Property Insurance Law

Author: Zheng Yunrui
Publisher:
Publish Date: 2004-07-01
Features: The development of China's insurance industry is still in its primary stage. The prominent contradiction it faces currently is the high demand for the insurance industry from society versus the lagging development of the insurance industry. In recent years, China's insurance industry has adjusted its development approach, shifting from focusing on short-term business expansion to emphasizing long-term economic benefits and sustainable development. Especially after the insurance market was opened, the number of market participants increased, and market competition intensified continuously. The monopoly operation in the insurance market has become a thing of the past, giving way to a situation where state-owned insurance companies dominate, domestic and foreign insurance companies coexist, and effective competition is formed among insurance companies.
Due to the international nature of insurance operations, the insurance industry holds an important position in the international trade service system and plays an irreplaceable role in global economic activities. As a member of the World Trade Organization, China's insurance legal system must align with international standards to ensure that the Chinese insurance market is recognized by the World Trade Organization. This book comprehensively and systematically discusses the fundamental theories of property insurance law practice, identifies issues in China's property insurance legal system and property insurance practice, and proposes exploratory solutions.