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EXECUTIVE FROM PICC CORRECTS 30%-CUT SAYING


AsiaInfo Services

12-17-2002

Executive from PICC Corrects 30%-Cut Saying

BEIJING, Dec 17, 2002 (SinoCast via COMTEX) -- Some media reported that the vehicle insurance premium rate will reduce by 30% after reform, while it is not accurate, says Jia Haimao, general manager of Vehicle Insurance Department of People's Insurance of China (PICC).

It is said that since January 1, 2003, insurance companies will implement new vehicle insurance premium rates. The insurance companies have submitted their new clauses to China Insurance Regulatory Commission (CIR

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