Regulations of the PRC on Contracts of Property Insurance (from government website)
Regulations of the PRC on Contracts of Property Insurance (from government website)
Omitted
Regulations of the PRC on Contracts of Property Insurance
September 1, 1983
Chapter I General Provisions
Article 1. The Regulations of the People's Republic of China on Contracts of Property Insurance are drawn up in accordance with relevant provisions of the Economic Contract Law of the People's Republic of China.
Article 2. The property insurance referred to in the present Regulations includes various kinds of insurance on either property or interest as the subject matter of insurance, such as property insurance, agricultural insurance, liability insurance, surety bond, credit insurance etc.
The event mentioned in the present Regulations refers to and event coming within the scope of cover under the contract of insurance.
Article 3. An applicant for cover of property insurance (called the Insured in the policy or the certificate of insurance) shall be owner or the operating manager of the insured property or a person who has an insurable interest in the subject matter insured. In applying to the Insurer for the conclusion of a contract of insurance, the applicant shall be obligated to pay the insurance premium.
Article 4. The parties to the contract of insurance applying to the organ for control of contracts for reconciliation or arbitration in accordance with the provisions of Article 50 of the Economic Contract Law of the People's Republic of China shall make their submission within a period of one year from the date on which the incidence of an insured event is known or ought to be known by them.
Chapter II Conclusion, Alteration And Assignment Of Contract Of Insurance
Article 5. A contract of insurance shall be deemed to be concluded when the applicant puts forward his proposal for insurance by filling in an application and agrees with the Insurer on the method of payment of insurance premium and when the Insurer signifies acceptance of the said application form by affixing his seal thereto. The Insurer shall issue a policy or a certificate of insurance to the applicant in good time in accordance with the contract of insurance.
Article 6.
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