Reg­u­la­tor ends sale of smog-re­lated in­sur­ance

China Daily (Canada) - - NEWSCAPSULE -

China’s two big­gest in­sur­ers have been told to stop sell­ing smog-re­lated in­sur­ance a week af­ter they of­fered it.

The China In­sur­ance Reg­u­la­tory Com­mis­sion called for an end to the haze-re­lated prod­ucts of PICC Property and Ca­su­alty Co Ltd. They started sell­ing the po­lices on March 17. A day later, Ping An In­sur­ance (Group) Co of China Ltd an­nounced sim­i­lar prod­ucts, cov­er­ing seven cities, in­clud­ing Bei­jing, Shang­hai and Guangzhou. The pre­mium for PICC’s prod­ucts ranged from 78 yuan ($12) to 154 yuan, with an in­sur­ance pe­riod of a year.

Ping An In­sur­ance part­nered with In­ter­na­tional Ltd, China’s largest on­line travel agency, to sell its air qual­ity-re­lated prod­ucts to vis­i­tors and res­i­dents of those cities. (Photo 5)

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