According to Article 5 of the Regulations on Compulsory Liability Insurance for Motor Vehicle Traffic Accidents, with the approval of the State Council Insurance Regulatory Authority, insurance companies can operate compulsory liability insurance for motor vehicle traffic accidents. In order to ensure the implementation of the compulsory motor vehicle traffic accident liability insurance system, the State Council insurance supervision and management institutions have the right to require insurance companies to engage in compulsory motor vehicle traffic accident liability insurance business.
Without the approval of the the State Council Insurance Regulatory Authority, no unit or individual may engage in the compulsory insurance business of motor vehicle traffic accident liability.
Extended data:
"Regulations on Compulsory Liability Insurance for Motor Vehicle Traffic Accidents" Article 10 When applying for insurance, the applicant shall choose an insurance company qualified to engage in compulsory liability insurance for motor vehicle traffic accidents, and the selected insurance company shall not refuse or delay underwriting. The insurance supervision and administration institution of the State Council shall announce to the public the insurance companies qualified to engage in compulsory liability insurance for motor vehicle traffic accidents.
Article 13 When signing a compulsory motor vehicle traffic accident liability insurance contract, the applicant shall not put forward any additional conditions other than the insurance clauses and insurance rates to the insurance company. When an insurance company signs a compulsory motor vehicle traffic accident liability insurance contract, it shall not force the applicant to conclude a commercial insurance contract or make other requirements.
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