Legal basis: Article 11 of the Insurance Law: When concluding an insurance contract, the applicant and the insurer shall follow the principles of fairness, mutual benefit, consensus and voluntariness, and shall not harm the public interests. Except under the circumstances stipulated by laws and administrative regulations, insurance companies and other units shall not force others to conclude insurance contracts.
Article 25 of the Measures for the Administration of Individual Housing Loans: "If real estate is used as collateral, the borrower shall go through the relevant insurance formalities in home insurance or entrust the lender to handle it before signing the contract."