CIRC PUSHES FOR EXPANSION OF AVIATION INSURANCE

Chinese insurers are being encouraged by local regulator the China Insurance Regulatory Commission (CIRC) to develop a range of new aviation accident insurance products in the year ahead, after research by the watchdog showed public demand for new aviation insurance products. Local insurance laws surrounding aviation insurance were relaxed from the start of the year in a bid to help the market develop. The CIRC is understood to be particularly keen to encourage the sale of insurance products via automated machines stationed in airports.