Authored by Dr. Zhan Hao (zhanhao@anjielaw.com) and Liang Bing (liangbing@anjielaw.com) at AnJie Law Firm
Since the issuance of Several Opinions of the State Council on Accelerating the Development of the Modern Insurance Service Industry on August 10, 2014, credit insurance has been increasingly applied in insurance practice. However, “credit insurance ” is different from “warranty” in Chinese Guarantee Law，and there is a heated discussion on the nature of a credit insurance.
In the Chinese P2P or the other transactions, credit insurance is often used to protect creditors’ benefits. In this paper, we are going to discuss the points creditors need to be aware of.
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