CHINA China mulls real-name registration for individual insurance

CHINA

China mulls real-name registration for individual insurance

Xinhua

19:44, April 24, 2020

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A citizen consults a medical worker about health check at the Xiangyang No.1 People's Hospital in Xiangyang, central China's Hubei Province, March 30, 2020. (Photo: Xinhua)

BEIJING, April 24 (Xinhua) -- China's top insurance regulator has started to solicit public opinion on real-name registration in individual insurance to avert risk and better protect property safety for consumers.

Real-name system will be implemented in the insurance business for natural persons, said the China Banking and Insurance Regulatory Commission (CBIRC) Friday.

In business dealings, insurers and insurance intermediaries should clearly inform consumers of information that the real-name system requires and the purposes.

The CBIRC also emphasized to further improve management system on information security, regularize data collection and legally use the real-name information, while pledging to enhance supervision over violations.

Public opinion will be solicited until May 24. 

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