People's Republic Of China Insurance

Original Language Title: 中华人民共和国保险法

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People's Republic of China President, 11th

                    People's Republic of China insurance law by the People's Republic of China the seventh meeting of the Standing Committee of the 11th NPC on February 28, 2009, amendments have been passed, now revised the People's Republic of China insurance announced that as of October 1, 2009.

                            People's Republic of China President Hu Jintao



The February 28, 2009

People's Republic of China insurance

(June 30, 1995 session of the Standing Committee of the national people's Congress, adopted at the 14th session of October 28, 2002, the 30th meeting of the Standing Committee of the ninth the modification of People's Republic of China insurance law amendment of decision on February 28, 2009 the seventh meeting of the Standing Committee of the 11th NPC amendments)

Directory

Chapter I General provisions

  Chapter II contract

  Section I General provisions

  Section II of the life insurance contract

Section III property insurance contract

Chapter insurance

The fourth chapter insurance operation rules

The fifth chapter insurance agents and insurance brokers

The sixth chapter insurance regulatory

The seventh chapter legal liability

The eighth chapter by-laws

Chapter I General provisions

First in order to regulate the insurance activities, protecting the legitimate rights and interests of the parties, strengthening supervision and regulation of the insurance industry, maintaining social and economic order and social and public interests, and promoting the healthy development of this law is enacted.

Insurance referred to in article II of this law refers to the applicant according to the contract, pay the premium to the insurer, the insurer contracts possible accident compensation for losses of property caused by its insurance liabilities, or when the insured person's death, disability, illness or at the contract's age, term and other conditions of the responsibility of insurance business insurance.

Article in the People's Republic of China engaged in insurance activities, this law shall apply.

Fourth engaged in insurance activities shall abide by the laws and administrative regulations, respect social morality and must not harm the social and public interests.

Fifth insurance the parties to exercise rights and perform obligations shall follow the principle of good faith.

Article sixth insurance business in accordance with the law of insurance companies and other insurance organizations stipulated by laws, administrative regulations, other entity or individual may engage in insurance business.

Seventh article in the People's Republic of China territory of legal persons and other organizations need to go through the territory of insurance shall be made to the People's Republic of China territory of insurance. Eighth insurance and banking, securities, trust introduction of industry operation and management, insurance and banking, securities, trust institutions be established separately.

Except as otherwise provided.

Nineth insurance supervision and Administration Department under the State Council shall exercise supervision over the insurance industry and administer. State insurance regulatory agencies perform their duties according to the need to establish agencies.

Agencies as mandated by the insurance supervision and Administration Department under the State Council to fulfil duties of supervision and management.

Chapter II contract

Section I General provisions

Tenth is an insurance contract the insured and the insurer agreed insurance rights and obligations of the agreement.

The applicant refers to enter into an insurance contract with the insurer, and in accordance with the contract who is liable to pay premiums.

An insurer refers to insurance contracts with policyholders, and according to the indemnity or contract to pay the insurance liability insurance companies.

11th enter into an insurance contract, should consensus, follow the principle of fairness to determine the rights and obligations of the parties.

Apart from the provisions of laws and administrative regulations must be insured, insurance contract is voluntary.

12th life insurance policyholders in the insurance contract, the insured shall have an insurable interest.

Property insurance to the insured at the time of the occurrence of the insured, to have an insurable interest in the insured.

Life insurance is based on one's life and body as the subject matter of insurance.

Property insurance is insurance of property and related interests for the subject-matter insured. Refers to the property of the insured or the person subject to the insurance contract, persons entitled to the right to insurance claims.

An applicant can be insured.

Insurable interest refers to the insured or the insurance of the insured has a legally recognized interest. 13th the applicant requests insurance, the insurer agrees to underwrite an insurance contract.

The insurer shall issue an insurance policy or other insurance certificates to the applicant in a timely manner. Insurance policy or certificate shall set forth the contract as agreed upon by the parties.

Can also be agreed by the parties in other written form shall record the contract. To set up insurance contracts, and since implemented.

Validity of the applicant and the insurer may contract conditions precedent or time limit.

14th after the establishment of an insurance contract, the insured person in accordance with the contract the premium, the insurer in accordance with the agreed time begin to assume insurance responsibility.

15th unless otherwise herein provided or otherwise specified in the insurance contract, after the insurance contract, the insured may terminate the contract, the insurer may terminate the contract.

16th enters into an insurance contract, the insurer of the insured or the insured the situation raised questions, the insured person shall truthfully informed.

The insured intentionally or by gross negligence, did not implement the provisions of the preceding paragraph, the obligation will impact insurers decide whether to agree to underwrite, or raise the insurance premium, the insurer has the right to terminate the contract. Right of termination of the contract under the preceding paragraph, since insurers know release date more than 30th not to destroy.

More than two years from the date of the contract, the insurer may terminate the contract; an insured, the insurer shall assume responsibility for compensation or insurance.

The applicant intentionally fails to perform the obligation, for accidents occurring prior to the termination of the contract of insurance of the insurer, and does not assume responsibility for compensation or payment of insurance, did not return the premiums paid.

Insured, by gross negligence, failure to fulfil the obligation, have a serious impact on the occurrence of the insured, the insurer for insurance accident occurring prior to the termination of the contract, does not assume responsibility for compensation or payment of insurance, it shall refund the premium.

Insured at the time of conclusion of the contract already knew the applicant was not informed of the situation and insurer may not terminate the contract of an insured, the insurer shall assume responsibility for compensation or insurance.

Accident insurance refers to the insurance contract within the scope of the incident.

17th enter into an insurance contract, provided by the insurer's standard terms, the insurer providing insurance to the policyholder shall be attached to a standard clause, the insurer shall indicate to the applicant the contents of the contract.

Terms of the insurance contract exempt from liability of the insurer, the insurer shall pay at the time of conclusion of the contract shall be in form, an insurance policy or other insurance certificates to make enough interest for the applicant tips, and the content of the article in written or verbal form to the applicant clearly; without prompting or clear, the provision is not effective.

18th an insurance contract shall contain the following particulars:

(A) the name and address of the insurer;

(B) the name or the name and domicile of the policyholder, the insured, as well as the name or the name and domicile of the beneficiary of the life insurance;

(C) the subject matter of the insurance;

(D) the insurance liability and exemption from liability;

(E) the time period of insurance and the insurance liability commences;

(F) insurance;

(G) the premiums and payments;

(H) the insurance compensation or payment method;

(I) the breach of contract and dispute resolution;

(J) enter into a contract year, month, and day.

The applicant and the insurer may agree with other insurance-related matters. Refers to the life insurance contract by the insured or the applicant specifies the persons entitled to claim.

Applicant, the beneficiary of the insured.

Refers to the amount of insurance the insurer compensation or insurance liability ceiling.

Article 19th insurer with format of the invalid terms of insurance contracts concluded in the following terms:

(A) exempt the insurer's legal obligations of or add to the insured, the insured liability;

(B) exclude an applicant, an insured or a beneficiary's rights according to law.

Article 20th change of the applicant and the insurer may negotiate contract.

Change of insurance contracts, should the insurer in an insurance policy or other insurance certificates endorsed on or affixed to a one, or written agreement made by the policyholder and the insurer changes. 21st insurance policyholder, the insured or the beneficiary when the accident occurred, it shall promptly notify the insurer.

