Insurance Law of the People's Republic of China
(Adopted at the 14th Session of the Standing Committee of the Eighth National People's Congress on June 30, 1995, and promulgated by Order No. 51 of the President of the People's Republic of China on June 30, 1995)

Chapter II - Insurance Contract

Section 2 - Property Insurance Contract

90

Article 37

91

Under any of the following circumstances and unless the contract has otherwise stipulations, the insurer shall lower the insurance premium, and return the corresponding insurance premium calculated on a daily basis: 1. relevant circumstances on which the determination of insurance premium rate was based has undergone changes, and degree of danger of the subject-matter insured has obviously reduced, or 2. insurable value of the subject-matter insured has obviously reduced.

Insurance Law of the People's Republic of China (Adopted at the 14th Session of the Standing Committee of the Eighth National People's Congress on June 30, 1995, and promulgated by Order No. 51 of the President of the People's Republic of China on June 30, 1995)

Chapter I - General Provisions

Chapter II - Insurance Contract

Section 1 - General Provisions

Section 2 - Property Insurance Contract

Section 3 - Life Insurance Contract

Chapter III - Insurance Company

Chapter IV - Operational Rules Governing Insurance

Chapter V - Supervision and Control over Insurance Business

Chapter VI - Insurance Agent and Insurance Broker

Chapter VII - Legal Responsibility

Insurance Law of the People's Republic of China
(Adopted at the 14th Session of the Standing Committee of the Eighth National People's Congress on June 30, 1995, and promulgated by Order No. 51 of the President of the People's Republic of China on June 30, 1995)