The emergence of cars has changed people's way of travel. Many people buy cars and will also give them an insurance. For this phenomenon, the CBRC will have different auto insurance regulations every year. Many people also have different views and opinions on this. What are the specific regulations? Let's take a look at the materials compiled by Xiaobian.
In the face of the existing problems, the circular requires all dispatched offices to investigate and deal with the violations of auto insurance operation of property insurance institutions within their jurisdiction in accordance with their responsibilities. In order to ensure the timeliness and effectiveness of regulatory measures and quickly correct the market disorder, after all dispatched offices verify that the property insurance institutions fail to apply for approval and use the terms and rates of vehicle insurance in accordance with the regulations, the cbcirc or its dispatched offices may take regulatory measures such as ordering the relevant property insurance institutions to stop using the terms and rates of vehicle insurance and modifying them within a time limit, And punish relevant property insurance institutions and responsible personnel according to law.
Deepen the reform of commercial auto insurance
For the next step of commercial auto insurance reform, a person in charge of a property insurance company said: 'at this stage, the auto insurance market cannot simply rely on the market. The regulatory authorities should not only promote the product and service innovation of property insurance companies, but also strengthen the standardization and rectification of the auto insurance market, explore the idea of classified management, and achieve both the symptoms and the root causes. "
Earlier, Chen Donghui, President of Swiss Re China, said in an interview with the 21st Century Business Herald that it is not only the marketization of rates, but also the differentiation of auto insurance products and services. However, the knot cannot be solved, and the market subject has no way out, because according to the current market environment, most small and medium-sized insurance enterprises cannot compete with large enterprises. They rely on low costs, brand trust, or return of handling fees, and the product and rate structure are homogeneous. From foreign experience, commercial auto insurance reform will have a painful period of several years, and then find a new equilibrium, such as differentiated management.
It is worth mentioning that in September 2018, Shaanxi, Guangxi and Guizhou, as the first batch of pilot areas, fully liberalized the autonomy coefficient. Some people from property insurance companies believe that from the pilot of liberalizing auto insurance rates in the three places, the market has a certain degree of acceptance, but the relevant data and indicators are still changing and deserve further attention.
Zhu Junsheng, Professor of the Financial Research Institute of the development research center of the State Council, told the 21st Century Business Herald that although the previous commercial auto insurance reform gave market players a certain pricing power, due to the stage of the reform, the rate and pricing of auto insurance are still strictly controlled, which makes the market competition not only reflected in the competition between price and rate, Moreover, it is reflected in the acquisition of business by increasing the handling fee, which is also an important reason for the change of comprehensive loss rate and comprehensive cost rate in the reform of commercial auto insurance.
Zhu Junsheng suggested that in order to change this situation, we need to further deepen the reform of commercial auto insurance. There is no turning back in the reform of commercial auto insurance. Only by further deepening the reform and improving the pricing power of market players can we solve the problems in the current reform. Reform is a systematic project. To further promote the marketization of rates, it is required to simultaneously promote the reform of systems and mechanisms such as market exit mechanism, solvency supervision and information disclosure. In addition, for market players, they should improve their ability in risk control, product pricing and other aspects to provide technical guarantee for the marketization of rates.
The two rates rise and fall
Over the past three years, the overall effect of commercial auto insurance reform is obvious. Focus on the problem. According to a group of interbank exchange data learned from the 21st Century Business Herald, the comprehensive loss ratio of the auto insurance market continued to decrease and the comprehensive expense ratio increased year-on-year in 2018.