Insurance Firms Stop Online Sales, as Regulator Takes Long Look

(Beijing) – Three insurance companies have been told to temporarily halt sales of policies on a popular e-shopping website, as sources say the insurance regulator has started examining products that function as investment tools.

The Tmall.com stores of Guohua Life, Zhujiang Life and Hongkang Life all contained a message on August 28 saying that they were updating their systems and services, and users will not be able to buy insurance products on the website during the maintenance. None said when sales would restart.