State Environmental Protection Administration and China Insurance Regulatory Commission, Guiding Opinion on the Work of Environmental Pollution Liability Insurance
国家环境保护总局、中国保险监督管理委员会关于环境污染责任保险工作的指导意见
April 02, 2008 | BY
clpstaff &clp articlesChina works to set up a green insurance system.
Issued: December 4 2007
Applicability: The term “environmental pollution liability insurance” refers to an insurance policy whose subject matter covers the liability for compensation for damage incurred by third parties that should be borne by enterprises according to law as a result of pollution accidents caused by such enterprises (Article 1).
Main Contents: Pilot environmental pollution liability insurance schemes targeting enterprises that manufacture, deal in, store, transport and use dangerous chemicals, petro-chemical enterprises that are prone to pollution accidents, dangerous waste disposal enterprises, and in particular enterprises and industries with major pollution accidents in recent years, shall be launched according to the environmental condition of the region and the characteristics of the enterprises. Also, insurance companies shall develop corresponding products.
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