Insurance news shows that China is a more challenging marketplace than anticipated

August 28, 2012August 27, 2012 Julie Campbell

The compulsory auto coverage has both advantages and drawbacks for insurers. The Chinese marketplace is a captive one, and though this would seem like it is positive insurance news, particularly for the insurers, themselves, it is coming with its struggles. Fitch Ratings has reported that this environment is leading to some surprising losses. Although the law in China requires all motorists to have a car policy, which should – in theory – dilute the risk that is associated with underwriting that coverage, the most recent insurance news numbers are showing…

International insurance news from China shows new form of risk

June 8, 2012June 8, 2012 Marc

Drivers buying cars specifically for speed are increasing costs in the industry. Though international insurance news sources have estimated that the industry is worth about $50 billion for insurers in China, new rules are allowing foreign insurers to take their place in the country, as well, as they discover all new forms of risk that aren’t seen in other nations. Some consumers buy cars for speed and consider them disposable, even if they’re Ferraris. This risk is one of the major challenges faced by insurers from around the world –…