China Insurance Regulatory Commission, Air Passenger Accident Insurance Provisions (Industry Guidance Provisions)

Issued: January 10 2003

Main contents: The Provisions cover the composition, coverage, insurance liability, exemption clauses, insurance period, the sum insured, premiums, beneficiary, notification of an insured event, application for indemnities, dissolution of the contract and dispute resolution concerning an air passenger accident insurance contract. Air passenger insurance is purchased in units that each provide Rmb400,000 coverage, and the same individual may purchase up to Rmb2 million of coverage. The cost for each unit of coverage is Rmb20 (Article 6). The policyholder may designate one or more beneficiaries (Article 7). In the event of an accident, the policyholder should notify the insurer within five days (Article 8). Disputes may be settled through arbitration or court judgment (Article 11).