Guangdong Banking and Insurance Regulatory Bureau takes the lead in promoting the "equivalent recognition" of cross-border auto insurance

The Guangdong Banking and Insurance Regulatory Bureau, together with five departments including the Provincial Public Security Department and the Guangdong Branch of the General Administration of Customs, held a press conference on the "Macau Car Northbound" policy, taking the lead in promoting the "equivalent recognition" policy for cross-border car insurance in the country, supporting cross-border car owners to expand their insurance liability on the basis of their original policies, and providing one-stop claims services such as investigation, loss assessment, claim verification, and handling of personal injury cases by domestic insurance institutions, realizing underwriting in Macau, claims in Guangdong, and one policy covering both places, deepening the interconnection between the two places, improving the insurance protection mechanism, promoting the connection of financial regulatory rules and mechanisms between Guangdong and Macau. Support cross-border car owners to directly apply for additional insurance equivalent to the Hong Kong Zhuhai Macao Bridge Cross border Vehicle Mainland Traffic Compulsory Insurance from local insurance companies in Macau on the basis of their original car insurance, expanding their insurance liability to Mainland Traffic Compulsory Insurance. Guide mainland insurance institutions to provide claims services for car owners in both regions. Mainland insurance institutions will provide one-stop claims services such as survey, damage assessment, claim verification, and handling of personal injury cases for Macau cross-border vehicles that have been damaged in Guangdong region.