The Financial Insurance Department of the State Financial Supervision and Administration recently issued a letter to various supervisory authorities and financial insurance companies on the “Property Insurance Company Supervisory Rating Index and Rating Rules”, requesting timely feedback from each company. Classification regulation is already an industry trend. In March of this year, the General Administration of Financial Supervision issued the “Measures for the Supervision and Rating of Personal Insurance Companies”, which clearly assesses the supervisory process of evaluating the overall situation of personal insurance companies in accordance with these measures, which is the basis for implementing classification supervision of personal insurance companies. Property insurance companies followed suit and entered the stage of soliciting comments from the industry.

The Financial Insurance Department of the State Financial Supervision and Administration recently issued a letter to various supervisory authorities and financial insurance companies on the “Property Insurance Company Supervisory Rating Index and Rating Rules”, requesting timely feedback from each company. Classification regulation is already an industry trend. In March of this year, the General Administration of Financial Supervision issued the “Measures for the Supervision and Rating of Personal Insurance Companies”, which clearly assesses the supervisory process of evaluating the overall situation of personal insurance companies in accordance with these measures, which is the basis for implementing classification supervision of personal insurance companies. Property insurance companies followed suit and entered the stage of soliciting comments from the industry.