Elly and I recently mused about whether the free-thinking Chinese drivers bothered with auto insurance. A quick peek on the web indicates that they do have insurance, and it might even be required.
The People's Insurance Company of China (PICC) dominates the auto insurance market with about a 75% share. There is plenty of competition around as other companies want a piece of the pie.
One of PICC's more recent insurance packages makes more distinction between household and government vehicles, as opposed to business vehicles. Vehicles used for business purposes tend to have the higher risk.
One interesting statistic is that auto insurance generates more than 60 percent of the country's total property insurance premiums. I have no idea how that compares with other countries.
djbtol
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