Commercial General Liability insurance (“CGL”) is one of the most widely used forms of commercial liability insurance internationally. Originating from the standardized policy forms developed by the Insurance Services Office (“ISO”) in the United States, CGL policies generally provide coverage for third-party claims arising from bodily injury or property…
In recent years, with the increasing adoption of remote working models, insurance companies in China have been exploring more flexible employment and office arrangements, including work from home, cross-regional working, and sharing office space. While these arrangements may improve operational efficiency, they also raise an important compliance issue: whether employees working outside the registered location…
I. Common Criminal Offenses Encountered in Insurance Claims
Common types of criminal conduct seen in insurance claims include fraudulently obtaining indemnity payments, misappropriating surrender or reduction refunds due to policyholders, or under the guise of surety insurance defrauding banks and other financial institutions.
At the application stage, an applicant may fabricate the subject-matter of insurance…
The Reinsurance Registration System (the “System”) was established by the former PRC insurance authority–China Insurance Regulatory Commission, now known as the National Financial Regulatory Administration (NFRA), as an essential financial infrastructure to strengthen supervision over the PRC reinsurance market and enhance regulatory efficiency. Officially launched on January 1, 2016, the System has been…
In the process of dealing with property insurance claims, the understanding and application of “gross negligence” has always been a critical and delicate issue. When searching online for judicial precedents with the keywords “property insurance dispute” and “gross negligence” in Chinese, there are more than 6,000 relevant cases popping out. Therefore, accurately grasping the connotation…
Focusing on Accidental Injury Insurance
Article 25 of the Judicial Interpretation III of the Insurance Law stipulates that “Where it is difficult to determine whether the insured’s losses are caused by a covered event, a non-covered event or a disclaimer, if the parties concerned request that the…
The newly revised Company Law (“New Company Law”) was adopted at the 7th Session of the Standing Committee of the 14th National People’s Congress on December 29, 2023, and has come into effect on July 1, 2024. This article provides a concise analysis of the implications of the New Company Law for corporate governance in…
Core Tip:
The “misleading sales” determined by financial regulatory authorities is not equivalent to “fraud” under civil law. People’s courts should review whether it constitutes “fraud” in accordance with the law, based on the specific circumstances of each case, the elements of fraud, and the standard of proof, rather than merely relying on the conclusion…
The primary objective of insurance law across jurisdictions is to balance the interests of policyholders, insureds, and insurers. However, the inherent complexity and standardization of insurance contracts, often drafted unilaterally by insurers, pose challenges for policyholders who may lack the expertise to fully comprehend their terms.
Insurance contracts are typically contracts of adhesion, where…
Multinational enterprises adeptly allocate insurance resources on a global scale. However, China’s laws and regulations impose restrictions on overseas insurance arrangements, requiring policyholders to navigate regulatory compliance challenges, particularly in insurance and foreign exchange regulation, when selecting coverage for their Chinese subsidiaries. Drawing on practical experience, this article examines the insurance and foreign exchange regulation…
