China's insurance industry should give full play to economic
compensation and social management functions in order to make
greater contributions to the fight against severe acute respiratory
syndrome (SARS), a senior official of the China Insurance
Regulatory Commission (CIRC) said Tuesday.
Wu
Dingfu, CIRC chairman, made the remark while visiting two insurance
companies in Beijing Tuesday.
He
said that several companies had expanded hotline services and
reduced the liability observation period. Over approximately one
month, some 24 companies developed 52 SARS-related products and
services. Several companies also made donations to medical workers
and research institutions. China's insurance industry demonstrated
solidarity, coordination and courage to overcome difficulties, he
said.
He
said that the fight against SARS has yet to be won and insurance
companies should be aware of the negative impact of SARS, including
reduced business, higher compensation rates and difficulties in
policy sales. However, face with SARS, people's insurance awareness
has increased, and the industry may thus see more rapid growth in
the post-SARS period, he said.
The new products and services are expected to benefit people,
promote the development of new health policies, providing more
opportunities for life insurance companies.
Insurance companies will strengthen risk awareness and improve
management skills, he said.
(Xinhua News Agency May 27, 2003)