| Since Ping An Insurance Company launched the first insurance product-Ping An Century Financial Investment Connected Insurance-in China in October1999, insurance investment products in recent years have developed rapidly after setbacks and silence in initial stage. Insurance companies are developing insurance products, and the sale of insurance products could generate60%of total sales of insurance companies. The insurance products in China have developed on a speedway. But, more and more disputes are behind it.Though Insurance Law was amended in2009and Insurance Law Judicial Interpretation I and Insurance Law Judicial Interpretation II were introduced in2010and2013, insurance products were almost not involved. There are only several clauses regulating it in regulations of CIRC. Besides, the value of the law which the current insurance laws and regulations follows tends to protect the insurance industry and ignore the protection of insurance applicants. Vulnerable insurance applicants lacks professional knowledge, relevant information and rights protection ways, which results in the transfer of all or part of investment failure risks from insurance companies to insurance applicants.Given this, based on the basic theory of investor protection and discussion on investor protection experience of other financial industries and foreign insurance products, this paper starts from the trust legal relation resulted from insurance products, does preliminary study on insurance product applicants legal protection’s entity system and procedure rules from the three time periods of insurance products transaction-in the course, beforehand and afterwards, and try to make suggestions to the perfection of applicant’s rights and interests protection.In the paper there are five parts other than Introduction and Conclusion.The1st chapter defines the legal role of insurance financial product applicants firstly. Insurance financial product applicants are considered to possess both consumer role and investor role based on the comparative analysis of traditional security type insurance product applicants and insurance financial product applicants. Then via the comparison with traditional security type insurance product applicants, the special meaning of insurance financial product applicants is illustrated which is different from traditional insurance consumers. The study on protection of insurance financial product applicants below is prepared.The2nd chapter starts from the theoretical basis of investor protection, analyzes the contract theory and legal theory of investor rights protection, draw the conclusion that the two theories shall fit together and be in line with the protecting system below. Next, in view of the dual legal roles of insurance product applicants, dual legal relationship between insurance product applicants and insurance company is illustrated, and the discussion of interest conflicts between legal entities mainly focuses on the trust legal relation formed from the investment part of insurance products. In view of insurance applicant rights and insurance company obligations contained in this trust legal relation, the interest conflict must be well balanced in order to effectively protect insurance applicant rights and interests. Then, what is the way to balance the conflict? This paper builds an analysis system of protection mechanism from the perspective of substantial law and procedural law of legal regulation and the rights and interests protection in chronological order, which lays the foundation of realization approach to protect insurance applicant rights and interests.The3rd chapter makes further discussion based on the insurance applicant rights and interests protection system built in chapter2nd. Firstly, insurance applicant appropriateness and access system of financial products are illustrated. Secondly, information disclosure system during the transaction is analyzed and emphasized on the basis of insurance applicants’ right to access. Lastly, dispute settlement mechanism after the transaction is elaborated on the found of insurance applicants’ right of claim.The4th chapter introduces the typical cases of infringement of insurance applicants’ rights and interests in China, and categorized them legally according to the property. Via discussing the typical cases where insurance applicants’ rights and interests are hurt, this chapter holds that there are some flaws in the protection of applicants’ rights and interests.The5th chapter puts forward the principle that inclined protection to insurance applicants shall be amended, and then makes suggestions to the perfection of applicants’ rights and interests protection. |
