CIRC introduces property rate guidelines

The China Insurance Regulatory Commission (CIRC) has issued new
guidelines on property insurance premiums designed to ensure rates
are "reasonable, fair and adequate".
The CIRC said it wants to protect "the legitimate rights of
the insurance consumer" while maintaining industry
stability.
It noted that property insurance products currently on the
market are "numerous and complicated", and that a lack of
historical data creates the potential for pricing risk.
The guidelines are among a raft of pr