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China to encourage development of pensions, insurance for delivery sector By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO: Ele.me drivers prepare for their first shift of the morning in Beijing (China), September 21 2017. REUTERS/Thomas Peter/File Photo

BEIJING (Reuters), – China’s highest banking and insurance regulator has stated it intends to encourage the creation of accident insurance and commercial pension products by insurers for gig-economy workers, such as delivery drivers and couriers.

China has in recent years experienced a delivery boom powered by millions of couriers who work for companies such as Meituan Dianping (OTC:) and Alibaba’s Ele.me to deliver packages and meal orders around the country.

Although many people praise such services because they are quick and convenient, there has been growing controversy about the way these delivery men, who often work under very tight deadlines, are treated.

They are often not employed directly by the company they represent, making it difficult to obtain legal protection in traffic accident cases.

China Banking and Insurance Regulatory Commission stated in Friday’s guideline that they would encourage insurers to offer more insurance for older people aged 70 and over.

In addition, the regulator asked for greater efforts to promote medical insurance that covers congenital heart disease in children and other rare conditions.

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