The content of Article 42 of the 2009 version of the Insurance law of the People’s Republic of China (Insurance Law) is very similar to the content of Article 63 of the 2002 Insurance Law. However, Article 42 of the 2009 version of China’s Insurance Law adds a new clause that makes it clear that if the insured and the insured’s life insurance policy beneficiary die at the same time and it is not possible to determine which one died first then the beneficiary will be deemed to have died first.
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Posted in China's Insurance Law, The 2009 Amendments to the Insurance Law.
Tagged with 2009 Amendments to the Insurance Law of the People's Republic of China, China, China Insurance Law, China Insurance Regulatory Commission, Chinese insurance, CIRC, insurance, Insurance Law, life insurance, National People's Congress Standing Committee, NPCSC, People's Republic of China, PRC, PRC Insurance Law.
By Kirby
– August 21, 2011
The content of Article 41 of the 2009 version of the Insurance law of the People’s Republic of China (Insurance Law) is very similar to the content of Article 63 of the 2002 Insurance Law. The first clause of Article 41 of the PRC Insurance Law and Article 63 of the 2002 China Insurance Law is exactly the same, however, the second clause in each of them is completely different.
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Posted in China's Insurance Law, The 2009 Amendments to the Insurance Law.
Tagged with 2009 Amendments to the Insurance Law of the People's Republic of China, beneficiary, China, China Insurance Law, China Insurance Regulatory Commission, Chinese insurance, CIRC, insurance, Insurance Law, life insurance, National People's Congress Standing Committee, NPCSC, People's Republic of China, PRC, PRC Insurance Law.
By Kirby
– August 9, 2011
The content of Article 39 of the 2009 version of the Insurance law of the People’s Republic of China (Insurance Law) is very similar to the content of Article 61 of the 2002 Insurance Law. In general the concepts carried across in each article are the same, if a person’s life is insured by someone other than him or she then the policy applicant must get that person’s permission to insure that individual’s life.
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Posted in China's Insurance Law, The 2009 Amendments to the Insurance Law.
Tagged with 2009 Amendments to the Insurance Law of the People's Republic of China, beneficiary, China, China Insurance Law, China Insurance Regulatory Commission, CIRC, civil capacity, coal baron, employee, employer, employer purchased life insurance, insurance, Insurance Law, insured, insurer, life insurance, mine safety, National People's Congress Standing Committee, NPCSC, People's Republic of China, policyholder, PRC, PRC Insurance Law, risk.
By Kirby
– August 6, 2011
The content of Article 37 of the 2009 version of the Insurance law of the People’s Republic of China (Insurance Law) is very similar to the content of Article 59 of the 2002 Insurance Law. The main difference between the two articles is that Article 37 removed the requirement that a policyholder had to have paid an insurance policy’s premium for, at least, two years to be eligible to receive the cash value of the insurance policy.
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Posted in Uncategorized.
Tagged with 2009 Amendments to the Insurance Law of the People's Republic of China, China, China Insurance Law, China Insurance Regulatory Commission, Chinese insurance, CIRC, insurance, Insurance Law, National People's Congress Standing Committee, NPCSC, People's Republic of China, PRC, PRC Insurance Law.
By Kirby
– August 2, 2011
The content of Article 36 of the 2009 version of the Insurance law of the People’s Republic of China (Insurance Law) is very similar to the content of Article 58 of the 2002 Insurance Law. Article 36 still establishes that if a policyholder fails to make a premium payment within 60 days of that payment being due then the policy will be suspended or the insured amount will be reduced to reflect the fact that the premium has not been paid.
Continued…
Posted in China's Insurance Law, The 2009 Amendments to the Insurance Law.
Tagged with 2009 Amendments to the Insurance Law of the People's Republic of China, China, China Insurance Law, China Insurance Regulatory Commission, Chinese insurance, CIRC, insurance, Insurance Law, National People's Congress Standing Committee, NPCSC, People's Republic of China, PRC, PRC Insurance Law.
