Huaan Auto Insurance is a formal insurance company.

Huaan Insurance is a formal insurance company approved by the Insurance Regulatory Commission. It has opened branches in 31 provinces and cities including Beijing, Shanghai, and Shenzhen, and has more than a thousand institutions.

Although it is not as well-known as other insurance giants, it is supervised by regulatory agencies and users do not have to worry too much about the reliability of Huaan Insurance.

Insurance companies refer to Chinese-funded insurance companies and foreign-funded insurance companies that are established with the approval of the Insurance Regulatory Authority of the State Council and registered in accordance with the law within the country.

Insurance companies collect premiums, invest the capital from the premiums in assets such as bonds, stocks, and loans, and use the income from these assets to pay the insurance compensation determined by the policy.

Through the above-mentioned businesses, insurance companies can earn high returns on investments and provide customers with appropriate insurance services at lower premiums, thereby making profits.

The business of insurance companies is divided into two categories: personal insurance business, including life insurance, health insurance, accident insurance and other insurance businesses.

Property insurance business, including property damage insurance, liability insurance, credit insurance, guarantee insurance and other insurance businesses.

Insurance companies in my country are generally not allowed to engage in personal insurance business and property insurance business concurrently.

The insurer in an insurance relationship has the right to collect insurance premiums and establish insurance premium funds.

At the same time, when an insured accident occurs, the insured is obliged to compensate for the economic losses.