China News Service, January 12. According to news from the website of the China Banking and Insurance Regulatory Commission on the 12th, the China Banking and Insurance Regulatory Commission issued the "Notice on Expanding the Floating Range of the Independent Pricing Coefficient of Commercial Automobile Insurance" (hereinafter referred to as the "Notice") to clarify the independent pricing coefficient of commercial auto insurance. The floating range of is expanded from [0.65, 1.35] to [0.5, 1.5].
The "Notice" requires the China Banking and Insurance Regulatory Bureau to steadily determine the implementation time of policies in the jurisdiction based on the situation of the auto insurance market in the jurisdiction and on the basis of soliciting opinions from relevant parties.
The "Notice" also requires the China Banking and Insurance Regulatory Bureau to strengthen territorial supervision, guide companies to reasonably set the average range of independent pricing coefficients and upper handling fee limits in each region, and continue to monitor the auto insurance market and retroactively supervise auto insurance rates to ensure the operation of the auto insurance market Smooth and orderly.
At the same time, all companies are required to strictly implement various regulatory requirements for auto insurance, do a good job in the filing of terms and rates, actively undertake social responsibilities, optimize and guarantee the supply of auto insurance products, improve the service level of auto insurance underwriting and settlement, and enhance the sense of gain of auto insurance consumers.
The "Notice" requires the Insurance Industry Association of China, the China Association of Actuaries and China Banking Insurance Corporation to cooperate in deepening the reform of auto insurance in accordance with their own responsibilities.
(China New Finance and Economics)