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
How Foreign Insurers Set Up Non-insurance Subsidiaries in China ?
By Hao Zhan, Agnes Wang & Zack Fu on
Posted in Insurance, Insurance Law
I. Purposes for setting up a non-insurance subsidiary
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…