Recently, the COVID-19 in Shanghai has once again touched the nerves of the whole society. In the current situation of multiple and dispersed spread of the epidemic, reducing personnel mobility is an effective means of preventing and controlling the epidemic. However, for those who travel frequently, cross regional mobility is still inevitable. It is very likely that an opportunity to travel for a short period of time will make business travelers the object of forced isolation. Some expenses or income losses that may occur during the isolation period naturally become great business opportunities that will not be ignored by insurance companies. "Isolation insurance" emerged as the times require.

1、 What is quarantine insurance

The full name of isolation insurance is COVID-19 Centralized Isolation Allowance Insurance, which is usually used as an additional insurance for accident insurance or health insurance. The insurance coverage of isolation insurance is that if the insured is required by the local government or epidemic prevention department to implement centralized isolation due to close contact with COVID-19 patients, or because of being in a medium and high risk area, the insurer will pay isolation allowance insurance benefits to the insured according to the actual isolation days (generally limited to 30 days) multiplied by the daily isolation allowance (generally 100-300 yuan/day).

2、 Complaints faced by quarantine insurance

Since its birth in 2021, due to its low premium and high cost performance, isolation insurance has quickly become the online red insurance in the circle of friends. Advertising slogans such as "making money lying down" have led to a surge in sales of quarantine insurance. At the same time, people are constantly complaining about quarantine insurance.

The Black Cat Complaint Platform shows that most of the complaints related to quarantine insurance are concentrated on issues such as false publicity and difficulty in settling claims. In fact, isolation insurance has strict insurance compensation conditions, and there are many deductible situations, such as home isolation and non self funded isolation, which are not covered by insurance compensation. For the purpose of obtaining customers, many insurance sales personnel focus on the promotion of isolation insurance with low premiums and compensation in isolation. However, the insurance liability, insurance rules, and liability exemption situations of isolation insurance have not been fully and comprehensively explained to the policyholders. Ultimately, once a claim is settled, the psychological expectations of insurance consumers naturally differ significantly from the actual situation of the claim.

3、 Specification for quarantine insurance

Regulatory authorities have responded promptly to complaints from insurance consumers about quarantine insurance. In February 2022, the Property and Insurance Department of the China Banking and Insurance Regulatory Commission issued the "Urgent Notice on Regulating the Operation of" Segregated "Allowance Insurance Business, requiring insurance companies to regulate sales and promotional activities, and not to make misleading publicity or explanations about important situations such as the protection responsibilities of insurance products through deception, concealment, or inducement, and not to seek the attention of consumers, Conduct one-sided propaganda and malicious hype.

After the issuance of the above-mentioned "Notice", many online red "isolation insurance" products have been successively removed from the shelves. It is reported that the new batch of online celebrity "isolation insurance" has been launched with a low profile after being updated and iterated. It is worth noting that quarantine insurance is no longer widely publicized as before. In the sales interface of multiple types of isolation insurance, it has been clearly defined that "home isolation is not included", and what situations are not covered by the insurance coverage have been clearly defined.

4、 Conclusion

Insurance sales is the first step for insurance products to reach insurance consumers. Due to information asymmetry, insurance consumers often rely more on the promotional content of insurance sales personnel for their understanding of insurance products. The legal compliance of insurance sales behavior is closely related to the right of insurance consumers to know, choose independently, and trade fairly. Therefore, sales activities in the insurance industry have always been the focus of industry regulation. From the 2012 "Guidelines for the Identification of Misleading Behaviors in Personal Insurance Sales", the 2013 "Measures for the Supervision of Insurance Sales Practitioners", to the 2017 "Interim Measures for the Retrospective Management of Insurance Sales Behaviors", to the 2021 "Guidelines for the Identification of Professional Distrust Behaviors of Insurance Sales Practitioners" and "Measures for the Administration of Personal Insurance Sales", As well as the "Insurance Sales Guidelines (Draft for Comments)" in 2022, the issuance of intensive documents by regulatory authorities is sufficient to illustrate the importance of insurance sales compliance in the insurance industry.

Isolation insurance is an innovative product developed by insurance companies under the epidemic. Ordinary consumers often flock to new things. As a professional insurance salesperson, when promoting this innovative product to consumers, we should always adhere to the basic bottom line of law-abiding, compliance, honesty, and credibility, and never let online red isolation insurance be poisoned by misleading sales.