Chinese people will no longer be able to take out cover against acne, sleep deprivation or smog after regulators banned insurance products deemed “attention-grabbing”, “speculative” and “exotic”.
The regulations issued by the China Insurance Regulatory Commission are part of a broader crackdown on non-traditional products.
Last month the commission launched a campaign against insurers straying beyond their core business model — insuring against personal losses — by selling short-term investments called universal insurance products, the proceeds of which were used to fund acquisitions. Liu Shiyu, the commission’s chief, warned insurers not to become “barbarians” and “robbers” by aggressively acquiring companies in leveraged buyouts.
您已阅读32%（739字），剩余68%（1559字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。