak into Licha Sun's plight.
Insurance companies issue a comprehensive inventory of products
In addition to the Insurance companies to invest in product-enact the rules and regulations, the CIRC also required insurance companies are used to conduct a comprehensive inventory of insurance products. If the existence of "terms of the rate-free" and so on should stop using the product.
According to the requirements of the China Insurance Regulatory Commission, Insurance company's products if there is against the interests of consumers, the principle of being fair; "provisions, non-rate", but the rate or rates are no longer adapt to the realities of the market , Insurance companies must continue to be used to stop. China Insurance Regulatory Commission also said it would increase the authorization to amend the scope of liability insurance, the premium rate of acts of inspection and punishment, and called for the Insurance Company in December 31, 2008 to complete the rectification work of the clean-up, and the revised insurance Product re-reported the China Insurance Regulatory Commission for the record.
"Although the China Insurance Regulatory Commission failed to set out for the type of Insurance companies, however, the risk of large-scale commercial projects in non-standard insurance products in serious condition." Huatai Insurance who said. The pursuit of scale, competition for domestic insurance companies underwriting the project, desperately "to the bottom" phenomenon not uncommon. The above-mentioned insurance companies have said that this year there have been a disaster, let Insurance industry into a comprehensive loss of embarrassment. "We also hope that the risk of large-scale commercial projects to increase rates, the rates have reached bottom, after all, there is no room for the price."
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