Civil Law

A Study on Lloyd’s Syndicate Litigation Standing: Cross-Border Perspectives and Chinese Practice

In the international insurance market, a syndicate is Lloyd’s operational unit for conducting insurance business. It is financially supported by one or more Lloyd’s members and routinely managed by a specialist Managing Agent. These Lloyd’s members are the actual insurers of the relevant insurance policies.

Section 8(1) of the English Lloyd’s Act 1982 provides that:

“An underwriting member shall be a party to a contract of insurance underwritten at Lloyd’s only if it is underwritten with several liability, each underwriting … Read the rest

Civil Law

Article 25 of the Judicial Interpretation III of the Insurance Law in Judicial Practice

Focusing on Accidental Injury Insurance

I. Introduction of the Issue to Be Discussed

Article 25 of the Judicial Interpretation III of the Insurance Law stipulates that “Where it is difficult to determine whether the insured’s losses are caused by a covered event, a non-covered event or a disclaimer, if the parties concerned request that the insurer makes insurance payout, the People’s Court may support in accordance with the corresponding ratio.” Through searching by the author, this judicial interpretation is frequently … Read the rest

Civil Law

2023 Insurance Law Practice Overview of China

Ⅰ.INTRODUCTION

Over the past decade, China’s insurance industry has grown rapidly and held the second-largest premium market share worldwide for many years, contributing steadily to the global insurance market. In 2022, despite the repeated impact of the pandemic and the turbulent capital markets, China’s insurance industry has been put to the test and has seen new developments with the introduction of various favorable policies, such as the start of pension insurance and green insurance and the continued “popularity” of D&O … Read the rest