Core Viewpoint - The implementation of the "reporting and execution in unison" policy for non-auto insurance will take effect on November 1, aiming to align actual premium rates with filed content and eliminate irrational competition in the industry [1][2]. Group 1: Regulatory Changes - The National Financial Regulatory Administration has issued a notification to strengthen the supervision of non-auto insurance businesses, emphasizing the need for consistency between filed terms and actual execution [1]. - The notification targets long-standing issues of irrational competition in the non-auto insurance sector, urging a shift from rapid scale expansion to quality-focused development [1][2]. Group 2: Industry Impact - Non-auto insurance has become a significant growth engine for the property insurance industry, with its premium share projected to reach 47.4% by 2024, but the focus on scale over efficiency has led to high overall cost ratios and underwriting losses in key areas [1][2]. - The competitive model of "losing money to gain market share" undermines the risk-bearing capacity of insurance companies and diminishes the insurance protection function [2]. Group 3: Future Outlook - The policy aims to return non-auto insurance to its essence of risk pricing and cost control, creating a "stop-loss wall" to prevent ongoing internal competition among insurers [2][3]. - For leading insurers, advantages in data accumulation, actuarial models, and risk management will be amplified, while smaller insurers may need to focus on niche markets such as agricultural and technology insurance to survive [2][3]. Group 4: Implementation Challenges - The transition may involve short-term challenges, but it is essential for achieving high-quality development in the insurance sector [3]. - Regulatory effectiveness will depend on the cooperation between regulatory bodies and insurance companies, with a need for robust monitoring mechanisms to prevent circumvention of regulations [3].