Tongfang Dynamics | Lawyer Wang Zhanping from our firm attended the 2024 Lawyers’ Financial Business Innovation and Development Exchange Conference hosted by the Financial Professional Committee of the All China Lawyers Association.
Tongfang Dynamics
2024-10-30
The 2024 Lawyers’ Financial Business Innovation and Development Exchange Conference of the Financial Professional Committee of the All China Lawyers Association was held in Tianjin on October 20, 2024. Senior partner of our firm, lawyer Wang Zhanping, a member of the Financial Professional Committee of the All China Lawyers Association and Deputy Director of the Financial and Insurance Committee of the Liaoning Provincial Lawyers Association, along with other members of the Provincial Lawyers Association’s Financial and Insurance Committee, attended this conference.
This exchange meeting, centered on the core theme of “Financial Entrepreneurship and Development,” has invited experts and scholars from financial regulatory authorities, judicial bodies, and those who have long been dedicated to financial and legal research and practice. Through keynote speeches and specialized discussions, participants will explore topics including “The Latest Developments in Financial Reform and Regulation,” “Capital Market Development and Emerging Trends,” “Innovation and Development in Legal Services for Financial Markets,” “Mechanisms for Resolving Financial Disputes as well as Hot and Cutting-Edge Issues in Insurance,” and “Research on Frontier Legal Issues in Funds and Asset Management.”
The exchange meeting featured rich content and a brisk pace. It not only provided experts and scholars with insights into policies related to financial support for high-quality economic development, but also closely focused on cutting-edge issues and judicial practices in legal services for financial markets—balancing professionalism with practicality. Lawyers representing the provincial bar association, drawing on their respective areas of expertise, enthusiastically shared their reflections and takeaways from the event.
As a lawyer in the insurance business field Attorney Wang Zhanping said he is paying close attention to the special session on insurance business at this exchange meeting. Regarding the article “The Legal Nature, Functions, and Risks of the Second Insured,” published by Deputy Director Mi Yongmei of the Financial Committee of the All China Lawyers Association, Attorney Wang Zhanping commented: “Indeed, this issue is relevant in life insurance. In its ‘Interpretation No. 3 of the Insurance Law—Understanding and Application,’ the Supreme People’s Court provided a brief explanation on the issue of policy succession following the death of the insured. However, it did not elaborate further on how this right should be exercised. Moreover, the interpretation itself recognizes the practice of the insured modifying the beneficiary through a will. Similarly, Director Mi’s argument that the insured’s rights can be exercised via the insured’s will is consistent with the principle stipulated in the Civil Code regarding the role of testamentary executors. In the field of wealth inheritance, this provides a practical approach for the effective transfer of insurance rights.”
Director Lin Xinhua from the Insurance Specialized Committee of the Tianjin Lawyers Association delivered a speech titled “Discussion on Key Issues Regarding Directors’ Liability Insurance in the Context of the New Corporate Law.” Attorney Wang Zhanping commented: “In recent years, some listed companies have been involved in violations and subsequent compensation claims, prompting increasing societal attention to directors’ liability insurance. Director Lin conducted a detailed investigation into the current development of directors’ liability insurance in the insurance market and thoroughly compared the scope of insurance coverage and exclusions with the legal responsibilities imposed on directors, supervisors, and senior management. His analysis—based on factual evidence and well-reasoned viewpoints—enables insured parties to fully identify risks and better understand the role of insurance, thereby encouraging corporate executives to perform their duties more prudently and effectively.” Attorney Wang Zhanping strongly endorsed Director Lin’s views and expressed his hope that the insurance industry would reach a unified understanding regarding the scope of insurance coverage for this type of policy and that the underlying legal provisions governing exclusions should be clearly defined.
Wang Zhanping
Senior Partner, Tongfang Law Firm
Director of the Tongfang Insurance and Wealth Inheritance Professional Committee
Member of the Financial Specialized Committee of the All China Lawyers Association
Outstanding Lawyer of Shenyang City
Financial, Insurance, and Securities Specialist Attorney
Deputy Director of the Financial, Insurance, and Securities Professional Committee of the Liaoning Provincial Lawyers Association
Deputy Director of the Financial, Insurance, and Securities Professional Committee of the Shenyang Lawyers Association
Arbitrator of the Shenyang Arbitration Commission
Mediator at the Liaoning Province Banking and Insurance Dispute Mediation Center
Director of the Liaoning Provincial Insurance Society
Director of the Shenyang Charity Federation
Instructor of Insurance Law Practice at the School of Law, Liaoning University
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