The China Insurance coverage Safety Fund, the industry-funded backstop that steps in when insurers are liquidated, will get an expanded remit too, overlaying not simply bankruptcies however broader “main threat” conditions requiring a market exit, with a clearer capped-payout construction for policyholders. It is a related thought, in spirit, to the policyholder safety schemes and warranty funds working within the UK, EU member states and US states — although the mechanics, funding sources and payout caps all differ by jurisdiction.
