Compilation of Relevant Regulations on Compulsory Traffic Accident Liability Insurance for Motor Vehicles

Author: China Legal Publishing House / Country: Mainland China
Publisher:
Publishing Time: 2006-07-01
Features: The Regulations on Compulsory Traffic Accident Liability Insurance for Motor Vehicles (Passed by the 127th Executive Meeting of the State Council on March 1, 2006, Promulgated by the State Council of the People's Republic of China Order No. 462 on March 21, 2006, and Effective from July 1, 2006) Chapter I General Provisions
Article 1 To ensure that victims of traffic accidents involving motor vehicles are legally compensated and to promote road traffic safety, these Regulations are formulated in accordance with the Road Traffic Safety Law of the People's Republic of China and the Insurance Law of the People's Republic of China.
Article 2 The owner or manager of a motor vehicle operating on roads within the territory of the People's Republic of China shall, in accordance with the provisions of the Road Traffic Safety Law of the People's Republic of China, purchase compulsory traffic accident liability insurance for motor vehicles. The purchase, compensation, and supervision of compulsory traffic accident liability insurance for motor vehicles shall be governed by these Regulations.
Article 3 The Regulations refer to compulsory traffic accident liability insurance for motor vehicles, which means that insurance companies shall be required to compensate for personal injuries and property damage suffered by victims other than the occupants of the insured vehicle or the insured themselves in the event of a traffic accident involving the insured motor vehicle, within the limits of liability.
Article 4 The Insurance Regulatory Commission of the State Council (hereinafter referred to as the "Commission") shall legally supervise the business of compulsory traffic accident liability insurance for motor vehicles of insurance companies. The Regulations on Compulsory Traffic Accident Liability Insurance for Motor Vehicles (Passed by the 127th Executive Meeting of the State Council on March 1, 2006, Promulgated by the State Council of the People's Republic of China Order No. 462 on March 21, 2006, and Effective from July 1, 2006) Chapter I General Provisions
Article 1 To ensure that victims of traffic accidents involving motor vehicles are legally compensated and to promote road traffic safety, these Regulations are formulated in accordance with the Road Traffic Safety Law of the People's Republic of China and the Insurance Law of the People's Republic of China.
Article 2 The owner or manager of a motor vehicle operating on roads within the territory of the People's Republic of China shall, in accordance with the provisions of the Road Traffic Safety Law of the People's Republic of China, purchase compulsory traffic accident liability insurance for motor vehicles. The purchase, compensation, and supervision of compulsory traffic accident liability insurance for motor vehicles shall be governed by these Regulations.
Article 3 The Regulations refer to compulsory traffic accident liability insurance for motor vehicles, which means that insurance companies shall be required to compensate for personal injuries and property damage suffered by victims other than the occupants of the insured vehicle or the insured themselves in the event of a traffic accident involving the insured motor vehicle, within the limits of liability.
Article 4 The Insurance Regulatory Commission of the State Council (hereinafter referred to as the "Commission") shall legally supervise the business of compulsory traffic accident liability insurance for motor vehicles of insurance companies.