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Vehicle insurance reform imperative in China

BEIJING – Vehicle insurance reform is imperative in China, said Wang He, executive vice president of PICC Property and Casualty Co., Ltd., at 2015 China Vehicle Insurance Forum hosted by Tsinghua University School of Economics and Management (Tsinghua SEM) on May 12. “Vehicle insurance has become a daily necessity in

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Tokio Marine to sell compulsory auto liability insurance in China

SHANGHAI – China’s insurance watchdog, China Insurance Regulatory Commission (CIRC), has recently authorized Tokio Marine & Nichido Fire Insurance Company (China) Ltd. (TMNF China) to sell compulsory auto liability insurance, according to a TMNF China press release. Established in September 1994, with a registered capital of ¥400 million ($66.7 million),

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CIRC encourages automakers to establish insurance agencies

  BEIJING – The Notice on Encouragement of Specialized Operation of Automobile Company Commissioned Insurance Business (the Notice) released by China Insurance Regulatory Commission (CIRC) on September 24 indicated that automobile companies (including manufacturers and dealers) are encouraged to establish insurance agencies and brokers or initiate cooperation with existing ones

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