Home
Business
Metro
Nation
World
Sports
Feature
Opinion
View more »Opinion Columns
Wan LixinOpinion deputy editor of Shanghai Daily
Homesickness, a modern luxury we can all afford
CEIBS forum highlights environmental, social concerns in volatile global markets
Sunday
- Subscribe
Related News
Insurers warned of risk controls
By Zhang Fengming |
January 21, 2009, Wednesday
|
Print Edition
Print Edition
SHANGHAI insurers should build up their talent and increase risk controls for the tough times ahead, the top local regulator said yesterday.
The Shanghai insurance industry is facing a tough period with the possibility of new financial routs in the global market which means exposure to higher risks, the Shanghai Bureau of the China Insurance Regulatory Commission said yesterday at a conference for this year's work agenda.
The threat of policy holders wanting to redeem contracts is still looming with external uncertainties remaining, the regulator said.
Ma Xueping, head of the bureau, warned heads of insurance companies in Shanghai to shore up their risk controls against the current financial crisis.
"Insurers should understand clearly that the tough times are yet to end. Those who don't have risk control measures and who make mistakes will be held responsible and will be punished," he said.
Ma told insurers to keep researching new products and services despite the tough economic environment - "stopping or going back means a dead end."
He advised insurers to adjust their client pool and develop more and different products to meet the needs of middle class clients.
Ma yesterday also urged insurers to continue building up their talent.
Ma suggested insurers should give employees more training opportunities rather than cut jobs.
The Shanghai insurance industry is facing a tough period with the possibility of new financial routs in the global market which means exposure to higher risks, the Shanghai Bureau of the China Insurance Regulatory Commission said yesterday at a conference for this year's work agenda.
The threat of policy holders wanting to redeem contracts is still looming with external uncertainties remaining, the regulator said.
Ma Xueping, head of the bureau, warned heads of insurance companies in Shanghai to shore up their risk controls against the current financial crisis.
"Insurers should understand clearly that the tough times are yet to end. Those who don't have risk control measures and who make mistakes will be held responsible and will be punished," he said.
Ma told insurers to keep researching new products and services despite the tough economic environment - "stopping or going back means a dead end."
He advised insurers to adjust their client pool and develop more and different products to meet the needs of middle class clients.
Ma yesterday also urged insurers to continue building up their talent.
Ma suggested insurers should give employees more training opportunities rather than cut jobs.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