Intentionally or by gross negligence to notify, which insured the nature, cause and extent of the loss is difficult to determine the insurer cannot determine part of, does not assume responsibility for compensation or insurance, but insurers through other channels in time knew or should have known of the occurrence of the insured except.

22nd after the insurance accident, when requested by the insurance contract the insurer compensation or insurance, the insured shall provide to the insurer, the insured or the beneficiary has to offer and the nature of the insurance event, reason, evidence and information relating to the extent of the loss.

The insurer in accordance with the terms of the contract, considered relevant evidence or information is not complete, and shall notify the policyholder, the insured or a beneficiary one-time supplement provides. 23rd the insurer receives the insured or beneficiary of the compensation or payment of insurance upon request should be approved in a timely manner; complex, should be approved at the 30th, except as otherwise stipulated in the contract. Results approved by the insurer shall notify the insured or the beneficiary of the insurance liability, in relation to the insured or the beneficiary compensation or insurance agreements in the 10th after the obligations of compensation or insurance obligation.

Insurance contract have agreed terms for compensation or payment of insurance, the insurer shall, in accordance with agreed compensation or insurance obligation.

The insurer fails to perform the obligations prescribed in the preceding paragraph's, apart from payments, shall compensate for the losses suffered by the insured or the beneficiary.
No unit or individual may illegally interfere insurer compensation or the obligation to pay the insurance, the insured or the beneficiary of the right to benefits shall not be restricted.

24th the insurer in accordance with the provisions of this law 23rd post, not part of the insurance liability, should be made within the approved date of 3rd to the insured or beneficiary refuses letter of indemnity or refuse to pay the insurance, and state the reasons.

Article 25th of insurer's receipt of the compensation or payment of insurance requests and information concerning the certificate, within 60 days of the date, the amount of the compensation or payment of insurance cannot be determined, should be based on the evidence and information to determine the amount to be paid ultimately determine the amount of compensation or payment of insurance of the insurer shall pay the difference.

26th insurance other than life insurance, the insured or a beneficiary, request compensation from the insurer or insurance of the limitation period is two years, knew or should have known of the occurrence of the insured from the date.

Life insurance the insured insurance payment to the insured or the beneficiary request for a limitation period of five years, which he knows or should know the date on which the insurance accident.

Insurance accident article 27th, lied about the accident insurance the insured or the beneficiary, compensation or payment of insurance claims to the insurer, the insurer is entitled to rescind the contract, did not return the premiums paid.

Of the policyholder, the insured deliberately insured, the insurer is entitled to rescind the contract, does not assume responsibility for compensation or payment of insurance; apart from the 43rd article of this law, and does not return the premiums paid.

After the occurrence of the insured, the insured, the insured or a beneficiary to forged or altered information on certificates, or other evidence, fabricating false reasons of accident or overstates the extent of the loss the insurer the hoax part does not assume responsibility for compensation or insurance.

An applicant, an insured or a beneficiary of any of the provisions of the preceding three paragraphs, which insurers cover the cost of insurance premiums or expenditure, it should be returned or compensation.

28th the insurer its insurance business, in the form of reinsurance in part to another insurer, reinsurance.

Should the reinsurance Acceptor requirements Cedant shall be responsible and the circumstances regarding the insurance shall inform the reinsurance acceptor.

29th the reinsurance Acceptor shall be the original insurance policy holders to require payment of premiums.

Original insurance the insured or the beneficiary is allowed to request or payment of insurance compensation for acceptors.

Cedant not reinsurance accept fails to fulfill the insurance liability for the refusal to perform, or delay in performance of its original cover. Article 30th format clause the insurer with the insurance contract, the insurer and the policyholder, the insured or the beneficiary of the terms of the contract dispute, shall be interpreted in accordance with common sense.

To have two or more contract terms explained, the people's Court or an arbitration institution shall, in favour of the insured and the beneficiary to explain.

Section II of the life insurance contract

31st the applicant the following persons have an insurable interest:

(A) himself;

(B) a spouse, child, parent;

(C) the preceding paragraph other than with policy support, maintenance or support of other members of the family, close relatives;

(D) the labor relations with the insured workers.

Except as provided in the preceding paragraph, for which the consent of the insured to enter into a contract, as a policyholder to have an insurable interest in the insured.

When the contract, the insured the insured has no insurable interest, the contract is invalid. 32nd article misstated the age of the insured is not real, and its true age does not meet the age limit stipulated in the contract, the insurer may cancel the contract and return the cash value of the policy as contracted.

Underwriters exercise the right of termination of the contract, this law shall apply to provisions of the 16th paragraph, sixth paragraph.

Misstated the age of the insured, policyholder premiums paid less than the premiums, the insurer has the right to correct and require the insured to pay the insurance premium, or at the time of payment of the insurance benefits in accordance with the premiums actually paid and the premiums paid.

Misstated the age of the insured, policyholder premiums paid is more than the premiums, the insurer shall return overcharged policyholders.

33rd the applicant must not be without insurance against death as life insurance insurance conditions, the insurer or insured. Parents to cover their children's life insurance, are not affected by the provisions of the preceding paragraph.

However, the sum insured death benefit insurance shall not exceed the limit of insurance supervision and Administration Department under the State Council.

Article 34th death as the conditions of insurance contracts, insurance amount without the insured's consent and approval of a contract is invalid.

Under conditions of death as payment of insurance contracts issued by insurance policy without the written consent of the insurer, shall not transfer or pledge.

Parents to cover their children's life insurance, not affected by the provisions of the first paragraph of this article.

35th insured under the contract to the insurer to pay the full premium or installment premiums.

Article 36th staging pays the insurance premium agreed in this contract, the insured after payment of first premiums, unless otherwise stipulated in the contract, the insured person than 30th on the date of publication of the insurer fails to pay the premium for the current period, or within the specified 60 days fails to pay the premium for the current period, contract suspended or reduced the amount of insurance by the insurer in accordance with the contract conditions.

Insured in the insurance accident within the time limit prescribed in the preceding paragraph, the insurer shall, in accordance with the contract to pay the insurance, but you can deduct premiums in arrears. 37th terminating the contract in accordance with article 36th, the insurer and the insured to negotiate and reach agreement, after the policyholders to pay insurance premiums, legal effect of recovery.

However, since the effective date of suspension of the contract two years after the two sides failed to reach an agreement, the insurer has the right to terminate the contract.

Terminate the contract with the insurer in accordance with the provisions of the preceding paragraph, the cash value of the policy shall be returned in accordance with the contract.

Article 38th of insurer's life insurance premiums may not suit demand payment.

39th life insurance beneficiary designated by the insured or the policyholder. When the applicant specifying the beneficiary subject to the consent of the insured.

Policyholders pay for workers with labor life insurance shall not designate persons as the beneficiaries other than the insured or his close relatives.

The insured is without civil capacity or a person with limited civil capacity, can be specified by its guardian beneficiary.

40th the insured or the applicant may designate one or more persons as beneficiaries.

Several beneficiaries, the insured or the applicant may determine the order and benefit from share does not determine the share of beneficiaries by photo share has the right to benefit. 41st the insured or the applicant may change the beneficiary by a written notice to the insurer.

After you change the beneficiary received notice in writing of the insurer, in the insurance policy or other insurance certificates should be endorsed on or attached to endorsements.

Applicant change the beneficiary subject to the consent of the insured.

