(Adoptedatthe14thmeetingoftheStandingCommitteeoftheEighthNational
Congress
on
June
30,
1995,
Amended
in
accordance
with
the
Decision
Content
ChapterIGeneralProvisions
ChapterIIInsuranceContract
Section1GeneralProvisions
Section2PropertyInsuranceContract
Section3LifeInsuranceContract
ChapterIIIInsuranceCompany
ChapterIVInsuranceOperationalRules
ChapterVSupervisionandAdministrationoftheInsuranceBusiness
ChapterVIInsuranceAgentsandInsuranceBrokers
ChapterVIILegalLiability
ChapterVIIISupplementaryProvisions
Article1
Thislawhasbeenformulatedwithaviewtostandardizingtheinsurance
activities,
protecting
legitimate
rights
and
interests
of
parties
to
insurance
strengthening
supervision
administration
insurancebusinessandpromotingitshealthydevelopment.
Article2
Insuranceusedinthislawreferstotheactofpaymentofpremiumsby
insurants
insurers
responsibility
give
indemnitytotheinsurantsincaseoflossestopropertyoftheinsurantscaused
by
a
specific
contingency
or
perils
death,
injury,
sickness
insured
uponthestipulatedageaccordingtotermsassetinthecontracts.
Article
3
ofChinashallbegovernedbythislaw.
4
Insurance
activities
shall
be
subject
rule
laws
administrative
regulations,
compliance
social
ethics
principleoffreewill.
5
The
concerned
abide
principleofgoodfaithintheexerciseofrightsandperformanceofobligations.
Article6
Insurancecompaniesshallbesetupaccordingtothislawtoengagein
commercialinsurancebusiness.Nootherentityorindividualisallowedtoengage
insuchbusiness.
7
Legal
persons
other
organizations
which
want
within
documents
companies
territory
RepublicofChina.
Article8
Incarryingoutbusiness,insurancecompaniesshallfollowtheprinciple
offaircompetition.Illicitcompetitionisnotallowed.
Article9
InsurancesupervisoryandregulatorybodyundertheStateCouncilshall