China's maximum insurance compensation for railway accidents has remained at 20,000 yuan for almost 20 years since the regulation was established in 1992, the Today Morning Express reported on Wednesday.

Experts are debating the fairness of the maximum compensation after a major crash involving two high-speed trains in Zhejiang province killed at least 39 and wounded more than 200 people on Saturday.

The insurance premium has also remained at two percent of the ticket price for railway accidents in China. The insurance premium is included in all ticket prices. Though ticket prices have increased significantly since 1992, the maximum insurance compensation has never increased.

Insurance industry insiders said the Ministry of Railway should allow commercial insurance companies to enter this area instead of the ministry's exclusive operation at present.