42nd after the death of the insured, any of the following circumstances, insurance premiums as the estate of the insured, by the insurer in accordance with the People's Republic of China provisions of the succession Act to fulfil the obligation to pay the insurance:

(A) the beneficiary is not specified or specified beneficiary is unknown cannot be determined;

(B) the beneficiary dies before the insured, no other beneficiaries;

(C) law lose or give up the right to benefit from the right to benefit of the beneficiary, no other beneficiaries.

Beneficiaries and the insured died in the same incident, and cannot determine the order of death, beneficiaries of the presumption of death. Article 43rd the applicant deliberately causing the death, injury or sickness of the insured, the insurer shall not assume responsibility for insurance.

The applicant has paid premiums for more than two years, the insurer shall refund the money to other right holders in accordance with the contract cash value of the policy.

Beneficiary intentionally causes the death of the insured, disability, disease, attempted or deliberate killing of the insured, the beneficiary loses right to benefit.

44th with the death of the insured to pay the insurance contract conditions, contract or contract to recover within two years from the date of, the insured, the insurer shall not assume responsibility for payment of insurance, but the suicide of the insured person with no exception.

The insurer in accordance with the provisions of the preceding paragraph shall not pay insurance benefits, the cash value of the policy shall be returned in accordance with the contract. Article 45th insured an intentional crime or resists the criminal enforcement under law led to injury or death, the insurer shall not assume responsibility for insurance.

The applicant has paid premiums for more than two years, the insurer shall refund the cash value of the policy as contracted.

46th insured occurs due to act of a third party death, injury or sickness insurance accident, the insurer after the insurance payment to the insured or the beneficiary, does not enjoy a right of recourse to a third party, but to third parties by the insured or the beneficiary has the right to claim compensation.

47th the applicant terminates the contract, the insurer shall, from the date on which the contract notice is received within 30th, in accordance with the contract to return the cash value of the policy.

Section III property insurance contract

48th insurance when an accident occurs, the insured has no insurable interest of the insured shall not request indemnity from the insurer.

49th transfer of insured, insured's assignee inherit the rights and obligations of the insured.

Transfer of the insured, or the assignee of the insured shall notify the insurer, but otherwise agreed in the insurance contract and the contract of carriage of goods except. Danger resulting from an insured transfers increased significantly, the insurer shall from the date of receipt of the notification provided for in the preceding paragraph in the 30th, you can increase insurance premiums or terminate the contract as agreed upon in the contract.

The insurer terminates the contract, receipt of insurance premiums should be, in accordance with the contract deductions from the date of commencement of the insurance liability until the date of termination of the contract after part of the receivable, and returned to the insured.

Insured, the assignee fails to perform the obligation of notification provided for in the second paragraph of article, insured risk increased significantly due to transfer of an insured accident, the insurer shall not assume responsibility for indemnity.
50th and cargo insurance contract for voyage conveyance contract, after the commencement of the insurance liability, the parties to a contract may terminate the contract.

51st the insured shall comply with the relevant national fire protection, safety, production and labor protection regulations, maintain the safety of the subject-matter insured.

The insurer may in accordance with the contract security conditions of the insured checks promptly to the policyholder, the insured to eliminate insecurity and dangers of written proposals.

The insured, the insured was not in accordance with the contract security the responsibility of its insured, insurer is entitled to increased insurance premiums or terminate the contract.

The insurer to maintain the safety of the subject-matter insured, the insured agrees, you can take precautionary measures. 52nd within the validity period of the contract, significant increase in the insured risk, the insured shall notify the insurer in accordance with the contract, the insurer may increase insurance premiums or terminate the contract as agreed upon in the contract.

The insurer terminates the contract, receipt of insurance premiums should be, in accordance with the contract deductions from the date of commencement of the insurance liability until the date of termination of the contract after part of the receivable, and returned to the insured.

The insured fails to perform the obligation of notification provided for in the preceding paragraph, due to the subject matter of insurance accidents had increased their risk, the insurer does not assume responsibility for indemnity.

53rd under any of the following circumstances, unless otherwise stipulated in the contract, the insurer shall reduce the premium and return the corresponding premium on a daily basis:

(A) to determine the change in circumstances regarding the insurance rates, insurance risk was significantly reduced;

(B) the insured the insured value of the decrease. 54th before the commencement of the insurance liability, the applicant requested the termination of the contract, shall pay the fees under the contract to the insurer, the insurer shall refund the premium.

After the commencement of the insurance liability, the applicant requested the termination of the contract, the insurer shall have received premiums, in accordance with the contract deductions from the date of commencement of the insurance liability until the date of termination of the contract after part of the receivable, and returned to the insured.

55th the applicant and the insurer agreed the insurance value of the subject-matter insured and stated in the contract, insured losses, the insurance value for the calculation of compensation as agreed upon standards.

The insurance value of the insured and the insurer does not specify the subject-matter insured, insured losses to the insured when the accident occurred the real value of the subject-matter insured calculation standard for compensation. The insured amount shall not exceed the insured value.

More than the insured value, the portion is not valid, the insurer shall return the corresponding insurance premium.

Insurance amount is less than the insurance value, unless otherwise stipulated in the contract, the insured amount and assume responsibility for indemnity insurance value.

56th double insurance, the applicant shall inform the insurer of the insurance. Of double insurance, the insurer the sum of indemnity shall not exceed the insured value.

Unless otherwise stipulated in the contract, the insurer the insured amount and proportion of insurance sum amounts assume responsibility for indemnity.

Of double insurance, the insured can be part of the sum insured amount exceeds the insured value, proportionate return premiums paid by all insurers.

Double insurance refers to the insured on the same subject, same interests, the same insured insurance contracts with two or more insurers and the insurance sum insured amount exceeds the insured value.

57th insurance when an accident occurs, the insured shall make every effort to take the necessary measures to prevent or reduce losses.

After the occurrence of the insured, the insured is to prevent or reduce the loss of the subject-matter insured necessary and reasonable expenses incurred, by the insurer insurer costs borne by insured loss amounts calculated separately from, the amount not more than the amount of insurance.

Article 58th partial loss of the insured, within 30th of insurer compensation, the insured person may rescind the contract unless otherwise specified in the contract, the insurer may terminate the contract, but shall notify the insured early 15th.

Termination of the contract, the insurer shall, subject matter of the insurance is not affected by the loss of part of the premium, in accordance with the contract deductions from the date of commencement of the insurance liability until the date of termination of the contract after part of the receivable, and returned to the insured.

59th after the occurrence of the insured, the insurer has paid the full amount, and the insured amount is equal to the insured value, all rights pertaining to the subject matter insured damage insurance insurance amount is less than the insurance value, the insured amount and the insurance value of the right to acquire a damaged part of the subject-matter insured.

60th due to third party damage to the subject-matter insured caused the insured, the insurer since the date of the indemnity to the insured, the amount of compensation within the subrogation right of the insured to the third party requested compensation.

Provisions of the preceding paragraph after the occurrence of the insured, the insured recover damages from a third party, the insurer when the indemnity can be deducted from the insured amount of compensation has been made by a third party.

The insurer in accordance with the provisions of the first paragraph of this article exercise of the right of subrogation for compensation, does not affect the insured is not a partial indemnity to a third party's right to compensation.

61st insurance after the accident, before the insurer without indemnity, the insured gave up on third parties the right to request compensation, the insurer does not assume responsibility for indemnity.

After the insurer indemnity to the insured, the insurer without the insurer's consent to give up the rights to third party requested compensation, the Act is invalid.

The insured person intentionally or due to gross negligence the insurer shall not exercise the right to subrogation for compensation, the insurer may deduct or claim refund of the premium.

