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International

Policy terms offered by Chinese insurers may differ from international market: Official

November 23, 2017 Reprints

Thomas Cheung, chief executive at Hong Kong-based insurance broker CTX Special Risks Ltd., said that marine insurance policy terms offered by Chinese insurers may differ significantly from the international market, Seatrade Maritime News reported. Mr. Cheung said that local insurers can afford to offer very low premiums as well as deductibles due to easy access to capital. The legal interpretation, policy conditions, and claims handling practices are some other concerns of Chinese insurance market.

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Policy terms offered by Chinese insurers may differ from international market: Official

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