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Important Measures

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Amendments to the Directions for Insurance Companies to Engage in Microinsurance Business

The FSC announced amendments to Paragraph 2 and 9 of the aforementioned Directions on December 25, 2018, and the revised Directions took into force from the same date. The key points of the amendments are as follows:
1. The coverage of microinsurance was extended to the family members of the targets of such insurance to protect the family members of economically disadvantaged single parent families and people with special status. It is stipulated that the scope of family members includes the individual, his/her spouse and lineal blood relatives or family members.
2. The term “crippled” was changed to “disabled” to match the spirit of the Convention on the Rights of Persons with Disabilities.
Visitor: 95   Update: 2019-02-22