Since 2009, China has been able to boast a profit in its auto insurance sector, as it experienced a tightening on the regulation of price controls that turned it around after years of losses within the insurance industry as a whole, as 70 percent of its profits were from that sector. Now, China’s State Council is thinking about taking things a step further, with the consideration of a plan that would permit some foreign insurers to sell their own liability policies for the first time within the country, increasing the…
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Munich Re and Ping An Insurance to offer products for renewable energy companies
Munich Re and Ping An Insurance from China… have both announced that they will be working together in their first co-operation to create insurance products and services that they can offer to Chinese renewable energy companies. In a joint statement, the insurers said that they hope to develop solutions that will minimize the risk that investors face with renewable energy, so that larger projects of this nature will actually become possible. A spokesperson from Munich Re declined to make a statement regarding whether or not the two companies intend to…
Read MoreInsurance survey shows consumers unclear about what they really have
A new survey from Accenture, a managing and technology services company, has been released. The survey draws upon the experience of 7,000 people across 13 countries regarding their satisfaction with the insurance industry. The worldwide industry has come under a fair amount of scrutiny recently for glorifying insurance policies that are far less than what they claim to be. Accenture’s survey reveals major gaps between what customers expect to receive from insurers and what they are actually getting. According to the survey, 84% of respondents said that they were satisfied…
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