Study Of Protection Of Insurance Consumers’ Rights Of China

The domestic insurance industry has had a rapid growth in recent years, as the premiums rise steadily in the meantime. However, more cases of insurance consumers’s right being infringed have come along with this growth, and sales misguidance and difficulty of settlement have weakened the credit foundation of insurance industry being grown on and thus impede the further development of the industry. A set of measures have been implemented by the regulatory authorities to regulate the industry and protect the legitimate rights and interests of the insurance consumers. In March,2012CIRC has required the insurance companies to implement the insurance service pledge activity, and published119companies’ service pledges on the website of China Insurance association, including58P&C insurance bodies. Insurance service pledge activity is no doubt a meaningful attempt to protect the insurance consumers, but the defects in contents and implementations of these pledges heavily constrained the effectiveness of these pledges.In this context, I try to work through enumerations, comparisons and analysis of these pledges from the insurance companies, in order to find the drawbacks of these pledges, and further more give some suggestions of improving and implementing the P&C insurance pledges to protect the Chinese insurance consumers more effectively.