62nd unless the insured family members or whose composition intentionally caused the first paragraph of this article 60th insurance cases, the insurer is not allowed for insured family members or whose composition exercise of the right of subrogation for compensation.

63rd insurer when exercising the right of subrogation for compensation to a third party, the insured shall provide the insurer with necessary documents and knows the situation.

64th of the insurer, the insured is to identify and determine the insured property, causes and insurance losses paid by the necessary and reasonable costs, borne by the insurer.

65th insurer for damage caused by the insured to the third party liability insurance, in accordance with the provisions of the law or of the contract directly to the third party indemnity. Damage resulting from the insured to the third party liability insurance, the insured's liability for the third party to determine, according to the request of the insured, the insurer shall report directly to such third party indemnities.

Failing to request of the insured, a third party will be entitled to receive compensation directly from the insurer indemnity insurance.

Liability insurance for damage caused by the insured to third parties, without compensation to the third party of the insured, the insurer may not indemnities to the insured.

Liability insurance refers to the insured's liability for the third subject matter of insurance.

66th liability insurance the insured person for insured for damage caused to third parties by arbitration or litigation, arbitration or litigation of the insured to pay expenses and other necessary and reasonable costs, unless otherwise agreed in the contract, the insurer.

Chapter insurance

67th to establish an insurance company shall be approved by the insurance supervision and Administration Department under the State Council.

State insurance regulatory agencies when reviewing the applications for setting up of an insurance company, should take into account the needs of development and fair competition in the insurance industry.

68th to establish an insurance company subject to the following conditions:

(A) the continued profitability of major shareholders, in good standing, no major violation records in the last three years, with a net worth of not less than 200 million Yuan;

(B) in accordance with this law and the People's Republic of China company law provisions of the articles of Association;

(C) the registered capital is consistent with the provisions of this law;

(D) with professional knowledge and work experience with the directors, supervisors and senior management personnel;

(E) have a sound organizational structure and management system;

(F) to meet the requirements of business premises and other business-related facilities;

(G) laws, administrative regulations and other requirements as prescribed by the insurance regulatory authority under the State Council.

69th to establish an insurance company, the minimum amount of the registered capital of RMB 200 million Yuan.

State insurance regulatory agencies according to the insurance company's business scope and scale, you can adjust the minimum amount of the registered capital, but shall not be less than the limit specified in the first paragraph of this article.

Insurance company registered capital must be paid in cash.

70th application to establish an insurance company, you should apply in writing to the insurance supervision and Administration Department under the State Council, and submit the following materials:

(A) the application for establishment of application, which shall set forth the proposed insurance company name, registered capital, scope of business;

(B) feasibility studies;

(C) construction programme;

(D) the investor's business license, or other background information by an accounting firm on the audit of the annual financial reports;

(E) the investors recognized the preparatory group owner and Chairman, to be appointed Manager list and my endorsement;

(Vi) other material insurance supervision and Administration Department under the State Council. 71st insurance supervision and Administration Department under the State Council an application to establish an insurance company should be reviewed, within six months from the date of acceptance of the approval or the decision not to grant, and notify the applicant in writing.

Decided not to grant, and shall state the reasons in writing.

72nd the applicant shall, within one year from the date of receipt of the grant, complete the preparation; start-up period may engage in insurance activities.

73rd after completion of the preparation, applicants 68th conditions provided for in article v of this law, you can apply for business commencement to the insurance supervision and Administration Department under the State Council. Insurance supervision and Administration Department under the State Council shall, within 60 days from the date of acceptance of applications for approval, the decision to approve or disapprove the opening.

Approved by decision, issuance of permit to operate insurance business; decided not to grant, and shall notify the applicant in writing and state the reasons.

74th insurance companies in the People's Republic of China to set up branches in the territory shall be approved by the insurance supervision and Administration Department.

Insurance company branches do not have legal personality, its civil liability borne by the insurance company.

75th insurance company applying for the establishment of a branch shall apply in writing to the insurance regulatory authority, and submit the following materials:

(A) the application form for the establishment;
(B) the proposed three-year business planning and marketing materials;

(C) the resumes of proposed senior managerial personnel and relevant supporting documents;

(D) other material insurance supervision and Administration Department under the State Council. 76th insurance supervision and Administration Department shall review the application for insurance companies to set up branches, within 60 days from date of acceptance to approve or disapprove of the decision.

Approved by decision, issued the branch carrying on insurance business license decided not to approve, and shall notify the applicant in writing and state the reasons.

77th established upon approval of the insurance company and its affiliates, insurance operators to register with the Administrative Department for industry and commerce business license, business license.

78th insurance company and its subsidiaries obtained insurance business within six months from the date of the license, without a legitimate reason not to register with the Administrative Department for industry and commerce, its insurance business license invalid.

79th insurance companies in the People's Republic of China representative offices of overseas subsidiaries, branches, shall be approved by the insurance supervision and Administration Department under the State Council. 80th foreign insurance institutions in People's Republic of China to establish a representative office in the territory shall be approved by the insurance supervision and Administration Department under the State Council.

Representative offices may engage in insurance activities.

81st insurance company board directors, supervisors and senior management staff, should be of good character, familiar with insurance-related laws, administrative regulations, and management capacity required to perform their duties, and made in the pre-service qualification approved by the insurance supervision and Administration Department.

Scope of the senior managers of insurance companies by the insurance supervision and Administration Department under the State Council.

82nd article of the People's Republic of China article 147th in company or in one of the following circumstances shall not act as directors, supervisors and senior managers of insurance companies:

(A) for violation of law or qualifications of the disciplinary offence was cancelled by the financial regulatory authority of financial institutions of the directors, supervisors and senior managers, from the cancellation date of qualification within the last five years;

(B) for violation of law or discipline is revoked the licensing lawyers, certified public accountants or asset assessment, certification bodies and other bodies of professionals, revoked within less than five years from the date of licensing.

83rd insurance company directors, supervisors and senior managers perform their duties violate laws, administrative regulations or the articles of Association of the company, causes losses to the company, shall assume the liability.

84th insurance company, one of the following circumstances shall be approved by the insurance supervision and Administration Department:

(A) change of name;

(B) changing registered capital;

(C) change of the business premises of the company or a branch;

(D) the withdrawal of branches;

(E) the Division or merger of the company;

(F) amend the company's articles;

(G) change the amount accounted for 5% per cent of total shareholder limited liability company capital, or change the holding company limited shares 5% per cent of the shareholders;

(VIII) other circumstances as stipulated by the insurance supervision and Administration Department under the State Council.

85th insurance company shall employ actuarial professionals recognized by the insurance regulatory authority under the State Council, establish an actuarial reporting system.

An insurance company shall employ professionals, establishing compliance reporting system.

86th insurance company shall, in accordance with the requirements of the insurance regulatory bodies, to submit relevant reports, statements, documents and information.

The solvency of the insurance company reports, financial reports, actuarial reports, compliance reports and other relevant reports, statements, documents and information must be recorded on insurance business matters, without any false record, misleading statements and material omissions.

87th insurance company shall keep in accordance with insurance regulatory authority under the State Council of business activity books, original documents and relevant information.

Books provided for in the preceding paragraph, the original documents and related information period, calculated from the date of termination of the insurance contract, and in less than one year during the period of insurance shall not be less than five years insurance period exceeding one year shall not be less than ten years.

