Key practical points:
• An insurance contract rests on 'utmost good faith', so the insured must honestly disclose material facts.
• There must be a genuine 'insurable interest' in the subject matter.
• The insurer may refuse a claim where material facts are deliberately concealed, but the law limits this with an incontestability period (two years).
• On the insured event, prompt notice and the required documents must be given to claim.
• The insurer must decide claims and pay within set time limits, and unjustified refusal can be challenged.
• Read the exclusions and coverage carefully before buying, especially in health and motor insurance.
💼 Contracts
Insurance Law · Yalla China
中华人民共和国保险法 / Insurance Law
📝 Overview
A law governing insurance contracts, insurance companies and their supervision. It sets the rights and duties of the insured and the insurer, and rules on disclosure and payment of claims.
This is general information only, not legal advice. For your specific case, consult a licensed lawyer.
📜 The law text / key provisions
🕒 Updated: 16 March 2026