Beijing Business Today (Reporter Li Xiumei): On 9 29, the National Financial Regulatory Administration and the Ministry of Commerce jointly issued the "Notice on Strengthening Synergy between Commerce and Insurance and Doing a Good Job in Domestic Trade Insurance" (hereinafter referred to as the "Notice").
The Notice calls for insurance companies to solidify the foundation of domestic trade insurance by building specialized teams and enhancing capabilities in risk control, data, and systems. It also emphasizes allocating sufficient underwriting resources for domestic trade insurance. The policy strengthens collaboration between government-backed and commercial insurers to provide integrated risk protection services for enterprises engaged in both domestic and foreign trade. Reinsurance firms are encouraged to deepen their research on domestic trade insurance, improve coordination with direct insurers, and increase reinsurance support for such business. Insurers are guided to refine supporting service systems that help insured enterprises strengthen credit risk management. The industry is further encouraged to share best practices in underwriting, risk management, claims handling, and recovery to elevate professional standards across the sector.
