Wu Dingfu, chairman of the China Insurance Regulatory Commission, recently stressed the need to further accelerate the development of the insurance industry, make this sector big and strong and strive to give play to its important role in the building of a socialist harmonious society. He indicates that breakthrough should be made mainly in four fields in the development of insurance industry.

When talking about the situation regarding the reform and development of China's insurance industry at the Central Party School, Wu indicated that in the development of insurance industry, breakthroughs should be made mainly in the following four areas:

First, enterprise's annuity should be developed energetically.

Great efforts should be made to use multi-pillar old-age insurance system to replace the original single basic endowment insurance system, and guide and encourage the development of enterprise annuity and various other types of supplementary old-age insurance. Being skilled in actuarial computation, the use of capital, the management of funds paid and the payment of pension, an insurance company plays an important role in the field of supplementary endowment insurance and so can become the main manager of enterprise annuity.

Second, ways should be explored for the development of agricultural insurance.

On the basis of experiments, it is necessary to conscientiously sum up experiences and, in light of the reality of rural economic and agricultural development in various localities, to gradually set up the framework of a multi-tiered system, multi-channel support, and multi-mainstay operational agricultural insurance system.

Third, health insurance should be developed vigorously.

It is necessary to promote the specialized management of health insurance, approve the establishment of a batch of specialized health insurance companies, probe management methods for health insurance that conform to China's actuality, and improve the level of specialized management of health insurance.

Fourth, efforts should be made to develop liability insurance.

It is necessary to study and draw on common international practices used in some public places and highly dangerous trades, compel managers to effect commercial liability insurance and give proper play to the role in protecting the interests of victims of liability accidents.

By People's Daily Online