非车险“报行合一”新规11月起实施

Core Viewpoint - The National Financial Regulatory Administration has issued a notice to strengthen the regulation of non-auto insurance business, requiring property insurance companies to optimize their assessment mechanisms and ensure compliance with approved insurance products and rates, effective from November 1, 2025 [1][4]. Group 1: Regulatory Changes - The notice mandates that the actual insurance terms and rates executed by insurance companies must align with the materials submitted to regulatory authorities, extending the "reporting and execution consistency" regulation to non-auto insurance [1]. - Non-auto insurance, as defined in the notice, refers to all property insurance business excluding motor vehicle insurance, with specific provisions for agricultural insurance and export credit insurance [1]. Group 2: Industry Trends - Non-auto insurance has been expanding, with its share of total property insurance premiums rising from 37.1% in 2019 to 47.4% in 2024, contributing nearly half of the total property insurance premium scale [2]. - The industry is facing significant underwriting losses, attributed to deviations from the law of large numbers in insurance pricing, as highlighted by the president of PICC Property and Casualty [2]. Group 3: Fee Management and Compliance - The notice specifies that property insurance companies must not set high fees that do not correspond to the services provided and must establish a mechanism for periodic review and dynamic adjustment of rates [3]. - Insurance companies and intermediaries are prohibited from altering approved insurance terms and rates through various means, including special agreements or modifications to policy details [3]. - The notice emphasizes that intermediaries must align their fees with the value of services provided and accurately account for all income and expenses, prohibiting off-the-books operations [3]. Group 4: Enforcement and Implementation - The notice outlines that regulatory bodies will take measures against companies that fail to comply with the approved terms and rates, including administrative penalties [4]. - The regulatory authority will guide local agencies and property insurance companies to ensure the effective implementation of these new regulations, aiming for high-quality development in the non-auto insurance sector [4].