(1) Property insurance business, including property loss insurance, liability insurance, credit insurance and other insurance businesses;
(2) Personal insurance business, including life insurance, health insurance, accident insurance and other insurance business.
The same insurer may not concurrently engage in property insurance business and personal insurance business; However, an insurance company engaged in property insurance business may engage in short-term health insurance business and accidental injury insurance business with the approval of the insurance supervision and administration institution.
The business scope of an insurance company shall be approved by the insurance supervision and administration institution according to law. Insurance companies can only engage in insurance business activities within the approved business scope.
An insurance company may not concurrently engage in businesses other than those stipulated in the Insurance Law and other laws and administrative regulations.
What reinsurance business can an insurance company operate?
With the approval of the insurance regulatory agency, an insurance company may engage in the following reinsurance business of the insurance business specified in the preceding article:
(1) ceding insurance.
(2) reinsurance.
2. What can't an insurance company do?
An insurance company and its staff shall not commit any of the following acts in insurance business activities:
(1) Deceiving the applicant, the insured or the beneficiary;
(2) Concealing important information related to the insurance contract from the applicant;
(3) Obstructing the applicant from fulfilling the obligation of telling the truth as stipulated in the insurance law, or inducing him not to fulfill the obligation of telling the truth as stipulated in the insurance law;
(four) promised to give the applicant, the insured or the beneficiary a premium rebate or other benefits other than those stipulated in the insurance contract;
(5) Deliberately fabricating an insurance accident that has never happened to make false claims to defraud insurance money.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.