Opinions of the China Insurance Regulatory Commission on Further Reforming the Administrative System for Commercial Auto Insurance Clauses and Premium Rates
Opinions of the China Insurance Regulatory Commission on Further Reforming the Administrative System for Commercial Auto Insurance Clauses and Premium Rates
Opinions of the China Insurance Regulatory Commission on Further Reforming the Administrative System for Commercial Auto Insurance Clauses and Premium Rates
Bao Jian Fa[2015] No. 18
February 3, 2015
All insurance regulatory bureaus, all property insurance companies and the Insurance Association of China,
In order to further protect the legitimate rights and interests of policy holders and insurants, maintain the normal order of the property insurance market, and promote the sustained and healthy development of the property insurance market, the following opinions are hereby put forward in respect of further reforming the administrative system for commercial auto insurance clauses and premium rates.
I. Guiding thoughts, basic principles and main objectives
1. Guiding thoughts.
Efforts shall be made to thoroughly apply the guiding principles of the Third Plenary Session of the Eighteenth Central Committee of the CPC, diligently implement the Several Opinions of the State Council on Accelerating the Development of the Modern Insurance Service Industry, strive to create a market environment with fair competition and survival of the fittest and better play the decisive role of the market in allocating resources; guide property insurance companies to improve their awareness of independent operation, and enhance the property insurance industry's capacity for sustainable development; speed up the transformation of governmental functions, and better play the role of the government; and intensify efforts to streamline administration and delegate more power to lower levels, strengthen interim and ex-post regulation, and keep improving property insurance regulation in a more scientific and modern way.
2. Basic principles.
(1) Adhering to market orientation. Efforts shall be made to build a commercial auto insurance market system that is subject to unified opening, orderly competition and powerful regulation, set up a market-oriented mechanism for setting commercial auto insurance clauses and premium rates, stipulate property insurance companies' vitality and driving force for development and innovation, guide property insurance companies to conduct all-round, multilevel and diversified market competition in such aspects as brand, management, channel, price and service of commercial auto insurance, and improve the property insurance industry's capacity for accurately assessing the risks of subject matter, effectively managing and controlling operation cost and keeping improving service quality.
(2) Protecting the legitimate rights and interests of insurance consumers.
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