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CN NFRA Guides Banking & Insurance Industry in Providing Financial Protection Services for Tai Po Fire
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China’s National Financial Regulatory Administration (NFRA) announced guidance for the banking and insurance industries to fully provide financial protection services related to the Tai Po fire in Hong Kong. Relevant insurance institutions are required to conduct thorough business inspections, proactively offer services, scientifically allocate resources for damage assessment and compensation funds. They should adhere to the principles of “full compensation, fast compensation, reasonable pre-compensation”, simplify procedures, optimize processes, and demonstrate the warmth and speed of insurance claims, promptly handling claims procedures for affected clients to help residents resume production and life. Taiping Insurance Group should enhance coordination, guide subsidiaries to play leading roles in direct insurance and reinsurance, and improve insurance protection services. AASTOCKS Financial News Website: www.aastocks.com |
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