This Law is formulated in order to regulate insurance activities, protect the legitimate rights and interests of parties involved in insurance activities, strengthen the supervision and management of the insurance industry, maintain social and economic order and social public interests, and promote the healthy development of the insurance industry. .
Legal basis:
"Insurance Law of the People's Republic of China"
Article 2 The term "insurance" as mentioned in this law refers to the insurance policy stipulated in the contract by the policy holder. , pay the insurance premium to the insurance company, and the insurance company shall bear the liability for compensation for property losses caused by the occurrence of the accident that may occur as stipulated in the contract, or when the insured dies, becomes disabled, becomes ill, or reaches the age or age specified in the contract. A commercial insurance act that assumes responsibility for paying insurance benefits within certain time limits and other conditions.
Article 10 An insurance contract is an agreement between the policy holder and the insurer stipulating the insurance rights and obligations.
The policy holder refers to the person who enters into an insurance contract with the insurer and is obligated to pay the insurance premium as stipulated in the contract.
Insurers refer to insurance companies that enter into insurance contracts with policyholders and assume liability for compensation or payment of insurance premiums in accordance with the contract.
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