Facebook Twitter 新浪微博 google plus Instagram YouTube Tuesday 4 August 2015

China promotes commercial insurance service in military

(China Military Online)    13:26, August 04, 2015

BEIJING, August 3 (ChinaMil) -- The State Council and China's Central Military Commission (CMC) approved a document on instructing commercial insurance institutions to provide insurance services for the army a few days ago, making national-level institutional arrangements on the commercial insurance service in the military.

The promotion of commercial insurance services in the military is conducive to perfecting insurance services for the military units and military personnel and their family members, and is of great significance for relieving soldiers' worries behind, safeguarding soldiers' legal rights and interests, and facilitating the sustainable and healthy development of the insurance industry, a leading official of the Finance Department of the PLA General Logistics Department (GLD) told PLA Daily.

According to the document, insurance institutions are encouraged to, within the framework of national and military policies and systems, develop group insurance products targeting military units, property insurance products targeting military assets such as housing estates and vehicles, and diversified exclusive insurance products for military personnel and their families such as old-age insurance, health insurance, accident insurance, family property insurance, motor vehicle insurance, credit security insurance, and liability insurance.

Military units and servicepersons and their families will buy insurance on a voluntary basis.

Insurance institutions are suggested to conduct effective diversification of risks with the establishment of special risk database, and give proper preferential treatment to military units, military personnel and their families in their purchase of non-exclusive insurance products.

The document stressed that a liaison mechanism between insurance institutions and military units should be set up for the better and timely knowledge of the needs of military customers by the insurance institutions and making proper resolution of insurance disputes arising in the insurance services.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Editor:Zhang Qian,Bianji)

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