By Kirby
– July 27, 2011
The content of Article 35 of the 2009 version of the Insurance law of the People’s Republic of China (Insurance Law) is very similar to the content of Article 57 of the 2002 Insurance Law. The main difference between the two is the fact that Article 57 makes it clear that when an insurance contract allows for premiums to be paid in installments the first installment must be paid when the insurance contract signed by the policy applicant. However, the new version of the insurance law does not clearly impose the same standard. The only mention of how installment payments must be handled in the 2009 version of China’s Insurance Law is in Article 36 when it says that premium installment payments must be made in accordance with the insurance contract, after the initial premium is paid. However, Article 36 does not clearly establish that an initial premium payment must be made when the insurance contract is signed.
Continued…
Posted in China's Insurance Law, The 2009 Amendments to the Insurance Law.
Tagged with 2009 Amendments to the Insurance Law of the People's Republic of China, China, China Insurance Law, China Insurance Regulatory Commission, Chinese insurance, CIRC, insurance, Insurance Law, insurer, life insurance, National People's Congress Standing Committee, NPCSC, People's Republic of China, property insurance.
By Kirby
– July 26, 2011
The content of Article 34 of the 2009 verison of the Insurance law of the People’s Republic of China (Insurance Law) is very similar to the content of Article 56 of the 2002 version of the Insurance Law.
In fact, the only real difference is that Article 56 of the 2002 PRC Insurance Law establishes that when a policyholder insures person’s life the policy holder must obtain the person’s written consent for the policyholder to insure his or her life.
Continued…
Posted in China's Insurance Law, The 2009 Amendments to the Insurance Law.
Tagged with 2009 Amendments to the Insurance Law of the People's Republic of China, China, China Insurance Law, Chinese insurance, insurable interest, insurance, Insurance Law, insurer, life insurance, National People's Congress Standing Committee, NPCSC, PRC, PRC Insurance Law, property insurance.
By Kirby
– July 23, 2011
The content of Article 12 of the 2009 version of the Insurance law of the People’s Republic of China (Insurance Law) is very similar to the content of Articles 33 and 52 of the 2002 version of the Insurance Law.
Continued…
Posted in China's Insurance Law, The 2009 Amendments to the Insurance Law.
Tagged with 2009 Amendments to the Insurance Law of the People's Republic of China, China, China Insurance Law, China Insurance Regulatory Commission, Chinese insurance, CIRC, insurance, Insurance Law, insurer, life insurance, National People's Congress Standing Committee, NPCSC, People's Republic of China, PRC, property insurance.
By Kirby
– July 20, 2011
On July 1st, the new Social Insurance Law of the People’s Republic of China (Social Insurance Law) was implemented. For the first time in the history China, the National People’s Congress Standing Committee (NPCSC) decided to implement the Social Insurance Law in a way that allowed expatriates working in China to participate in China’s Social Insurance scheme.
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Posted in Chinese Insurance News, Chinese Legal Issues.
Tagged with China, China Insurance Law, China Social Insurance Law, Chinese insurance, Draft Interim Rules on Expatriates Participating in Social Insurance while Working in China, employee, employer, Expat Coverage, Expatriate, Expatriates included, health insurance, Insurance Law, maternity insurance, National People's Congress Standing Committee, NPCSC, pension insurance, People's Republic of China, PRC, PRC Insurance Law, Social Insurance Law of the People's Republic of China, unemployment insurance, worker's compensation insurance.
By Kirby
– July 19, 2011
The content of Article 23 of the 2009 version of the Insurance law of the People’s Republic of China (Insurance Law) is similar to the content of Article 24 of the 2002 version of the Insurance Law.
However, the 2009 version adds a provision that makes it clear that even if the circumstances are complex the insurer is expected to make a claim determination with 30 days of receiving a claim and the evidence supporting it. An interesting aspect of this 30 day requirement is that it specifically applies to what the NPCSC considers to be complex cases, therefore, by reference we can infer that CIRC expects everyday claims to be adjudicated in under 30 days.
Continued…
Posted in China's Insurance Law, The 2009 Amendments to the Insurance Law.
Tagged with 2009 Amendments to the Insurance Law of the People's Republic of China, China, China Insurance Law, China Insurance Regulatory Commission, Chinese insurance, CIRC, insurance, Insurance Law, life insurance, National People's Congress Standing Committee, NPCSC, PRC, PRC Insurance Law, property insurance.
By Kirby
– July 17, 2011
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