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ARTICLE · 14 AUGUST 2013

Second Judicial Interpretation Helps Clarify PRC Insurance Law

Mayer Brown
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The PRC Supreme Court has recently issued the Interpretations of the Supreme People's Court on Certain Issues Concerning the Application of the Insurance Law of the People's Republic of China (II).

ChinaInsurance
Andy Yeo
Andy Yeo
Huan Ding
Huan Ding
Jenny Yu
Jenny Yu
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Keywords: PRC insurance law, PRC Supreme Court, insurance clauses

The PRC Supreme Court has recently issued the Interpretations of the Supreme People's Court on Certain Issues Concerning the Application of the Insurance Law of the People's Republic of China (II) (Interpretation), which came into force on 8 June 2013. The Interpretation clarifies a number of issues relating to insurable interest, duty of disclosure and the insurer's obligations to explain insurance clauses. A summary of the key issues is set out below.

Insurable Interests of Different Parties in Property

Previously, the people's court generally did not recognise that leasees or carriers have insurable interests in property being used, leased or transported by them. Article 1 of the Interpretation provides where different parties have taken out insurances for the same property, the people's court will uphold their claim on the insurance claim to the extent of their insurable interest. The

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