Risk management rules for insurers
By Xie Qi (chinadaily.com.cn)Updated: 2007-05-14 11:15
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The China Insurance Regulatory Commission (CIRC) has announced guidelines for insurance companies on risk management.
The vice director of the development and reform
department at CIRC, Fang Yongbin, said this is the first set of rules on risk
management in the insurance industry. The principle is to help the insurance
companies establish a
Fang said the boards of insurance companies should consider risk management a crucial part of business strategy and take responsibility of it. He added this is the only way to prevent risk and ensure benefits both to the insured and insurer.
The full text is available in the May Issue of China Insurance.
(For more biz stories, please visit Industry Updates)