皇冠体育app moves to tighten supervision of insurance license

By Song Hongmei (chinadaily.com.cn)
Updated: 2006-12-11 14:30

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The 皇冠体育app Insurance Regulatory Commission (CIRC) has drafted detailed plans to strengthen the supervision of insurance licenses as part of its efforts to control risks while expanding insurance investment channels.

CIRC released draft rules on its website last week for public consultation that stipulate insurance institutions will be coded on a permanent basis.

皇冠体育app will adopt the practice of grade management with regard to insurance licenses. Insurance institutions are required to display their business licenses in their sales office or face a fine of 5,000 to 30,000 yuan (US$638-US$3828).

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