88th insurance companies hire or dismiss accounting firms, appraisal firms, credit rating agencies and other intermediary service organizations should be reported to the insurance supervision and Administration Department; dismiss accounting firms, asset evaluation agencies, credit rating agencies and other intermediaries, it shall explain the reasons.

Article 89th Division, merger be dissolved, or shareholders, shareholder resolution for dissolution of the Assembly, or as specified in the articles of dissolution appears, upon approval by the insurance supervision and Administration Department under the State Council dissolved.

Insurance companies engaged in life insurance business, other than separation, merger or being cancelled out, may not be dissolved.

Dissolution of the insurer, it shall set up a group to liquidate.

90th insurance company of the People's Republic of China on enterprise bankruptcy law as provided in article II, and by the insurance supervision and Administration Department under the State Council, the insurance company or the creditor may apply to a people's court reorganization, settlement or bankruptcy; State insurance regulatory agencies also may apply to a people's Court according to law for the insurance company reorganization or liquidation in bankruptcy.

91st in the estate after liquidation preference bankruptcy expenses and total liabilities, in accordance with the following order of priority:

(A) the salaries owed to workers and medical and disability benefits, pension costs owed should be included in the staff personal accounts for basic old-age insurance, basic medical insurance, as well as legal and administrative regulations shall pay to the worker's compensation;

(B) compensation or insurance;

(C) insurance companies outstanding subject to subsection (a) the provision of social security costs and taxes owed;

(D) ordinary bankruptcy claims.

Bankruptcy property is insufficient to pay off the debts in the same order, in accordance with the proportion.

Bankruptcy insurance company board directors, supervisors and senior management staff salaries, calculated according to the average wages of the employees of the company.

92nd engaged in life insurance business, the insurance company was revoked or declared bankrupt according to law, its holdings of life insurance contracts and liabilities to be transferred to other insurance companies engaged in life insurance business cannot transfer agreements with other insurance companies, specified by the insurance supervision and Administration Department under the State Council engaged in life insurance business insurance companies accept transfers.

Transfer or specified by the insurance supervision and Administration Department under the State Council to accept transfer of the provisions of the preceding paragraph the life insurance contracts and liabilities, shall safeguard the legitimate rights and interests of the insured, beneficiary.

93rd insurance company terminated its business activities according to law, should cancel its permit to operate insurance business.

94th insurance company, unless otherwise provided herein, apply the People's Republic of China company law provisions.

The fourth chapter insurance operation rules

95th of an insurance company's business scope:

(A) life insurance business, including life insurance, health insurance, accident insurance and other insurance business;

(B) property insurance, including property insurance, liability insurance, credit insurance, guarantee insurance and other insurance business;

(C) approved by the insurance supervision and Administration Department under the State Council and other insurance-related business. The insurer shall not concurrently engaged in life insurance business and property and casualty insurance business.

However, the business of property and casualty insurance company approved by the insurance supervision and Administration Department under the State Council, could run a short-term health insurance and accident insurance.

An insurance company shall in the insurance supervision and Administration Department under the State Council shall operate within the approved scope of business engaged in insurance activities.

96th by the insurance supervision and Administration Department under the State Council approved, insurance companies can operate to section 95th provides the following reinsurance business of insurance business:

(A) the separation of insurance;

(Ii) the insurance.

97th of the total registered capital of an insurance company shall, in accordance with its 20% extracting deposits, deposit insurance supervision and Administration Department under the State Council designated banks, except for liquidation for the satisfaction of debts, it shall not be used.

98th of an insurance company shall be under the protection of the insured benefits, ensure the solvency principles, extract the reserves.

Extraction and carry-over reserves of insurance companies and the specific measures shall be formulated by the insurance supervision and regulatory bodies.

99th insurance companies should be run according to law.

100th of an insurance company shall pay the insurance fund.

Insurance guarantee funds should be centrally managed, and to coordinate the use under the following circumstances:

(A) when the insurance company was revoked or declared bankrupt, and provided relief to the policyholder, the insured or the beneficiary;

(B) when the insurance company was revoked or declared bankrupt, provide relief to insurance companies shall be subject to the insurance contract;

(C) other circumstances as stipulated by the State Council.

Insurance Fund collection, management and use of the specific measures formulated by the State Council. 101th insurance company shall have the size of its business and risk-commensurate level of minimum solvency.

Recognized by insurers of recognized assets minus liabilities balance shall not be less than the amount specified in the insurance regulatory authority under the State Council; less than the prescribed amount, requested by the insurance supervision and Administration Department under the State Council should take corresponding measures to meet the stipulated amount.

102th insurance company engaged in property and casualty insurance business the year premiums shall not exceed four times times the capital sum plus Provident Fund.

103th insurance company for each risk unit, which may be caused by an insured loss scope of responsibilities, capital plus Provident Fund shall not exceed the sum of 10% over part of should be re-insured.

Insurance units of classification shall comply with the insurance regulatory authority under the State Council.

104th Division of insurance the risk unit and catastrophe risk arrangements, insurance supervision and Administration Department shall be submitted to the State Council for the record.

105th insurance company shall in accordance with the provisions of reinsurance of the insurance supervision and Administration Department under the State Council, and carefully select the reinsurance acceptor.

106th insurance company funds in a conservative, follows the security principle.

Utilization of insurance funds is limited to the following:

(A) bank deposits;

(B) the sale of bonds, stocks, shares and other securities by securities investment funds;

(C) investment in immovable property;

(D) the other provisions of the State Council funds application forms.
Specific measures for the administration of the funds of insurance companies shall be formulated by the insurance supervision and administration in accordance with the provisions of the preceding two paragraphs.

107th by the insurance supervision and Administration Department under the State Council in conjunction with the approval of the securities regulatory authority under the State Council, the insurance company can set up insurance asset management companies.

Insurance asset managers invest in securities activities shall abide by the People's Republic of China provisions of securities law and other laws and administrative regulations.

Management of insurance asset management companies shall be formulated by the insurance supervision and administration, in conjunction with the relevant departments under the State Council.

108th insurance company shall in accordance with the insurance regulatory authority under the State Council established the management and system of information disclosure of related party transactions.

109th insurance companies controlling shareholders and actual controllers, directors, supervisors and senior management officers shall not use related party transactions damage the interests of the company.

110th insurance company shall in accordance with the insurance regulatory authority under the State Council, is true, accurate and complete disclosure of financial accounting reports, risk management, business insurance products and other major matters.

111th insurance companies engaged in insurance sales personnel shall comply with the eligibility criteria under the insurance regulatory authority under the State Council, obtained qualification certificates issued by the insurance regulatory authority.

Prescribed in the preceding paragraph the scope of insurance sales and management practices, by the insurance supervision and Administration Department under the State Council.

112th insurance company insurance agents registration system should be established, strengthened training for insurance agents and management shall not solicit, induce the activity of insurance agents for breach of fiduciary duty.

113th insurance company and its affiliates shall, to carry on insurance business license may not be transferred, leased, lent to carry on insurance business license.

114th insurance company shall in accordance with the insurance regulatory authority under the State Council, fair and reasonable development of insurance clauses and insurance rates, shall be without prejudice to the legitimate rights and interests of policyholders, insured persons and beneficiaries.

Insurance companies shall be in accordance with the contract and the provisions of this law, obligations of compensation or insurance obligation in a timely manner.

115th operating an insurance company shall follow the principle of fair competition, not to engage in unfair competition.

