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Notice on application of commercial auto-insurance clauses and rates in pilot reform areas
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Chinese
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Category：Legislative Updates
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Subject：Legal system ; Insurance
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Keywords：China Insurance Regulatory Commission; commercial auto-insurance; premium rate
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Source：Pkulaw
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Publish Date：05-13-2015
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The China Insurance Regulatory Commission (CIRC) issued on May 7 the Notice on Relevant Issues concerning the Application of Clauses and Rates of Commercial Auto-insurance in Pilot Reform areas. The Notice provides that by June 1, 2015, insurance companies in pilot areas shall complete the switching from the old auto insurance clauses to the new ones; the current commercial auto insurance clauses and rates used in the jurisdiction of the Heilongjiang and other five CIRC local offices shall be suspended, and new commercial auto insurance clauses and rates shall be drafted and submitted for approval in a timely manner.
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