Provisional Measures for the Regulation of Internet Insurance Businesses entered into force on 1 Oct. 2015, and remained effective for three years.
There are 30 articles in total. The Provisional Measures aim to regulate Internet insurance businesses and protect the legitimate rights and interests of policy consumers. Key points of the Provisional Measures are as follows:
Internet insurance businesses refer to the businesses under which insurance institutions conclude insurance contracts and provide insurance services via, among others, their proprietary network platforms or third-party network platforms by relying on the Internet, mobile communications and other technologies.
Insurance institutions shall ensure that Internet insurance consumers enjoy insurance services such as insurance purchase and settlement of claims that are not lower than those for any other business channel.