Advertise
Resources
Member, Beacon International Group, Ltd.
China's insurance regulator has issued draft guidelines for trials on offering insurance coverage for expensive technical equipment, reported Asia Insurance Review.
Co-insurance scheme members must have a minimum combined registered capital of 20 billion Chinese yuan ($3.19 billion), the draft said.
It also states that each member must have a solvency ratio of at least 150% for the past three years.
An insurer that wants to be the only underwriter of such equipment must have a minimum registered capital of CNY 50 billion ($7.98 billion), said the guidelines.