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BRIEF-China regulator launches crackdown on property insurance misconduct
July 4, 2017 / 10:18 AM / 5 months ago

BRIEF-China regulator launches crackdown on property insurance misconduct

BEIJING, July 4 (Reuters) - The China Insurance Regulatory Commission (CIRC) said in an online statement on Tuesday:

* The regulator has launched a targeted crackdown on the property insurance sector to improve market order

* Property insurance companies are required to conduct “comprehensive self-assessment” in July, and correct their wrongdoings and clean up “zombie products” in August

* CIRC will pick some questionable companies for inspection between mid-September and October-end (Reporting by Beijing finance team)

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