The city has launched its first catastrophe insurance program on a pilot basis a 36 million yuan deal the Shenzhen branch of PICC property and Casualty Co. and the city. Those affected by catastrophes will be insured up to 2.5 billion yuan. The government funded insurance will cover the costs of medical treatment, disabilities and [...]
Shenzhen has won the approval of the Central Government to pilot a catastrophe insurance program that will fill in the gap in the insurance coverage in China. The city government gave the green light to conduct a preliminary plan of a new disaster program and to buy insurance policies from insurers to protect its residents [...]
Last January the General Administration of Quality Supervision, Inspection and Quarantine released regulations on auto warranties that will take effect in October that will give customers the rights to return faulty vehicles for replacement or refund. The 3R regulations namely repair, return or replacement which is also known as the three guarantees have been accepted [...]
The China Insurance Regulatory Commission said that Shenzhen will be piloting a catastrophe insurance program that will fill the gap in the insurance coverage in China. An insurance working group has met in the city in order to discuss the catastrophe fund establishment, its scope of coverage, premium rates and other topics. The insurance program [...]
China’s Ministry of Environmental Protection (MEP) and the China Insurance Regulatory Commission (CIRC) jointly released the Guiding Opinions on Carrying Out the Pilot Program on Compulsory Environmental Pollution Liability Insurance which forces heavily-polluting enterprises to join an environmental liability insurance system to ensure they can provide adequate compensation for any damages caused. Enterprises required to [...]
Shenzhen’s Social Insurance Bureau recently released a circular concerning social insurance payments in the city, which came into effect from January 1, 2013. The circular provides new policies regarding the payment of pension insurance and unemployment insurance in Shenzhen, and cancels over-age pension insurance contributions for individuals with Shenzhen hukou. Detailed information can be found below. [...]
A spokesperson for the municipal human resources and social security bureau said that the government run unemployment insurance of the city will be extending its coverage to 6 million employees without hukou or permanent residency permits. Currently the insurance only covers those people holding Shenzhen hukou, but according to the new law which will take [...]
Foreigners living in China along with Chinese citizens who are working overseas can benefit from the planned simplified social insurance payments. The plans are currently being discussed under international agreements. Xu Yanjun the vice director of the Social Insurance Administration have already held talks with Japan and France and is currently in initial discussions with [...]
Through a new city service residents that are covered by the city medical insurance can now share their accounts with other insured family members when their balances exceed the city’s average monthly salary for last year. The service has been initiated by the Shenzhen Social Insurance Fund Management Bureau and allows the card owners to [...]
Since the flexible car insurance scheme was introduced last February, a lot of motorists have already benefited from it. The scheme was aimed at giving insurers greater autonomy to develop new car insurance products and set premium changes. Premiums for private cars are at 4,554 yuan between March to May, indicating a six percent fall [...]
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Shenzhen Standard. All Rights Reserved.
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