China's Insurance Watchdog Demands Prompt Payment of Claims to SARS Victims

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Last updated at: (Beijing Time) Friday, April 25, 2003

China's Insurance Watchdog Demands Prompt Payment of Claims to SARS Victims

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The China Insurance Regulatory Commission (CIRC) issued a circular Thursday informing insurance companies that beneficiaries may file claims for losses resulting from the Severe Acute Respiratory Syndrome (SARS).

Since SARS was a newly found disease, the clients were unable to include it on the list of contagious diseases when they signed the insurance contracts, said the circular.

The CIRC demanded that insurance companies take measures to provide prompt payment of claims to those who suffer SARS-related losses.

Commercial promotion in the name of SARS prevention is banned because it could mislead clients, said the insurance watchdog.

The CIRC also required insurance companies to reduce the number of sales personnel meetings to prevent the further spread of the illness.

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