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[YesAuto Car Information] Recently, the China Banking Regulatory Commission announced that in order to better protect the rights and interests of consumers and promote the high-quality development of auto insurance, the China Banking Regulatory Commission issued the “Guiding Opinions on the Implementation of Comprehensive Auto Insurance Reform (Draft for Comment) on the 9th of this month. “(Hereinafter referred to as the “Draft for Soliciting Comments”), the draft is divided into 9 parts and 32 articles. The specific content not only involves the settlement of compulsory traffic insurance, but also makes greater reforms to the types of insurance that everyone often involves, such as the three insurances. Where will the future auto insurance go? What changes do consumers face in insurance for their cars? Follow me, let's see it soon!

Seven major changes/involving everyone

1. The limit of compulsory traffic insurance is raised to 200,000

Increase the total liability limit for compulsory traffic insurance from 122,000 yuan to 200,000 yuan, of which the death and disability compensation limit has been increased from 110,000 yuan to 180,000 yuan, the medical expenses compensation limit has been increased from 10,000 yuan to 18,000 yuan, and the property damage compensation limit has been maintained 2,000 yuan unchanged.

The non-liability compensation limit will be adjusted in the same proportion. The death and disability compensation limit will be increased from 11,000 yuan to 18,000 yuan, the medical expenses compensation limit will be increased from 1,000 yuan to 1,800 yuan, and the property damage compensation limit will remain unchanged at 100 yuan.

2. Three liability insurance can be up to 10 million

Increase the limit of liability for the three commercial insurance from the range of 50,000 to 5 million yuan to the range of 100,000 to 10 million yuan. This improvement mainly takes into account the level of economic and social development and meets higher risk protection needs. “Do you know why your three insurances are not enough? click here”

3. 7 items including broken glass are included in insurance liability

The main insurance clause of car damage insurance adds 7 aspects of insurance liability, namely the theft of motor vehicles, broken glass alone, spontaneous combustion, engine wading, excluding deductibles, designated repair shops, unable to find third-party special contracts, and support The industry develops additional insurance products such as independent loss insurance for wheels and liability insurance for drugs used outside of medical insurance.

According to the insurance industry, the seven additional insurance liabilities added to the main insurance of car damage insurance belonged to seven additional insurances in the past, and consumers can only obtain corresponding protection by insuring the corresponding additional insurance. The “Guiding Opinions” put additional risks into the car damage insurance clause, which greatly increases the coverage of car damage insurance, especially the cases of engine wading and separate broken glass, which will be easier to deal with in the future.

4. Formulate insurance clauses for auto insurance value-added services such as driving on behalf of others

The “Draft for Solicitation of Comments” has a number of clauses that support the industry to expand the scope of liability for commercial auto insurance under the principle of basically not increasing consumer premiums. For example, guiding the industry to reasonably delete the exemption clauses that are likely to cause claims disputes in practice, reasonably delete the accident liability exemption rate, and the inability to find third-party exemption rates and other deductible agreements.

Formulate model clauses for new energy vehicle insurance, accident insurance for drivers and passengers, and extended warranty insurance for motor vehicles, explore the development of innovative products such as motor vehicle mileage insurance (UBI) in new energy vehicles and traditional vehicles with conditions, and formulate provisions including inspection and road inspections. Model clauses for auto insurance value-added service insurance such as rescue, driving service, and safety inspection.

5. For car owners who have not paid, the premium is more favorable

On the basis of increasing the liability limit of compulsory traffic insurance, combined with the comprehensive compensation rate level of compulsory traffic insurance in various regions, a regional floating factor is introduced into the road traffic accident rate adjustment coefficient . The upper limit of the floating rate remains unchanged at 30%, and the floating rate is lowered from the original minimum of -30. % Is expanded to -50% to increase the discount rate for consumers who have not paid. This also means that the discount rate for consumers who have not paid for compensation has been increased compared to the original rate, which is a good thing for car owners with better driving behavior.

6. Lower limit of handling fee ratio

The upper limit of the additional expense rate for commercial auto insurance products is lowered from 35% to 25%, and the expected loss rate is increased from 65% to 75%. Promptly support property and casualty insurance companies to report for approval and filing of commercial auto insurance products in online sales, e-commerce and other channels where the upper limit of the additional expense rate is less than 25%.

According to the actual market risk situation, re-calculate the pure risk premiums of the commercial auto insurance industry, and establish a normalized mechanism for estimating the pure risk premiums of the commercial auto insurance industry that is adjusted every 2-3 years.

When guiding the industry to formulate the no-compensation preferential treatment coefficient for commercial auto insurance, it will consider expanding the range of compensation records from the previous year to the previous three years, and reduce the rate of increase in accidental compensation for consumers.

Guide the industry to reasonably set the upper limit of the handling fee ratio based on the upper limit of the additional expense rate of commercial auto insurance products, the actual market operation and the difference of market entities, and reduce the excessively high handling fee level in some fields.

7. Implement the real-name system for auto insurance and promote electronic insurance policies

On the basis of protecting consumers' right to know and choice, property insurance companies are encouraged to provide consumers with more convenient auto insurance underwriting and claims services through electronic insurance policies.

P&C insurance companies should strengthen the identity verification of policyholders, do a good job in insurance policy signatures, clause explanations, and exemptions, promote real-name payment, promote information transparency, prevent misleading sales, advance premiums, and sign on behalf of consumers, and protect the legitimate rights and interests of consumers.

Strengthen research on new technologies and applications such as the Internet of Vehicles, new energy, and autonomous driving, improve the efficiency of auto insurance operations, consolidate the foundation of auto insurance services, optimize the development environment for auto insurance, and promote the innovative development of auto insurance.


“New car insurance” adapted to the new era

    A seemingly concise draft of opinions on auto insurance reform is enough to show us the trend of China's auto insurance in the future.

We have done a lot of corresponding content before, whether it is “Fee Reform” or “Traffic Accident Compensation Standard”, all signs indicate the future trend of the insurance industry and the problems to be changed and solved. With the great changes in life, auto insurance The industry has been silently making more adaptations and changes, including not only the amount of claims, the method of claims and the scope of claims, but also more humane changes such as payment methods and electronic methods. We can also foresee the future Auto insurance will definitely develop towards intelligence, humanization, and customization, and it is the car owners who will benefit the most.

The current opinion draft is still in the stage of soliciting opinions, and it will take time before it is released. However, we will continue to track the latest situation and make corresponding interpretations for everyone in a timely manner. I hope you will continue to pay attention to the corresponding reports on the car channel.