China Insurance Regulatory Commission, Circular on Strengthening the Administration of the Co-insurance Business for Property Insurance

中国保险监督管理委员会关于加强财产保险共保业务管理的通知

March 31, 2006 | BY

clpstaff &clp articles &

Issued: March 24 2006Main contents: Standardized co-insurance business shall comply with the following requirements:1. the insured party agrees to have…

Clp Reference: 3900/06.03.24 Promulgated: 2006-03-24

Issued: March 24 2006

Main contents: Standardized co-insurance business shall comply with the following requirements:
1. the insured party agrees to have a co-insurance arrangement provided by various insurers;
2. the co-insurers jointly issue the policy, or the primary insurer issues the policy attached with the co-insurance agreement; and
3. there is a significant difference between the handling charges imposed by the primary insurer on other co-insurers and the average level of reinsurance handling charges.

clp reference:3900/06.03.24promulgated:2006-03-24

This premium content is reserved for
China Law & Practice Subscribers.

  • A database of over 3,000 essential documents including key PRC legislation translated into English
  • A choice of newsletters to alert you to changes affecting your business including sector specific updates
  • Premium access to the mobile optimized site for timely analysis that guides you through China's ever-changing business environment
For enterprise-wide or corporate enquiries, please contact our experienced Sales Professionals at +44 (0)203 868 7546 or [email protected]