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Guangzhou social security minimum payment base
Legal basis: People's Republic of China (PRC) Insurance Law.
Article 1 This Law is formulated for the purpose of regulating insurance activities, protecting the legitimate rights and interests of the parties involved in insurance activities, strengthening the supervision and management of the insurance industry, maintaining social and economic order and social public interests, and promoting the healthy development of the insurance industry.
Article 2 The term "insurance" as mentioned in this Law refers to the commercial insurance behavior in which the applicant pays the insurance premium to the insurer in accordance with the contract, and the insurer is liable for the property losses caused by the possible accidents agreed in the contract, or when the insured dies, is disabled or sick, or reaches the age and time limit agreed in the contract.
Article 3 This Law shall apply to insurance activities within the territory of People's Republic of China (PRC).
Article 4 Insurance activities must abide by laws and administrative regulations, respect social morality, and may not harm public interests.
Article 5 The parties to insurance activities shall exercise their rights and perform their obligations in accordance with the principle of good faith.
Article 6 Insurance business shall be operated by insurance companies established in accordance with this Law and other insurance organizations stipulated by laws and administrative regulations. No other unit or individual may engage in insurance business.
Article 7 Where legal persons and other organizations in People's Republic of China (PRC) need to apply for domestic insurance, they shall apply for insurance with insurance companies in People's Republic of China (PRC).
Article 8 Insurance, banking, securities and trust industries shall be operated and managed separately, and insurance companies shall be established separately from banks, securities and trust institutions. Unless otherwise stipulated by the state.
Article 9 the State Council insurance supervision and administration institutions shall supervise and administer the insurance industry according to law.
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