116th in the insurance business activities of an insurance company and its staff shall not commit any of the following acts:

(A) the cheating policy holder, the insured or the beneficiary;

(B) the insured conceals important information relating to the insurance contract;

(C) impede the applicant to fulfil the provisions of this law of the obligation, or induced by its failure to comply with provisions of this law, the obligation;

(D) given or promised to the policyholder, the insured, beneficiary premium rebates or other interests outside of the insurance contract;

(E) compensation for refusing to perform the insurance contract or payment of insurance obligations;

(Vi) intentionally never took place, the fictitious insurance of an insured accident contracts or deliberately exaggerating the insured damage has occurred to make false claims, insurance payments or seek any other illegitimate benefits fraudulently;

(G) misappropriation, interception, misappropriation of premiums;

(VIII) delegate agencies or individuals without legal qualifications to engage in insurance activities;

(I) the insurance operations for other agencies or individuals seeking improper interests;

(J) the insurance agent, insurance broker or the insurance rating agencies, based on fictitious insurance brokerage or fabricate surrender cash by way of fees and other illegal activities;

(11) by fabricating and spreading false facts or other means to damage a competitor's business reputation, or otherwise disturb the market order acts of unfair competition;

(12) disclosure in business activity known to the insured, the insured's trade secrets;

(13) violation of laws, administrative regulations and other behaviors of the insurance supervision and Administration Department under the State Council.

The fifth chapter insurance agents and insurance brokers

117th insurance agent is based on the insurer's delegate, Commission to the insurer, and within the scope authorized by the insurers Transact insurance business on behalf of an institution or individual.

Insurance agencies, including specialized insurance brokerage insurance agency and run insurance agency business for concurrent-business insurance agencies.

118th insurance brokers are based on the interests of policy holders, for the applicant enters into an insurance contract with the insurer to provide intermediary services, and institutions of Law Commission.

119th insurance agencies, insurance brokers shall satisfy the conditions of the insurance supervision and Administration Department under the State Council, made insurance regulatory authority insurance agent license, insurance broker license.

Insurance agent, insurance broker licence from the insurance regulatory authority to register with the Administrative Department for industry and commerce to obtain business licenses.

Concurrent-business insurance agencies by licence from the insurance regulatory authority, to the industrial and commercial administrative organs for registration of changes.

120th company set up as insurance agents, insurance brokers, the minimum amount of the registered capital of the application of the People's Republic of China company law provisions.

State insurance regulatory agencies according to the insurance agency and insurance broker's business scope and scale, you can adjust the minimum amount of the registered capital, but shall not be less than the People's Republic of China Act limits.

Insurance agent, insurance broker registered capital or capital contribution must be paid in cash.

121th insurance agent, insurance broker, senior managers, should be of good character, familiar with insurance laws, administrative rules and regulations and have management capabilities required to perform their duties, and made in the pre-service qualification approved by the insurance supervision and Administration Department.

122th an individual insurance agents and insurance agents agent practitioners in China, insurance broker broker shall meet the eligibility criteria under the insurance regulatory authority under the State Council, obtained qualification certificates issued by the insurance regulatory authority.

123th insurance agency, an insurance broker shall have his place of business, set up special account books record insurance agency business, income and expenses for the brokerage business. 124th insurance agents and insurance brokers should be paid in accordance with insurance regulatory authority under the State Council bond or insurance against professional liability insurance.

Without approval of the insurance supervision and Administration Department, insurance agent, insurance broker shall not use margin.

125th Transact life insurance business on behalf of an individual insurance agents, the delegate shall not accept more than two insurers.

126th commissioned insurance agents insurance business on behalf of the insurer shall be agency agreement with the insurance agent, the law stipulated the rights and obligations of the parties.

127th insurance agent to the insurer authorized to Transact insurance business on behalf of the Act, the insurer shall assume the responsibilities. Insurance agent without authority, beyond the agent or on behalf of the insurer after termination of agency contract, the applicant has reason to believe that the Agency, the Agency effectively.

Insurers can unauthorized insurance agent responsibilities shall be affixed.

128th insurance broker for fault causes losses to the policyholder, the insured shall bear liability.

129th insurance activities parties may authorize insurance assessment institutions established by law, such as the independent assessment agencies or persons with relevant expertise, appraisal and evaluation of the insured.

Entrusted to the insured risk assessment and identification of the bodies and persons, according to law, independent, objective and impartial evaluation and identification, no unit or individual shall interfere.

Institutions and personnel provided for in the preceding paragraph, wilfully or negligently causes losses to the insured or the insured shall bear liability.

130th Insurance Commission limited to ineligible for insurance agents and insurance brokers to pay shall not be paid to others.

131th insurance agents, insurance brokers and its employees shall not Transact insurance business activities have the following behavior:

(A) deception of the insurer and the insured, the insured or the beneficiary;

(B) concealing important information relating to the insurance contract;

(C) impede the applicant to fulfil the provisions of this law of the obligation, or induced by its failure to comply with provisions of this law, the obligation;

(D) given or promised to the policyholder, the insured or the beneficiary interests other than stipulated in the insurance contract;

(E) the use of administrative power, position or career facilitation, and other illegal means to force, induce or restrict the insured enters into an insurance contract;

(Vi) falsification, modification of the insurance contract, or provide false documents for the parties to an insurance contract;

(G) misappropriation, interception, misappropriation of the premium or premiums;

(H) use of business facilities for other institutions or individuals seeking improper interests;

(I) the collusion with the applicant, the insured or a beneficiary defrauds;

(J) disclosure in business activity known to the insurer, the insured, the insured's trade secrets.

132th insurance agencies, insurance brokers split, merger, change of organizational forms, establishment of branches or dissolution shall be approved by the insurance supervision and Administration Department.

133th 86th, 113th in the first paragraph of this law provides that apply to insurance agents and insurance brokers.

The sixth chapter insurance regulatory

134th insurance regulatory authority in accordance with this law and the regulations of the State Council's responsibilities, follow the law, the principles of openness, fairness, exercise supervision over the insurance management, maintaining the order of insurance market, protect the legitimate rights and interests of policyholders, insured persons and beneficiaries.

135th insurance supervision and Administration Department under the State Council in accordance with the laws and administrative regulations formulated and promulgated regulations on supervision and administration of the insurance industry. 136th social public interest insurance, compulsory insurance by law the insurance and the new development of life insurance and other insurance clauses and insurance rates, insurance supervision and Administration Department shall be submitted to the State Council for approval. Insurance supervision and Administration Department under the State Council for approval, should follow the principle of protecting the public interest and the prevention of unfair competition.

Other insurance clauses and insurance rates, shall be submitted to insurance supervision and Administration Department for record.
Insurance clauses and premium rates for approval and record the specific measures shall be formulated by the insurance supervision and administration in accordance with the provisions of the preceding paragraph.

137th insurance companies use insurance clauses and insurance rates of violation of laws, administrative regulations, or the relevant provisions of the insurance supervision and Administration Department under the State Council, and by the insurance supervision and Administration Department shall be ordered to stop using, modifying the deadline are serious, you can prohibit reporting within a certain period of insurance clauses and insurance rates.

138th insurance supervision and Administration Department under the State Council shall establish a comprehensive insurance solvency regulation system, impose monitoring on the solvency of insurance companies.

