China issues rules to curb property insurance products risk

The China Insurance Regulatory Commission has said that it has issued new rules to curb the risks associated with property insurance products, The Business Times reports citing Reuters. Insurers cannot issue products to cover an investment risk that can make a profit as well as a loss, an event that leads to no real loss or where the event insured against will definitely occur, the guidelines said. The premiums paid for a product must be determined in line with the calculation of the actual risk and insurance liability, the guidelines added.

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