CHINESE RURAL SMALL SUM INSURANCE PENETRATION AT 30%

A NEW report suggests rural small-sum insurance in China has a penetration of no more than 30%. And it calls for tax incentives for companies offering such products. The products which are designed to offer a cheap and effective form of protection for those on low incomes. But the report, penned by a panel of authors led by Jiang Shengzhong, professor at the Nankai University, on the phenomenon suggests the Chinese government has not provided support for the concept hence the relatively low penetration.