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English > Finance > Finance-newsbrief>Beijing Insurance Association Issues Draft Rules on Car Premiums

Beijing Insurance Association Issues Draft Rules on Car Premiums

10-22 13:49 Caijing

Full article in Chinese: http://www.caijing.com.cn/2009-10-21/110289378.html

» The Beijing Insurance Association said it is soliciting public opinion on draft rules to adjust insurance premiums in relation to records of claims from drivers. 
» The industry organization said in a statement on its Web site on Wednesday that the draft rules aim to ensure premiums to better reflect the risk to insurers.
» Under the rules, drivers with no claims in five years will be eligible for a discount of up to 60 percent on the standard premium, while those with eight claims within a year will have to pay triple.
» The draft rules opened for public comment on Wednesday.
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