JunZeJun Law Office: New Law Express No.8, 2020
The latest New Law Express No.8, 2020 released by JunZeJun Law Office provides an interpretation of How can companies reduce operating risks through insurance in an era of post-pandemic.
Overview
Since the beginning of 2020, COVID-19 has broken out and spread around the world, the global economy has been faced with a recession. According to the "Follow-up investigation and analysis report on the impact of COVID-19 on the operation and development of enterprises (IV issue)" issued by the China Enterprise Reform And Development Society on November 4, 2020, companies’ expectations for the full-year operating results in 2020 have slightly increased compared with the previous period, but the decline in demand is still the biggest challenge faced by businesses. A variety of factors have increased the impact on enterprises which deserve attention, such as the rising prices of production factors, upstream and downstream pressure on industrial chains, growing risk of default, and increased legal disputes,etc.
In the present era of post-pandemic, insurance is expected to become one of the main ways for shifting and diluting business risks. For this reason, the China Banking and Insurance Regulatory Commission has issued a series of new regulations on the insurance industry during the pandemic in order to ensure the regular operation of enterprises. So what legal issues are noteworthy for companies to buy insurance and settle insurance claims?
Key Contents
Legal risks that enterprises should pay attention to when insuring important business-related insurance
I.Insured enterprises should pay attention to the scope of insurance liability - taking "Business Interruption Insurance" as an example
II.Choosing an appropriate policy is essential for claim settlement -- Taking "Product Liability Insurance" as an exampleClick here to read the full New Law Express No.8, 2020.