139th on the solvency of insurance companies and State insurance regulatory agencies should be listed as key object, and can be tailored to specific situations, the following measures:

(A) ordered to the capital increase, the required insurance;

(B) limiting the scope of business;

(C) limiting dividends to shareholders;

(D) limit the scale of fixed asset acquisitions or operating expenses;

(E) restrictions on the use of forms and proportions;

(Vi) restrict additional branches;

(G) order the auction of bad assets, the transfer of insurance business;

(H) limit the remuneration of Directors, supervisors and senior management staff levels;

(I) restrictions on commercial advertising;

(X) shall be ordered to stop accepting new business.

140th of an insurance company fails to comply with the provisions of this law to draw or carry down various reserves, or not in accordance with the provisions of this law, re-insured or serious violations of the provisions of this law on the use of funds, the insurance supervision and Administration Department shall order correction within, and can be ordered to adjust the head and managers.

141th insurance regulatory authority in accordance with this law 140th section after the decision taken within a time limit of, the insurance company fails to mend, insurance supervision and Administration Department under the State Council may decide to send insurance professionals and specifies the composition of the insurance company consolidation group, the reorganization of the company.

Rectify the decision shall set forth the reorganized company's name, reason for consolidation, reorganization of group members and the consolidation period, and shall be published. 142th overhaul group the right to supervise the day-to-day operations of the reorganized insurance company.

Reorganized the company's owner and management personnel should be in the consolidation group under the supervision of the exercise of authority. 143th reorganization process, the original business of the reorganized insurance company continues.

However, the insurance supervision and Administration Department under the State Council may order the reorganized company to stop some of the existing business, stopped accepting new business, adjusting the funds.

144th upon reorganization of the reorganized insurance company was to correct the acts in violation of the provisions of this law, returned to normal operating conditions, by the reorganization group report, approved by the insurance supervision and Administration Department under the State Council, concluded reorganization, and shall be formulated by the insurance supervision and Administration Department shall be published.

145th insurance company, one of the following circumstances, you can take over the insurance regulatory authority under the State Council:

(A) the serious inadequacy of the solvency of the company;

(B) violations of the provisions of this law, infringe upon the public interests, may seriously threaten or has endangered the solvency of the company.

Was taken over by the insurance company of the debtor-creditor relationship does not change because of the take-over.

146th over composition of the force and the take-over procedures shall be formulated by the insurance supervision and Administration Department decision, and shall be published.

147th article the term expires, State insurance supervision and Administration Department may decide to extend the term, but the term shall not exceed two years.

148th the term expired, was taken over by insurance companies have resumed normal operations, taken over by the insurance supervision and Administration Department under the State Council's decision to end, and make an announcement.

149th reorganized, was taken over by insurance companies in the People's Republic of China on enterprise bankruptcy law as provided in article II, State insurance supervision authority may apply to a people's Court according to law for the insurance company reorganization or liquidation in bankruptcy.

150th of an insurance company was revoked because of illegal business to carry on insurance business license, or a solvency below the standards prescribed by the insurance supervision and Administration Department under the State Council, it did not seriously endanger the insurance market order, damage public interests shall be formulated by the insurance supervision and Administration Department shall be revoked and announcements, timely liquidation liquidation according to law.

151th insurance supervision and Administration Department under the State Council has the right to require insurance companies to shareholders and actual controllers within the time limit specified by the provision of relevant information and data. 152th insurance company shareholders by interrelated transaction seriously harm the company's interests, threatening the solvency of the company shall be formulated by the insurance supervision and Administration Department shall be ordered to correct.

In accordance with the requirements before the correction, insurance supervision and Administration Department under the State Council may restrict the shareholder rights; it refuses, it may order the transfer of its equity held by insurance companies.

153th articles under the insurance regulatory authority required to perform functions of supervision, and insurance company directors, supervisors and talk to senior managers supervise and administer, require the company's business activities and a description of the major issues of risk management.

154th insurance company during the reorganization, takeover, and withdraw the liquidation, or when there is a significant risk, insurance supervision and Administration Department under the State Council may be directly responsible for the company's directors, supervisors and senior management staff and other persons to undertake the following measures:

(A) notified the authorities in accordance with law to prevent their exit;

(B) apply for a judicial organ to prohibit their transfer, assign or otherwise dispose of property, set in the property or other rights.

155th insurance supervision and Administration Department shall perform their duties, you can take the following measures:

(A) to insurance companies, insurance agents, insurance brokers and insurance asset management companies, foreign insurance institutions to conduct an on-site inspection;

(B) suspected violations site investigation and evidence gathering;

(C) asking the parties and events under investigation related to the units and individuals requesting clarification on matters relevant to the case under investigation;

(D) inspect, copy and property registration and other information relating to the case under investigation;

(E) read, copy, insurance company, insurance agent, insurance broker, insurance and asset management companies, foreign insurance institutions on behalf of institutions, as well as relevant to the case under investigation units and personal financial information and other relevant documents and information may be transferred to be sealed, concealment or destruction of documents and information;

(Vi) for allegedly illegal business of insurance companies, insurance agents, insurance brokers and insurance asset management companies, representative offices of foreign insurance institutions and units relating to the alleged offence and the personal bank account;

(G) there is evidence that transfer has been or may be, hiding illicit funds in connection with the property, or concealing, forging or destroying important evidence, approved by the Chief insurance regulatory authority, request the people's Court to freeze or shut down.

Insurance regulatory agencies in the preceding paragraph (a), (b) and (e) of the measures should be approved by the insurance supervision and Administration Department head of; (vi) measures the shall be approved by the head of the insurance supervision and Administration Department under the State Council.

Insurance supervision and Administration Department shall supervise and examination or investigation, supervision and inspection, investigation shall be at least two people and should produce valid documents notice of inspection, investigation and supervision; supervision, the investigation officer less than two people or failing to show proper identification and a notice of inspection, investigation, inspection, investigation units and individuals have the right to refuse.

156th insurance supervision and Administration Department shall perform their duties, by inspection, investigation units and individuals shall coordinate with the.

157th insurance regulatory agency staff should be devoted to their duties, in accordance with the law, impartiality and integrity, must not use the virtue of seeking illegitimate interests, shall not disclose confidential the business secrets of the units and individuals.

158th State insurance regulatory agencies should be with people's Bank of China, other financial regulatory authority under the State Council to establish regulatory mechanisms for information sharing.

Insurance supervision and Administration Department shall perform their duties, when conducting supervision and inspection, investigation, shall cooperate with the relevant departments.

The seventh chapter legal liability

159th in violation of the provisions of this law, any establishment of the insurance company or insurance asset management company or operating a commercial insurance business, by the insurance supervision and Administration Department shall be banned, confiscated and illegal gains more than 1 time fined not more than five times; no illegal income or the illegal income is less than 200,000 yuan, fined not more than between 1 million Yuan and 200,000 yuan.

160th article violation this method provides, unauthorized established insurance professional agent institutions, and insurance brokers, or not made business insurance agent business license, and insurance brokers business license engaged in insurance agent business, and insurance brokers business of, by insurance supervision management institutions be banned, confiscated illegal proceeds, and at illegal proceeds 1 time times above five times times following of fine; no illegal proceeds or illegal proceeds insufficient 50,000 yuan of, at 50,000 yuan above 300,000 yuan following of fine. 161th an insurance company violates this law, beyond the approved scope of business operations, by the insurance supervision and Administration Department shall be ordered to rectify, confiscate the illegal income and illegal gains more than 1 time fined not more than five times; no illegal income or the illegal income is less than 100,000 yuan, less than 100,000 yuan and 500,000 yuan in fines.

Fails or serious consequences, closed for rectification or revoke business licenses.

