The China Insurance Security Fund, the industry-funded backstop that steps in when insurers are liquidated, gets an expanded remit too, covering not just bankruptcies but broader “major risk” situations requiring a market exit, with a clearer capped-payout structure for policyholders. It’s a similar idea, in spirit, to the policyholder protection schemes and guaranty funds operating in the UK, EU member states and US states — though the mechanics, funding sources and payout caps all differ by jurisdiction.
