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China: CIRC orders insurers and intermediaries to conduct detailed self-examinations

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The China Insurance Regulatory Commission has issued an emergency notice seeking a thorough self-examination and rectification by insurers and insurance intermediaries in a move aimed at identifying major risks, reports

The regulator has asked insurers and intermediaries to ensure a detailed examination and present their findings by Aug. 8. It is planning strict action against those found to be non-compliant or involved in any fraud.

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