An Innovative Liability Insurance Solution to Evolving Legal Challenges in China
May 25, 2016| Von Frank Wang
The insurance market in China experienced robust growth in the last decade and has emerged as one of the largest in the world, with its Property/Casualty premium growing from USD 9 billion in 2000 to a staggering USD 140 billion at the end of 2015. Now China has become the third largest P/C market in the world, and the largest liability insurance market among emerging Asian economies. Even so, China's insurance market still has a very high growth potential, considering that the liability insurance penetration ratio is still only 0.05%.