Yesterday morning, the office of the State Council promulgated the decision on Amending the insurance law of the people's Republic of China (Draft) (hereinafter referred to as the draft) and publicly solicit public opinion, the insurance period over a year of life insurance contract, shall not be less than twenty days of anti regret". Reporter noted that the insurance law to amend a total of 24 new, delete the 1, modify the 54, a total of 9 chapters 208. The relevant units and people from all walks of life can be in November 2015 14, log on to the Chinese government legal information network, through the website of the home on the left side of the draft rules and regulations system, or to write a letter and e-mail.
20 days to go back for a full refund of premium
The draft to strengthen the protection of consumers, improve the insured, the insured and the beneficiary of the protection measures. Clearly introduce the concept of insurance consumers, to further highlight the protection of insurance consumers' rights and interests protection of regulatory guidance for the insurance consumer protection work and system construction to provide a legal basis. Draft new regulations, the insurance period over a year of life insurance contracts, should be agreed period of hesitation. The applicant has the right to terminate the insurance contract, the insurer shall return the insurance premium in time. The date of receipt of insurance from the insured period of hesitation, not less than twenty days.
In terms of insurance companies, the new terms and conditions include: insurance companies issue subordinated debt, should be approved by the insurance regulatory authority under the State Council, insurance companies should be in accordance with the provisions of the State Council, the ability to absorb losses, the actual capital into core capital and subsidiary capital, insurance companies can issue equity capital instruments, debt capital instruments and other capital instruments approved by the State Council insurance regulatory authority to improve the solvency adequacy ratio, management measures by the State Council Insurance Regulatory agency. In the capital market, the capital market should be publicly issued capital instruments, shall comply with the provisions of laws, administrative regulations and other laws and administrative regulations of the people's Republic of China Securities Law, etc..
The new contact information on the contract is prohibited.
Opinion draft also strengthen the protection of personal information. The increase in the disclosure of the prohibition of insurance companies and their employees, insurance agents, insurance brokers and their employees, the sale or illegal provision of personal information to other people, the insured.
The opinion draft stipulates that the insurance industry information sharing platform is responsible for the collection, storage, processing and application of insurance management data, and the registration management of the insurance information. The draft in the existing insurance companies and their staff in the insurance business activities shall be deception insured, be based on the provisions of the insured or the beneficiary ", also added shall have the following acts: propaganda or misleading or with the fact that does not match the description of insurance products; fails to perform in accordance with the regulations or agreed time limit, as agreed in the contract of insurance indemnity or payment of the insurance gold obligation; instigating, inducing insurance agents engaged in activities in violation of the obligation of good faith; disclose, sell or illegal to others provided in business activities, aware of the insured, insurance of commercial secrets or personal information. The draft also increased the contents of the insurance contract shall include the contact information of the insured, the insured, the insured and the beneficiary.
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