China tells insurers to stop offering gambling insurance

China’s insurance regulator has told companies operating in the country that they can no longer offer products related to gambling, such as An Cheng Insurance’s “heartbreak insurance” linked to losses in the World Cup, the Wall Street Journal reports.

The company had planned to release new insurance products for the upcoming second round of the World Cup, “but there is no more,” Zhang Yi, product manager at An Cheng was cited as saying.

However, the company is still offering a second tournament-related product: “Getting Drunk Insurance.” It covers medical expenses of up to 500 yuan if the buyer gets drunk and sick. The coverage lasts for 90 days.

 

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