(a) the insurance company is revoked or bankrupt according to law, and its liquidation property is insufficient to pay the benefits of the policy;

(2) The China Insurance Regulatory Commission, jointly with relevant departments, determines that there are significant risks in insurance companies, which may seriously endanger social public interests and financial stability.

Seventeenth the use of insurance funds, the China Insurance Regulatory Commission shall formulate a risk management plan and application methods, after consulting the relevant departments, submitted to the State Council for approval.

The insurance protection fund company shall be responsible for handling specific matters such as registration, distribution and disbursement of funds in accordance with the provisions of the risk disposal plan and use methods.

Article 18 An insurance guarantee fund company shall manage and use the property insurance guarantee fund and the life insurance guarantee fund respectively.

The property insurance protection fund is only used to provide assistance to the policyholders of property insurance companies, and to deal with the risks of property insurance companies in the case of significant risks as stipulated in Item (2) of Article 16 of these Measures.

The life insurance guarantee fund is only used to provide assistance to the policy holders and policy transferee companies of life insurance companies that accept life insurance contracts, and to deal with the risks of life insurance companies in the case of significant risks as stipulated in Item (2) of Article 16 of these Measures.

Article 19 If an insurance company is revoked or bankrupt according to law, and its liquidation property is insufficient to pay the benefits of the policy, the insurance protection fund shall provide assistance to the policyholders of non-life insurance contracts in accordance with the following provisions:

(a) the loss of the insured is less than 50 thousand yuan, and the insurance guarantee fund gives full assistance;

(2) If the applicant is an individual, the amount of assistance from the insurance protection fund is 90% of the loss amount exceeding 50,000 yuan; If the applicant is an institution, the amount of assistance from the insurance guarantee fund is 80% of the loss amount exceeding 50,000 yuan.

The loss of the applicant mentioned in the preceding paragraph refers to the difference between the policy interest of the applicant and the amount of claims obtained from the liquidation property.

Article 20 If an insurance company engaged in life insurance business is revoked or bankrupt according to law, its life insurance contract must be transferred to other insurance companies engaged in life insurance business according to law; If the transfer agreement cannot be reached with other insurance companies, it shall be accepted by the insurance company designated by the China Insurance Regulatory Commission to engage in life insurance business.

Article 21 If the liquidation assets of an insurance company that has been revoked or bankrupt according to law are insufficient to pay the payment of the life insurance contract, the insurance guarantee fund may provide assistance to the company that has been granted the policy in accordance with the following provisions:

(1) If the applicant is an individual, the amount of assistance shall be limited to 90% of the benefits of the transferred policy;

(2) If the applicant is an institution, the amount of assistance shall be limited to 80% of the benefit of the policy after the transfer.

If the insurance protection fund provides assistance to the policy transferee company in accordance with the provisions of the preceding paragraph, the amount of assistance shall be determined according to the financial situation of the insurance protection fund on the principle of protecting the rights and interests of small and medium-sized policy holders and maintaining the stability of the insurance market.

Twenty-second in order to protect the legitimate rights and interests of the insured, according to the actual situation of social and economic development, with the approval of the State Council, the China Insurance Regulatory Commission may, in conjunction with relevant departments, adjust the amount and proportion of assistance from the insurance protection fund in a timely manner.

Article 23 If an insurance company is revoked or bankrupt according to law, and the insurance protection fund provides assistance to the applicant or the policy is transferred to the company, it shall be deducted from the insurance protection fund in the following order:

(1) The balance of the insurance guarantee fund of an insurance company that has been revoked or bankrupt according to law;

(2) Balance of insurance guarantee funds of other insurance companies.

The amount deducted from the balance of insurance protection funds of other insurance companies shall be calculated according to the market share of each insurance company in the previous year.

Article 24 If an insurance company is revoked or bankrupt according to law, after the revocation decision is made or before filing a bankruptcy application with the people's court according to law, the applicant can sign a creditor's rights transfer agreement with the insurance protection fund company, and the insurance protection fund company will pay the insurance protection fund to it to obtain the creditor's rights of the applicant against the insurance company.

After the liquidation, if the amount of claims received by the insurance guarantee fund is greater than the amount of relief paid, the insurance guarantee fund shall return the difference to the insured.

Twenty-fifth the following businesses do not belong to the scope of payment by the insurance protection fund, and the insurance protection fund will not pay them:

(1) Overseas direct insurance business underwritten by insurance companies;

(2) Reinsurance business of insurance companies.

(three) the policy insurance business determined by the State Council, the ultimate risk of which is borne by the state finance;

(4) Enterprise annuity management services such as enterprise annuity trustees and account managers employed by insurance companies;

(5) Other businesses identified by the China Insurance Regulatory Commission in conjunction with relevant departments that do not fall within the scope of assistance provided by the insurance protection fund.

If an insurance company is revoked or bankrupt according to law, and its directors, senior managers or shareholders are directly responsible for the company's revocation or bankruptcy due to violation of laws, administrative regulations or relevant provisions of the state, the insurance protection fund will not help the policy interests held by directors and senior managers in the insurance company and the property loss insurance policy interests held by shareholders in the insurance company.