Core Viewpoint - The Financial Regulatory Bureau has issued a draft notice aimed at strengthening the regulation of non-auto insurance, addressing long-standing issues in the industry and promoting cost reduction and efficiency improvement [1][2]. Group 1: Regulatory Changes - The draft notice emphasizes the implementation of a "report and practice unified" system for non-auto insurance, requiring that the actual insurance terms and rates executed by insurance companies must align with the submitted regulatory materials [2][3]. - This regulatory approach aims to eliminate short-sighted practices such as price wars and improper fee collection methods, encouraging companies to focus on reasonable pricing, quality service, and sound operations [2][3]. Group 2: Premium Collection Risks - The issue of accounts receivable risk has been a significant challenge for non-auto insurance, with some companies managing premium collection too loosely, leading to high accounts receivable and potential financial instability [3]. - The draft mandates that insurance companies must issue policies and invoices only after collecting full or initial premiums, thereby improving cash flow and managing accounts receivable risks effectively [3]. Group 3: Cost Reduction and Efficiency - The push for cost reduction and efficiency is essential for the sustainable development of the property insurance industry, as the previous competitive model has led to rising comprehensive cost ratios and reduced profit margins [4]. - Implementing the "report and practice unified" system is expected to free up resources from unhealthy competition, allowing companies to enhance their pricing and underwriting capabilities, improve claims service levels, and strengthen market competitiveness [4]. Group 4: Impact on the Economy - Non-auto insurance has expanded its role across various sectors of the economy, providing crucial support for businesses in managing operational risks and stabilizing production [5]. - As the regulatory body continues to advance the "report and practice unified" system, non-auto insurance is anticipated to better fulfill its risk protection and resource allocation functions, serving as a solid foundation for the stable development of the real economy [5].
“报行合一”为非车险发展正本清源
Jin Rong Shi Bao·2025-08-08 08:01