On 26th May 2017, the Shanghai Insurance Exchange
(SHIE) published the "Insurance Bidding
Platform Rules #1-3" (Rules).
The Rules state that, in future, bids run through the SHIE
platform will mainly be in the areas of government-initiated
"policy" insurance; large commercial risk
insurance; and public welfare insurance. Specifically:
- "Policy" insurance refers to
government-initiated, public welfare insurance programmes, such as
parametric, agricultural, catastrophe, single-payer healthcare,
aged person accident, and export credit etc...
- Large commercial risk insurance refers to large-scale insurance
cover afforded to commercial enterprises; and
- Public welfare insurance refers to that insurance purchased by
charitable institutions, or by donors to charitable institutions,
where those charitable institutions actively contribute to and
assist the public good and public welfare.
