A1OnlineInsurance Company

China is becoming one of the most important economics of the World. Although its business services sector is small as compared to America, Europe or Japan, Its rapid growth rate makes it a critical arena for insurers and solution providers. Insurance protects society from consequences of financial loss as a result of sickness, damage to property or injury caused to others. China insurance has served as the window to the insurance industries of china for more than seventy years. Due to rapid development of the science and technology china enter into the world trade organization.

China insurance regulatory commission is minstrel institution authorized by the state council, relevant laws, rules and regulations. Main function of this commission to examine and approve the establishment of insurance companies, insurance holding companies , to examine and approve the insurance assets management companies , to examine and approve the set up of insurance intermediary institutions such as insurance agencies , brokers and appraisals companies . This commission imposes insurance articles and rates of premium for compulsory insurance schemes or newly developed life insurance schemes.

China Auto insurance market had shown a robust growth over the past three years due to introduction of new models and frequent price cut after china accession to the WTO.American Insurance Group of United States were founded in Shanghai in 1919 is the current largest insurers in the world. Before 1950 insurance industry of China was controlled by maximum foreign companies. More families are choosing to travel during their vacations. To minimize unplanned damage and loss, travel insurance offers safeguard , immediate help and payment for misshapenness that may occur during traveling. In China, travel agencies offer their clients Liability insurance issued by National Tourism Administration of China. As the life insurance sector faces a fierce competition due to foreign and domestic players, China is striving to diversify its insurance business by branching into pension and other non life business

More and more families are choosing to travel new places, so to minimized unexpected damage and loss most travel agencies in china offers safeguard, providing immediate help that may occur during trip. Liability travel insurance in china is issued by National administration of china. According to this law every Chinese travel agency must provide their clients their legitimate rights and interest of travelers. Travel insurance covers related expenses for medical treatment, loss or damage of tourist belongings, legal costs, tourist's causality and all other compensation. After opening of the market to FDI, China insurance industry has made rapid growth and advances. As a result of WTO negotiations, China has agreed to open its financial services market of insurance.

Foreign companies play a role in revival of China's insurance industries beginning in 1992. In 1998, State Council developed supervision functions from the People's Bank of China to the newly established China insurance regulatory commission. China ministry of commerce and China insurance regulatory commission aimed at benefiting the China insurance industry by encouraging openness with regulation and policy for future or improving the insurance industry structure. Insurance in China covers the major areas of consumers and general insurance. Areas covers include life insurance, property insurance and health insurance, household content insurance and other minor sectors.