insurance lawOur insurance coverage coverage attorneys counsel insurers and people who face questions about insurance protection relating to owners, automobile, health, skilled legal responsibility and other insurance coverage insurance policies. Article seventy four For the institution of an insurance coverage company, the applicant shall submit the next paperwork and materials: (1) a proper written software giving therein the identify, registered capital and the scope of business of the proposed insurance company; (2) a feasibility research report; and (three) other paperwork and knowledge required by the insurance coverage supervision and management authority.

Article 96 In addition to the reserve funds described in the previous two articles, insurance coverage corporations shall collect collected fund in accordance with related laws, administrative guidelines and laws and prerequisites of the State financial and accounting systems.

Where life insurance coverage contracts and reserve funds, as prescribed within the previous paragraph, are transferred to or accepted by another insurance coverage firm designated by the insurance supervision and control authority, the reputable rights and interests of the insured and the beneficiary shall be preserved.

Article fifty three The applicant has insurance curiosity in the following individuals: (1) the applicant himself; (2) the applicant’s spouse, youngsters and fogeys; or (3) aside from the above-talked about, different relations and close relatives bearing foster or help or maintenance relationship with the applicant.