Restrictions on the Issue of, Life Policies the "shanghai Tnsurance Assoeation, urgent petition. presented. b pefltnking, Nov, 2,
for the' inclusion of stipulation the Insurance. Low that "loss" for which the insurer isle shoud be limited to that of which, one perit insured. against was the proximate and that, im cage. of Ree me Suranee, "the insurer' should' be liable-omty to actual less caused from Was rejected bythe Legslative Yun at is gamer seston ts morn: ug Is stipulated in the revised draft of the Insurance "Law, "which "was Approved atthe: meeting that "ins Strance agents are liable for: lost ihe matter which peril insured agatnel was the proximate cause, or remote case, and they are. Mable for lees Which is caused by forts to rescue the things Insured from. the' peril insured "agains" Th ease of Are insurance," the insurance ompanes ave hela fable for loss, no. matter if ie" ly octant Toss oF inivet Tost used by tre, Persont who take out Insurance, Ae'ts atipulsted, are limited to those bhava an insurable interest the ife and death of themselves, of any person on whom they depend wholly or in. par for education oF Support, "of any" person under: Jegnt obligation to" them for payment of money, and. of" any" perron pon 'Whose' ties any estate" or "Interest vested in them' depends, "An insur nce policy written by" these. who ihave no incurable interest fu the fife trid death of the Insured will be con sidered nullited, neurance companies In China ave prohibited from' handling both Ife edith iiweance, "Those. which handle both businesses are required {o reorganize themselves to meet the requirements ofthe law" within. period of two years after the enforces Ment of the Insurance Business Law, 'The. minimum capitol of insurance panies a" set. at $200,000. Only the Chinese' language" willie. cepted. as the ofelat interpretation of Insurance' alicles—Central News.
Text read from the printed page and cleaned; old type leaves the occasional error.