Eastern Life Insurance was established on 200 1, and was funded by Delong Department. Later, due to the Delong crisis, Eastern Life was also implicated, and the funds faced great difficulties. In 2004, it was requested by relevant departments to suspend business. Guo Xin Life was founded in February 2005, but was dissolved by China Banking Regulatory Commission in June 2005. The reason for the dissolution was that the shareholders disagreed, and then someone absconded with the money.
Anbang Insurance was established in 2004, and achieved a ten-digit premium income in less than two years. Subsequently, Anbang Insurance also established a group company and set up more than 20 branches throughout the country. However, due to the rapid expansion of Anbang Insurance and non-compliance with business rules, some senior executives have a weak legal awareness, and finally the relevant departments found out that the registered capital was falsely reported.
Liability of insurance company
When the insured encounters certain risks or losses, the insurance company provides corresponding economic compensation to ensure the economic security of the insured. Insurance companies help customers manage risks and reduce risk losses through risk assessment and pricing. As an important participant in social risk management, insurance companies can assist the government and society in risk management and improve the safety level of the whole society.
After the insurance accident, the insurance company provides financial support to customers through claims settlement, helping them to resume their normal life and work as soon as possible. Insurance companies have professional teams, which can provide customers with professional consulting services such as risk assessment, insurance scheme design and claims consultation. Insurance companies have the responsibility to popularize insurance knowledge to the public and improve people's insurance awareness and risk awareness.