Insurance Law

Maximum predetermined interest rate for standard personal insurance raised from 2.5% to 3.5%.

Chief actuary of an insurance company bears lifetime liability.

CIRC to regularly assess credit rating agencies

CIRC encourages the development of liability insurance.

Car insurance market open to foreign insurers.

The information on the subject matter of insurance or the insured well known to the proposer at the time of entry into the insurance contract constitutes information that the proposer shall truthfully provide.

Insurance institutions allowed to sell securities funds.

Only certain insurance companies are allowed to engage in non-basic businesses.

Real property tax will be expanded to cover more cities.