CHENGDU, Jan. 11 (NBD) -- Property and casualty insurance companies should make efforts to improve the ratemaking process as well as management and control mechanism, according to a guideline released by the China Insurance Regulatory Commission (CIRC) on Tuesday to regulate the ratemaking of property and casualty insurance products. 

The new regulation is aimed at preventing insurers from insolvency caused by the deficiency of the pricing method. 

Next, the insurance regulator will endeavor to promote the construction of a long-acting ratemaking supervision mechanism by creating an overall framework and process for ratemaking, leveraging forces of supervision departments at all levels, and strengthening tracking and experience summary. 

Email: lansuying@nbd.com.cn