Insurance for litigation preservation liability

By Paul Zhou and Yu Xiaofeng, Wintell & Co
0
2744

Litigation preservation liability insurance first appeared in 2012, released by Champion Property & Casualty Insurance following approval by the Yunnan Provincial Insurance Regulatory Bureau. With the rapid increase in the number of cases and in the amount of the subject matter of litigation in recent years, security provided in cash, in the form of real property and other traditional means has become less attractive. The issue of insufficient security capacity of security companies has also frequently arisen and the review of security qualifications by courts has become stricter. As a special product, litigation preservation liability insurance has become the new darling of the litigation preservation security market.

周波 PAUL ZHOU 瀛泰律师事务所高级合伙人 Senior Partner Wintell & Co
周波
PAUL ZHOU
瀛泰律师事务所高级合伙人
Senior Partner
Wintell & Co

The insurance liability of litigation preservation liability insurance refers to the damages that the court orders to be borne by the insured as a result of the loss incurred by the respondent due to an erroneous application for litigation property preservation by the insured. The insurer is responsible for indemnification in accordance with the insurance contract, where all of the following conditions are satisfied: (1) the property preservation respondent genuinely incurred a loss; (2) there is a causal relationship between the occurrence of the loss suffered by the property preservation respondent and the erroneous application for litigation property preservation by the insured; and (3) the specific amount of the loss incurred by the property preservation respondent is confirmed in the effective judgment of the court.

You must be a subscribersubscribersubscribersubscriber to read this content, please subscribesubscribesubscribesubscribe today.

你需要登录去解锁本文内容。欢迎注册账号。如果想阅读月刊所有文章,欢迎成为我们的订阅会员成为我们的订阅会员

Paul Zhou is a senior partner and Yu Xiaofeng is an associate with Wintell & Co

Wintell_Logo

上海市浦东新区世纪大道1589号

长泰国际金融大厦1901室 邮编:200122

Room 1901-1905, Chamtime International
Financial Centre, No. 1589 Century Avenue
Pudong, Shanghai 200122, China

电话 Tel:+86 21 6854 4599

传真 Fax:+86 21 6854 5667

电子邮箱 E-mail:

paul.zhou@wintell.cn

dylan.yu@wintell.cn

www.wintell.cn