China tightens regulation on online insurance amid wider fintech scrutiny ...News

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China tightens regulation on online insurance amid wider fintech scrutiny
The Chinese government has stepped up its scrutiny of domestic insurance technology platforms, ordering companies to curb improper marketing and pricing practices and increase user privacy protection. The China Banking and Insurance Regulatory Commission (CBIRC) on Wednesday rolled out an internet insurance revision plan, titled “Notice on Carrying out Special Rectification of Internet Insurance Disorders.” The plan aims to probe China’s online insurance companies to curb violations in their activities by October 2021. The legislation urges relevant firms to address issues such as improper marketing and pricing practices voluntarily, w

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