Legislative Interpretation of Benefit of Insurance Clauses in the New Insurance Law

The new Insurance law is the comprehensively amended edition of the Insurance Law made in 1995,among which Clause 12 Benefit of Insurance is greatly revised.Based on comparison and theoretical analysis of Clause 12 in the new and the old editions,this paper finds that Clause 12 of new Insurance Law lays down different stipulations regarding subject of insurance benefit,differentiated time for personal insurance and property insurance to come into effect.From the legislative perspective,the amendment reflects the latest research achievements in the insurance theory and practice over the past few years,showing that great progress has been made in insurance benefit clause legislation.