162th one of the insurance companies 116th provisions of this law, by the insurance supervision and Administration Department shall order correction, fines of between 50,000 yuan and 300,000 yuan in serious cases, limit the scope of its business, is ordered to stop accepting new business or revoke their business licenses.

163th 84th provisions of an insurance company in violation of the law, by the insurance supervision and Administration Department shall order correction, fines of between 10,000 yuan and 100,000 yuan.

164th insurance company violations of the provisions of this law, any of the following acts, by the insurance supervision and Administration Department shall order correction, fines of between 50,000 yuan and 300,000 Yuan:

(A) the excess coverage, serious;

(B) without insurance with death insurance for payment of insurance conditions.
165th in violation of the provisions of this law, any of the following acts, by the insurance supervision and Administration Department shall order correction, fines of between 50,000 yuan and 300,000 yuan in serious cases, may limit the scope of business, shall be ordered to stop accepting new business or revoke business licenses:

(A) failing to deposit bond or break the rules to use margin;

(B) fails to draw or carry down various reserves;

(C) fails to pay the insurance guarantee fund or Provident Fund;

(D) is not in accordance with the provisions of reinsurance;

(V) not in accordance with the provisions of insurance funds;

(F) to set up branches or representative offices without approval;

(VII) failing to apply for approved insurance clauses and insurance rates.

166th insurance agencies, insurance brokers has one of the 131th provisions of this law, by the insurance supervision and Administration Department shall order correction, fines of between 50,000 yuan and 300,000 yuan in serious cases, suspension of business licenses.

Insurance agent, insurance broker of 167th article violates the provisions of this law, any of the following acts, by the insurance supervision and Administration Department shall order correction, fines of less than 20,000 yuan and 100,000 yuan in serious cases, closed for rectification or revoke business licenses:

(A) failing to deposit bond or insurance against professional liability insurance;

(B) failing to set up a special account books record business income and expenses.

168th insurance agency, insurance broker in violation of this law, without approval to set up branches or change the Organization, by the insurance supervision and Administration Department shall order rectification, the fines of between 50,000 yuan and 10,000 yuan.

169th in violation of the provisions of this law, appointment without qualification, qualification of personnel, and by the insurance supervision and Administration Department shall order correction, fines of less than 20,000 yuan and 100,000 yuan.

170th in violation of the provisions of this law, transfer, lease, or lending business license by the insurance regulatory authority fined not more than between 100,000 yuan and 10,000 yuan in serious cases, closed for rectification or revoke business licenses.

171th in violation of the provisions of this law, any of the following acts, by the insurance supervision and Administration Department shall be ordered to rectify; fails, between 100,000 yuan and 10,000 yuan the following fines:

(A) failing to submit or maintain reports, statements, documents, information, or failing to provide relevant information and materials;

(B) failing to submit insurance clauses and insurance rates for the record;

(Iii) it fails to require the disclosure of information.

172th in violation of the provisions of this law, any of the following acts, by the insurance supervision and Administration Department shall order correction, fines of between 100,000 yuan and 500,000 yuan in serious cases, may limit the scope of business, shall be ordered to stop accepting new business or revoke business licenses:

(A) the preparation of reports, statements, documents, or provide false information;

(B) refuse or obstruct the supervision and inspection;

(C) is not used in accordance with the provisions of the approval or for the record the insurance clauses and insurance rates.

173th article insurance company, and insurance assets management company, and insurance professional agent institutions, and insurance brokers violation this method provides of, insurance supervision management institutions except respectively in accordance with this method 161th article to 172th article of provides on the units give punishment outside, on its directly is responsible for of competent personnel and other directly responsibility personnel give warning, and at 10,000 yuan above 100,000 yuan following of fine; plot serious of, revoked served qualification or practitioners qualification.

Provisions of 174th individual insurance agents in violation of the law, by the insurance supervision and Administration Department in a warning, and may be fined not more than 20,000 yuan in serious cases, fines of less than 20,000 yuan and 100,000 yuan, and their certificates were revoked.

Without legal qualifications of the personnel engaged in the activities of the individual insurance agent by the insurance supervision and administration department granting warned, may be fined not more than 20,000 yuan in serious cases, fines of less than 20,000 yuan and 100,000 yuan.

175th foreign insurance institutions without approval of the State insurance regulatory agencies without authorization in the People's Republic of China to establish a representative office in the territory shall be formulated by the insurance supervision and Administration Department shall be banned, fines of between 50,000 yuan and 300,000 yuan.

Foreign insurance institutions in People's Republic of China territory established of representative institutions engaged in insurance business activities of, by insurance supervision management institutions ordered corrected, confiscated illegal proceeds, and at illegal proceeds 1 time times above five times times following of fine; no illegal proceeds or illegal proceeds insufficient 200,000 yuan of, at 200,000 yuan above 1 million Yuan following of fine; on its Chief can ordered replaced; plot serious of, revoked its representative institutions.

176th policyholder, the insured or the beneficiary of any of the following acts, insurance fraud, and does not constitute a crime, he shall be subject to administrative penalties:

(A) the insured person deliberately falsifying the subject matter of the insurance defraud;

(B) make up have been insured, or fabricate the cause of the accident or overstates the extent of the loss to defraud;

(C) intentionally causing the insured defrauds.

Insurance experts, assessment of the accident, witness who intentionally provide false documentation, for an applicant, an insured or a beneficiary to provide the conditions of insurance fraud, in accordance with the provisions of the preceding paragraph shall be punished.

177th in violation of the provisions of this law, causing damage to others shall bear civil liability.

178th refuses or obstructs the insurance regulatory bodies and their staff shall exercise supervision and inspection, the terms of reference, does not use or threat of violence, shall be subject to administrative penalties for public security.

179th in violation of provisions of laws and administrative regulations, the circumstances are serious, insurance supervision and Administration Department under the State Council can prohibit the persons concerned until a certain period a lifetime into the insurance sector.

180th insurance regulatory agency engaged in supervision and management work of any of the following circumstances shall be given disciplinary action:

(A) in violation of regulations, approved bodies established;

(B) approval of insurance clauses and insurance rates of the contravention;

(C) conducting on-site inspections in violation of regulations;

(Iv) violation query accounts or freezing of funds;

(E) disclose its knowledge of the business secrets of the units and individuals;

(F) violation of rules impose administrative penalties;

(VII) other acts of abuse their powers, neglect their duties.

181th in violation of the provisions of this law, to constitute a crime, criminal responsibility shall be investigated according to law.

The eighth chapter by-laws 182th insurance company shall join the insurance industry association.

Insurance agent, insurance broker, insurance assessment institutions can join the insurance industry association.

Insurance industry association is a self-regulatory organization in the insurance industry, is a corporate social groups.

183th insurance company established by law other than the insurance business insurance business, this law shall apply.

184th marine insurance application of the People's Republic of China Maritime Code provisions; People's Republic of China maritime law does not specify, the relevant provisions of this law shall be applicable.

185th Sino-foreign insurance companies, foreign-owned insurance companies, branch of a foreign insurance company shall be governed by provisions; otherwise stipulated by laws, administrative regulations, to apply its provisions. 186th State supports the development of agricultural production and services of insurance undertakings.

Agricultural insurance imposed by the laws and administrative regulations to be promulgated separately.

Compulsory insurance, otherwise stipulated by laws, administrative regulations, to apply its provisions. 187th article this law shall enter into force on October 1, 2009.

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