In May, the reform pilot will be launched, and the insurance company's autonomy auto insurance rate market will be expanded to confirm that the China Insurance Regulatory Commission recently issued the "Opinions on Deepening the Reform of the Commercial Vehicle Insurance Clause Rate Management System." On February 3, Liu Feng, director of the Insurance Department of the China Insurance Regulatory Commission, answered questions related to the market.
At present, domestic auto insurance premium income accounts for more than 70% of property insurance income. The current commercial auto insurance is the three sets of guiding provisions formulated by the industry associations in 2006, that is, the scope of responsibility, the degree of guarantee and the level of the rates are basically the same, and the above-mentioned "three old" have played an active role in the background. However, with the rapid development of the auto insurance market, it is no longer able to meet the diverse needs of consumers.
Liu Feng said that in May this year, reform pilots will be launched in Heilongjiang, Guangxi, Shandong, Chongqing and Shaanxi. The reform will benefit the insured in two ways:
The first is to promote fair rates. The rate of future auto insurance rates will match the risk of the driver and the vehicle itself. For example, in the industry guidance clause, owners with low driving behavior and low risk ratios will enjoy lower premiums when insured and higher-risk customers.
The second is to broaden the scope of protection. The new terms will modify the content of the original clause that is controversial and better protect the rights of the owner. The industry model clauses and the company's independent innovation clauses coexist, enrich the supply of auto insurance and expand consumer choice.
Auto insurance rate actuarial professionalism is very strong, how can consumers identify the price/performance ratio of auto insurance?
Liu Feng said that the regulatory authorities will regard consumer protection as the primary factor to consider in the auto insurance rate reform. At the beginning of the reform, the industry association will draft and improve two sets of model clauses for insurance companies to choose to use; at the same time, industry associations will dynamically release benchmark risk premiums for reference when insurance companies develop products. According to the practical effect, the insurance company will gradually expand the autonomy of the rate determination in the future, and finally form a fully market-oriented auto insurance rate mechanism.
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