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
In recent years, the AnJie Broad insurance team has handled several arbitration cases in the United States, the United Kingdom, and other jurisdictions involving reinsurance contract disputes, all of which concerned situations where Chinese companies, acting as reinsurers, assumed risks from overseas. Owing to the technical complexity inherent in international reinsurance business—often compounded by excessively
In dealing with PRC related insurance disputes, one question is often raised by Chinese court or arbitration institute: what is the insurance agent or the insurance broker? The relationship between the insurance agent, broker, insurer, policyholder, insured and beneficiary always confused the judge and arbitrator. This article will elaborate the concept, function, difference of these
An obvious fact for foreign insurers is that they are not allowed to conduct insurance business within the territory of China (excluding jurisdiction as Hong Kong, Macau and Taiwan for the purpose of this article), nor can their Chinese non-insurance subsidiaries which do not possess any insurance
What is Director and Officer Liability Insurance?
Directors and officers (“D&Os”) assume liability for many of their company activities, especially when their company is publicly listed. In many cases D&Os face significant legal exposure based simply on their signature, role and title, or status as a controlling person. This means that no matter how effectively,
Regulation continues to be tightening in the insurance industry, with lesser and lesser tolerance for violations of laws and regulations in 2022. Many new law compliance issues are emerging, such as how to understand and apply the corporate governance regulation rules, what are the challenges in compliance management, what are the employment risks and how
When concluding an insurance contract, the insurance applicant has a duty of disclosure. The applicant is not obliged to disclose information unless the insurer enquires.
The insurer’s remedy for breach of this duty varies. The insurer can either:
Let’s talk tech and Chinese money.
Since antiquity, China had led the world with its adoption of cutting-edge currency
Today, there is an immense amount of interest surrounding China’s new digital yuan (“DCEP” – Digital Currency Electronic Payment).
However, China’s history of currency innovation goes back to ancient times. Unlike Roman coins, ancient
Author:Hannibal El-Mohtar Agnes Wang
(Attribution: Ravi Kant)
I. How can Hong Kong and foreign insurers currently sell insurance to MainlandChina?
Despite the COVID-19 pandemic, many Mainland residents find foreign insurance policies more attractive than those found in the mainland and continue to cross borders to get their hands on them.
Take Hong Kong for