Insurance Regulator Bans Sale of Two 'Smog Policies'

(Beijing) – The regulator has banned the sale of two new policies that insured people against health hazards linked to smog, saying they fell short of standards for insurable items.

The companies that designed the policies – PICC Property and Casualty Co. Ltd., Ping An Annuity Insurance Co. and Ping An Property and Casualty Insurance Co. – received a notice from the insurance regulator telling them to stop selling those policies, sources from the companies say. The latter two are subsidiaries of Ping An Insurance Group.