Basis of Member’s Liability

Createdate: 2015年07月10日Hits:

  1. Underwriting of Nuclear Insurance

  The Pool Members must underwrite all Nuclear Insurance through the Pool according to “The Constitution of the China Nuclear Insurance Pool”.

  2.Membership (Joint Liabilities)

  CNIP introduces the joint responsibility into its operation basis. So the membership of our pool is based on solidarity, not several liability in accordance with the Pool Constitution and related regulations. Each of the participants is legally linked to each other, i.e., the rest of the participants will automatically step in when one is under insolvency.

  3.Membership Qualification Regulations

  The applicant shall have more than two-year long operation in the Domestic market. Its operation records shall be good and with profits recorded in the most recent year. Its market reputation shall also be acceptable to the insured and the members.

  Nevertheless, the applicant should have never been warned recently by the CIRC(China Insurance Regulation Commission)as to its operation standing.

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