China Banking and Insurance Regulatory Commission, Measures for the Administration of Information Disclosure Relating to Life Insurance Products (Draft for Comments)

中国银行保险监督管理委员会人身保险产品信息披露管理办法 (征求意见稿)

August 26, 2022 | BY

Susan Mok

CBIRC enhances life insurance disclosure requirements of insurance companies

Issued: August 2, 2022

Main contents: Part Two of the Measures specifies that the insurance company is the entity that discloses information relating to a product and that such information disclosure is provided for the sake of proposers, the insured, beneficiaries and the public.

Part Three specifies the materials and information relating to a product that an insurance company is required to disclose, including information such as the product clauses, premium rates and cash value table that has an immediate bearing on consumers' rights and interests. It specifies the information to be disclosed before the sale, during the sale and after the sale of an insurance product as well as the information disclosure requirements relating to the service of special groups of people.

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