China's National Financial Regulatory Administration and Ministry of Public Security have jointly issued guidance on cooperation between police and insurers to address rural road traffic safety hazards. The framework promotes insurance risk reduction through prevention and control, while allowing insurers to decide whether to participate based on their own circumstances and on a voluntary commercial basis. Local traffic police departments are to identify hazards and draw up lists of issues requiring action. Insurers may participate through arrangements agreed with police, including joint initiatives, with hazard remediation advancing progressively. Police and insurers are to track and evaluate the results of this work. The guidance also calls for data sharing between traffic police and the insurance sector in accordance with legal requirements. This will support risk monitoring and alerts, as well as statistical assessments of the effectiveness of remedial measures. The two authorities will establish a joint working mechanism to coordinate implementation.
China's National Financial Regulatory Administration and Ministry of Public Security issue guidance on voluntary insurer participation in rural road safety
China's National Financial Regulatory Administration and Ministry of Public Security have issued a framework for voluntary cooperation between insurers and police to tackle rural road safety hazards. Traffic police are to identify hazards, while insurers may agree to help address them. Joint evaluation and data sharing in accordance with legal requirements will support risk monitoring and assessment of remedial measures.