In China, basic pension has covered 1 billion people, and basic medical insurance has covered more than 1.3 billion, with crossprovince fee settlement achieved. By video and remote authentication, key parts of the insurance business have been moved online. In the first half of this year, internet life insurance premium grew by 12.2% year on year, internet property insurance companies’ premium grew by 44.2%.
Or, as Walther Eucken put it, “He who profits must also bear the losses.” When it comes to two of the biggest economic actors in the monetary union, this principle applies only to a limited extent.