Beijing Insurance Association Issues Draft Rules on Car Premiums

Full article in Chinese: http://www.bocvip.com/2009-10-21/110289378.html

The Beijing Insurance Association said it is soliciting public opinion on draft rules to adjust insurance premiums in relation to records of claims from drivers.
The industry organization said in a statement on its Web site on Wednesday that the draft rules aim to ensure premiums to better reflect the risk to insurers.
Under the rules, drivers with no claims in five years will be eligible for a discount of up to 60 percent on the standard premium, while those with eight claims within a year will have to pay triple.
The draft rules opened for public comment on Wednesday.