China Bans Dishonest Practices in Student Insurance Market

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Monday, August 14, 2000, updated at 18:25(GMT+8)

China

China Bans Dishonest Practices in Student Insurance Market

China Monday threatened to deliver severe punishments on insurance companies using administrative forces and other dishonest means to sell accident insurance policies to students.

The warning by the China Insurance Regulatory Commission (CIRC) comes at a time when students are returning to school after their summer vacation.

Student accident insurance is cheap and popular. But some insurance companies have been using administrative forces to expand their market share or even monopolize local markets.

CIRC reiterates that customers have free will to purchase any kind of insurance policies, including accident insurance for children.


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	China Monday threatened to deliver severe punishments on insurance companies using administrative forces and other dishonest means to sell accident insurance policies to students.




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