Legal System Of China's Insurance Consumer Protection Research

In 1944, judge Black pointed out in United States v. South-Eastern Underwriters Association that perhaps nothing in modern commerce but insurance has been affecting the lives of so many people. Insurance deal with domicile, family, professionals or business of almost American. Up to now, insurance that had been unknown to the Chinese have involved in many families and enterprises and have constituted important part of economic and social development and modern financial services industry. However, relevant legal system in insurance lags far behind the fast growth of insurance business, especially lack of complete legal framework and efficient redress mechanism. As a result, increasing insurance disputes shook the basis of insurance development and worsening conflict between insurers and insureds produced negative impact on the building of harmonious society.Based on the author's long term working experiences in banking and insurance industry and study for doctorate degree at China University of Political Science and Law, the purpose of this article is to make innovative research on the building of modern legal system in interest protection of insurance consumers and to put forth suggestions on improving the current legal system and building redress mechanism by way of adopting comparative, logic and historic methods, using advanced experiences of some western countries in insurance for reference and analyzing current insurance law and supervisory legal system in China while focusing on the core topic of legal issues of insurance consumers protection. The exploring to establish legal system with oriented consumer protection in insurance sector is conducive to full up the blank in current insurance law and...