CHINA’S PICC LAUNCHES LTC PRODUCT ON MAINLAND

China-based PICC Health Insurance has launched a long-term care (LTC) insurance product, which it claimed to be the first in mainland China. The product offers cover for care fees and care services for those suffering from chronic diseases or who are disabled. PICC Health Insurance, which was founded in March last year, received technical support from Germany’s Deutsche Krankenversicherung (DKV), part of Munich Re’s primary insurance group Ergo. DKV is a significant stakeholder in PICC Health Insurance. PICC said that the new product would be targeting customers aged between 18 and 59 years.