The reform of the commercial auto insurance rate, which has attracted the attention of the majority of car owners, has taken the lead in the six regions of Heilongjiang since June 1 this year. It will see a big expansion next year! The reporter was informed that the China Insurance Regulatory Commission said that it will Tianjin, Inner Mongolia and Jilin. The areas under the jurisdiction of the Insurance Regulatory Bureau of Anhui, Henan, Hubei, Hunan, Guangdong, Sichuan, Qinghai, Ningxia, Xinjiang, etc. are included in the pilot area of ​​commercial auto insurance reform, and the commercial auto insurance reform pilot will be launched on January 1 next year.
The total pilot area will reach 18 in February this year. The China Insurance Regulatory Commission officially issued the "Opinions on Deepening the Reform of the Commercial Vehicle Insurance Clause Rate Management Mechanism". Its main objective is to establish a sound and reasonable management system for commercial auto insurance clauses that meets China's national conditions. Taking the industry model clause as the main body and the innovative clause as a supplement, establish a standardized and personalized commercial auto insurance clause system. Based on the law of large numbers, market-oriented, and gradually expand the commercial auto insurance rate of property insurance companies to determine autonomy.
The "Daily Economic News" reporter noted that at the start of the rate reform, all insurance companies use the model clauses of the China Insurance Industry Association. In terms of rates, insurance companies need to follow: commercial auto insurance premium = benchmark pure risk premium / (1-additional expense rate) × non-compensation preferential treatment coefficient × independent underwriting coefficient × independent channel coefficient.
Among them, the benchmark pure risk premium and the non-compensation preferential factor rate adjustment plan are implemented with reference to the rate benchmark prepared by the China Insurance Industry Association. The surcharge rate is scheduled to be 35%. The independent underwriting factor rate adjustment plan and the independent channel coefficient rate adjustment plan that can be formulated by the insurance company can be used within the range of [0.85~1.15].
On June 1, the China Insurance Regulatory Commission launched the first batch of commercial auto insurance reform pilot projects in six regions, namely, six pilot areas including Heilongjiang, Shandong, Guangxi, Chongqing, Shaanxi and Qingdao, which fully activated the new commercial auto insurance clause rate.
This time, the China Insurance Regulatory Commission said that the areas under the jurisdiction of the Insurance Regulatory Bureau of Tianjin, Inner Mongolia, Jilin, Anhui, Henan, Hubei, Hunan, Guangdong, Sichuan, Qinghai, Ningxia and Xinjiang will be included in the pilot area of ​​commercial auto insurance reform. The auto insurance reform pilot will be launched on January 1 next year. This means that the number of pilot areas for commercial auto insurance reform in the country has reached 18.
Insurance companies use the lowest rate for low-risk car owners, with the promotion of auto insurance reform, their premiums will show a downward trend. At the same time, the premiums of high-risk car owners or customers with more frequent risks may increase significantly.
On July 31, the China Insurance Regulatory Commission issued the article “The first month of the commercial auto insurance reform pilot operation was stable”, pointing out that in the first month of reform, the average premiums of vehicles in the six pilot areas fell by about 9%. About 77% of policyholders' premiums were down year-on-year, and about 23% of policyholders' premiums increased.
In the pilot areas, the proportion of owners who also purchased commercial insurance was also 65.4%, up 3.6 percentage points year-on-year. The average insurance amount of motor vehicle third party liability commercial insurance in the pilot area was 421,300 yuan, an increase of 67,000 yuan. The newly-launched “Unable to find third-party special insurance” has become the additional insurance with the highest insurance coverage except “without deductible risk insurance” and “glass alone breakage insurance” within one month.
The China Insurance Regulatory Commission also stated that in June 2015, the six pilot areas covered a total of 1.307 million commercial auto insurance policies, an increase of 17.2% year-on-year; the premium income was 4.89 billion yuan, a year-on-year increase of 6.6%. As of the end of June, the comprehensive cost ratio of auto insurance in the six pilot areas was 94.36%, up 1.04 percentage points year-on-year, down 1.9 percentage points from the previous May. Among them, the comprehensive claims ratio and the comprehensive expense ratio decreased by 0.69 and 1.21 percentage points respectively.
However, many insurance companies disclosed in the exchange with the "Daily Economic News" reporters that from the pilot areas, in many cases, the auto insurance premiums have reached the level of "double 0.85", that is, the independent channel coefficient and the underwriting coefficient. It is calculated according to the minimum standard of 0.85, and insurance companies will give such a discount. This may affect the premium adequacy ratio (a measure of the solvency of the insurance company), resulting in a loss of auto insurance coverage.
An insurance company, an unwilling person named, said in a conversation with the reporter of "Daily Economic News" that overall, the auto insurance underwriting interest rate has reached the edge of losses. It is expected that this year's auto insurance is likely to be an underwriting loss, and the overall profit is very good. difficult.