.contact us |.about us
News > Business News ...
Can China's insurance industry head off risks from SARS?
( 2003-05-29 10:28) (8)

Sales of health insurance policies in China's big cities have surged since SARS (severe acute respiratory syndrome) hit in April.

But as compensation payments have also mounted, the insurance risk has grown and China's fledgling insurance industry is struggling to head off the SARS danger.

The epidemic has caused a number of problems in the industry, including a drop in premium for some types of services, higher payouts, and difficulty selling policies. Because the course of the epidemic disease is uncharted, a lack of statistics in the insurance industry means management risk remains uncertain.

Treatment costs for SARS patient are fairly high, and commercial insurance companies have so far not been able to fully play a role in supplementing basic social medical insurance.

Insurance companies profit from people's investment on future risks and the SARS outbreak initially worried insurance companies, according to analysts.

But prompted by relevant governmental policies, China's insurance industry responded rapidly to SARS outbreak. So far, the China Insurance Regulatory Commission (CIRC) has approved 52 products and services by 24 insurance companies.

Companies have also adopted various measures in their services to meet the demand of the public.

Wang Xianzhang, general manager of China Life Company, said life insurance could alleviate the economic burdens of accident and disease by helping people pay for unexpected medical costs.

Latest statistics show that life insurance premiums in Beijing reached nearly two billion yuan (US$0.25 billion) in April, up 69.84 percent on a year ago.

Premiums in Guangzhou and Shanghai also grew rapidly.

Health insurance has become one of the most popular arenas for insurance companies and specialized management will be the future trend, analysts said.

Insurance companies have been busy carrying on more research within the field and setting up quick response systems to find an effective balance between public and commercial interests.

Wu Bin, an expert with New China Life Insurance Company, said insurance companies should control management risks to promote stable and long-term development of the industry.

Experts say SARS has prompted the insurance industry to examine the process of developing new products. After SARS, people will pay more attention to the industry's basic function of risk control rather than a value-added service like investment.

The influence of SARS will inevitably enhance public demand for insurance. Wang Zimu, chairman of the board of the Huatai Property Insurance Company said that at a time of sudden crisis, insurance can help stabilize society, benefit people, and may strengthen public insurance awareness, thus providing opportunities for rapid industry development.

Establishing mature insurance awareness and rational risk consciousness may be the lesson learned by the people from the SARS threat, experts said.

"I will take precautions by buying different insurance policies just in case," said Chen Yinglan, a 29-year editor of a Beijing-based magazine. 

Go to another section

E-Mail This Article
Printer-Friendly Format




Today's Top News Top Business News
WHO opens global conference on fatal virus
( 2003-06-18)
Premier pledges to improve public health system
( 2003-06-18)
Jobless rate at record high in HK
( 2003-06-18)
China forms aviation police
( 2003-06-18)
Israeli girl killed in shooting attack
( 2003-06-18)
TV trade war begins in earnest
( 2003-06-18)
Growing number of foreign-invested firms in rankings
( 2003-06-18)
Experts call for redistribution of wealth
( 2003-06-18)
New regulations to guide banking
( 2003-06-18)
"Best Asian Regulator" awarded to HK telecom authority
( 2003-06-18)







主站蜘蛛池模板: 欧美黄色一级在线| 中文字幕一区二区三区人妻少妇 | 日本年轻的妈妈| 成年人性生活免费视频| 亚洲网址在线观看| 精品露脸国产偷人在视频7| 国产国产人免费人成免费视频 | 亚洲第一区在线| 精品一区二区三区在线播放 | swag剧情系列在线观看| 无人视频免费观看免费视频 | 日本乱理伦电影在线| 亚洲av中文无码乱人伦在线观看 | 探花视频在线看视频| 国产亚洲人成无码网在线观看| 在线私拍国产福利精品| 在线日韩理论午夜中文电影| 一本久久精品一区二区| 把她抵在洗手台挺进撞击视频 | 国产真实乱偷人视频| 91chinese在线| 在线观看福利网站| japan69xxxxtube| 少妇性饥渴无码A区免费| 中文字幕在线视频免费| 日本国产成人精品视频| 久久看免费视频| 果冻传媒视频在线观看| 免费的黄色影片| 老鸭窝laoyawo国产精品| 国产午夜精品1区2区3福利| 国产超爽人人爽人人做| 国产精品99久久免费观看| 18videosex性欧美69| 国色天香社区在线观看免费播放| 久久久久久久久亚洲| 日韩精品内射视频免费观看| 亚洲s色大片在线观看| 粉色视频在线播放| 又紧又大又爽精品一区二区| 老马的春天顾晓婷5|