CIRC： The publicity of insurance products shall not include expressions such as ＂financial management＂ and ＂investment plan＂.

CCTV News:The China Insurance Regulatory Commission (CIRC) announced in official website yesterday (23rd) that it has issued a notice to regulate the product development and design behavior of insurance companies.

The Notice requires that the names of insurance products should be clear and clear, highlighting the liability characteristics of insurance products. The naming of insurance products, product specifications and related product publicity materials shall not contain expressions such as "financial management" and "investment plan". An insurance company shall not design universal insurance products or investment-linked insurance products in the form of additional insurance.

The China Insurance Regulatory Commission will impose administrative penalties on insurance companies that violate the regulations, prohibit the declaration of new products and stop accepting part or all of new business within a certain period of time, and seriously investigate the responsibilities of the company’s general manager, chief actuary and other responsible persons.