Live Insurance News

Bank deposit insurance has nearly arrived in China

December 2, 2014December 2, 2014 H. Cutner

The country is close to launching the coverage that could open up free competition by banks for customers. China is drawing ever closer to the launch of a bank deposit insurance system that has long been anticipated but that has yet to have been accomplished, and that could completely overhaul that country’s financial sector. This change could hike the risk level in the banking sector and could make it possible for immense future opportunities. By introducing a system of bank deposit insurance, it could mean that there may one day…

China’s insurance industry is booming

July 10, 2014July 8, 2014 Marc

Insurers in China will likely find more success in the coming years China’s insurance industry has been experiencing rapid growth over the past few years and this growth is expected to accelerate, according to the China Insurance Regulatory Commission. As consumers throughout the country become more affluent, the demand for insurance coverage is beginning to rise. More people are purchasing coverage and insurers are pulling in more revenue from premiums. These premiums are likely to account for a significant portion of China’s gross domestic product in the coming years. Report…

Insurance news from China shows gambling in the form of World Cup coverage

July 1, 2014July 1, 2014 Julie Campbell

Fans had been able to purchase “Drunk”, policies…as well as thinly veiled wagering opportunities. When discussing insurance news in the context of the FIFA World Cup, one might think about the coverage that the players have obtained, or that properties and businesses in areas with hard core fans might have purchased in case of damage following late night celebrations or even soccer riots. However, in China, policies have been appearing to allow gamblers to wager in a new way. Die-hard fans in China have been making insurance news through very…

Climate change insurance is being scooped up by Chinese farmers

April 28, 2014April 28, 2014 Julie Campbell

Millions of growers have been persuaded by policymakers to cover themselves against losses from this phenomenon. Chinese farmers are more than aware of the damage that extreme weather can cause to a crop, and they are now protecting themselves with climate change insurance in the hopes of reducing the losses that they experience if severe weather should strike. Last year was a lesson that was hard learned by farmers in China, when extreme weather devastated crops. Only weeks before the rice harvest, last summer, paddies were struck by extreme weather…

Deposit insurance fund may soon be coming to China

December 12, 2013December 9, 2013 H. Cutner

The central bank in the country could be assembling this fund as soon as 2014. As a step toward the establishment of an independent deposit insurance company, the central bank in China will likely be assembling a fund of that nature within the next year so that it will be prepared to provide the necessary coverage when its new product arm is ready to launch Although this action has yet to be officially confirmed, the news has been leaked by several unnamed sources. These sources, close to the central bank,…