Complaints over Online Insurers Surge 121% in 2018: CBIRC

The China Banking and Insurance Regulatory Commission (CBIRC) reports a surge in complaints over online insurers in 2018.

CBIRC’s notice on 2018 insurance consumer complaints issued on 11 March indicates that it received a total of 88,454 complaints in relation to insurers last year, for a YoY decline of 5%.

The regulator received 10,531 complaints in relation to online insurers, however, for a YoY surge of 121.01%.

According to CBIRC the complaints mainly related to issues including inadequate or biased sales disclosures, unreasonable compensation conditions, insufficient reason to refuse compensation, tie-up sales with other insurance products and automatic renewal of insurance policies without prior consent.

38,839 complaints received by CBIRC last year related to compensation issues in relation to property insurers, while 28,820 of these complaints involved vehicle insurance compensation.

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