What are the regulations of Internet insurance and what are the new regulations on Internet insuranc

Interim Measures for the Supervision of Internet Insurance Business (Draft for Comments).

These Measures are formulated on the basis of the "Insurance Law of the People's Republic of China" and other laws and administrative regulations, so as to regulate the operation of Internet insurance, protect the lawful rights and interests of insurance consumers, and promote the healthy and sustainable development of Internet insurance business.

The new rules for internet insurance apply to insurance companies. An insurance company operating an Internet personal insurance business shall meet the following conditions: the comprehensive solvency adequacy ratio shall reach 120% for four consecutive quarters, the core solvency shall not be less than 75%, the comprehensive risk level shall be above B for four consecutive quarters, the liability reserve coverage ratio shall be higher than 100% for four consecutive quarters, and the corporate governance assessment of the insurance company shall be above grade C (qualified) as stipulated by the China Insurance Regulatory Commission.

At present, the vast majority of insurance companies are usually able to sell insurance online, except for a few insurance companies that are not eligible. The new rules will be stricter for ordinary annuity and life insurance policies that can be sold online for more than 10 years. In addition to the above basic conditions, these insurance companies must also meet the following six requirements:

The comprehensive solvency adequacy ratio exceeds 150% for four consecutive quarters, the core solvency is not less than 100%, the comprehensive solvency excess exceeds 3 billion yuan for four consecutive quarters, and the comprehensive risk rating is above A for two years (or six quarters) for four consecutive quarters, and it is not due to major administrative penalties imposed on the Internet business, and the corporate governance assessment of the insurance company should be B (good) or above, as well as other requirements stipulated by the CBRC.

Only more than 20 insurance companies may meet the above requirements, including Ping An Life, Chinese Life, Taiping Life and Cigna, and most other insurance companies may not be able to sell annuity insurance online to increase the amount of life insurance. In addition, if you want to sell medical insurance companies such as compensatory medical insurance, disability income insurance, and accident insurance, in addition to meeting the basic conditions, you also need to set up provincial branches in this field, set up branches or cooperate with other insurance companies and insurance intermediaries to ensure their offline service capabilities in the sales field. According to the new regulations, only ordinary annuities over the age of 10 can be sold online, rather than annuities based on general annuities and dividends for those under the age of 10.

The new regulations strictly require that the shelf life of products must be consistent with the actual shelf life. As a result, the current role of pension insurance, known for its flexible deposits and withdrawals, and its role in increasing life expectancy, will be limited.

Impact of the new regulations on internet insurance: The barrier to entry for internet insurance has been raised, which means that consumers will be able to buy insurance online with more confidence in the future without worrying about the reliability of insurance. In addition, the new regulations clearly state that as long as insurance companies meet the relevant conditions, online personal insurance business can be carried out nationwide, or even without branches.

In other words, most of the insurance products on the Internet can be purchased even if they are not in the insurance area. In addition, the new regulations also put forward requirements for the operating ability of insurance companies, and clarify the service standards such as consultation rates, insurance confirmation time, claim settlement time limit, and insurance surrender, so that we can purchase insurance online more securely in the future.

It mainly refers to the evaluation of the insurance company, the core repayment ability of the insurance company, and some assessment of the liability reserve, which has a relatively large impact, which will affect the development of the company and the company's business.

The new regulations on Internet insurance raise the entry threshold and improve the reliability of insurance. The impact on the insurance company is very large, because in this way, people can buy insurance online more assured, so it can improve the economic income of the insurance company, which has a very good promotion effect.

It has a particularly big impact, first of all, it is necessary to pay attention to the cost performance, and also clarify a lot of previous rumors, and also standardize the business of Internet deposits, which will strengthen risk management and protect the real estate rights and interests of consumers.

Legal Analysis: Mutual insurance organizations and Internet insurance companies are clearly included in the scope of insurance companies, and a clear definition of Internet insurance companies is given, emphasizing the characteristics of Internet insurance companies that do not have branches, cover the whole country, and specialize in Internet insurance business. In practice, the insurance license information of Internet insurance companies such as Zhong'an**, Taikang**, Yi'an Property Insurance and Anxin Property Insurance includes the expression "directly related to Internet transactions" in order to distinguish them from general insurance companies.

Legal basis: Regulations of the People's Republic of China on Information Disclosure

Article 7: All levels of people shall actively promote information disclosure efforts, gradually increasing the content of information disclosure.

Article 8: All levels of the people's ** shall strengthen the standardization, standardization, and information management of ** information resources, strengthen the establishment of ** information disclosure platforms on the Internet, promote the integration of ** information disclosure platforms and government service platforms, and increase the level of handling ** information disclosure**.

Article 9: Citizens, legal persons, and their organizations have the right to supervise administrative organs' efforts to disclose information, and to make criticisms and suggestions.