China nudges its insurers to bring cheaper medical insurance policies for coronavirus

The Government of China is pushing the insurance companies to bring cheaper medical insurance policies related to the coronavirus. The government is also assuring the insurers of approving the new products fast, according to the source’s information. The move is expected to mark a shift in the Chinese insurance market. However, China Life, China Pacific Insurance, Ping An Insurance Group and Zhong An Online P&C Insurance Co, among others, have included coverage for the virus in their existing medical insurance products, according to their websites.