The National Financial Regulatory Administration and the Ministry of Commerce
issued a notice to strengthen commerce-insurance coordination on domestic trade
insurance. They urge insurers to shore up the sector’s foundation by expanding
specialist teams, strengthening risk controls, data and IT capabilities, and
allocating underwriting resources. The notice calls for coordinated work between
policy-based and commercial insurers and for integrated risk-protection services
for firms active in both domestic and foreign trade. It encourages reinsurers to
deepen research on domestic trade insurance, enhance connectivity with direct
insurers and increase reinsurance support. Insurers are also asked to improve
supporting services to help policyholders tighten credit-risk management and to
share mature practices on underwriting, risk management and claims recovery to
raise industry-wide professionalism.
