How is the insurance industry regulated in China

1) Formulate guidelines and policies for the development of the insurance industry, and formulate industry development strategies and plans; Drafting laws and regulations for insurance industry supervision; Establish regulations for the industry.

2) To examine and approve the establishment of insurance companies and their branches, insurance group companies, and insurance holding companies; Examine and approve the establishment of insurance asset management companies in conjunction with relevant departments; Approve the establishment of representative offices of overseas insurance institutions; Examine and approve the establishment of insurance intermediaries and their branches such as insurance companies, insurance brokerage companies, and insurance adjusters; Approve the establishment of insurance institutions overseas by domestic insurance institutions and non-insurance institutions; Approve the merger, division, alteration and dissolution of insurance institutions, and decide on takeover and designation to accept; Participate in and organize the bankruptcy and liquidation of insurance companies.

3) To review and confirm the qualifications of senior management personnel of various insurance institutions; Formulate basic qualification standards for insurance practitioners.

4) Examination and approval of insurance terms and insurance rates related to the public interest, compulsory insurance and newly developed life insurance types, and the implementation of record management of insurance terms and insurance rates for other types of insurance.

5) To supervise the solvency and market behavior of insurance companies in accordance with the law; Responsible for the management of insurance protection** and supervise the insurance deposit; In accordance with the law and the state's policy on the use of insurance funds, relevant rules and regulations shall be formulated to supervise the use of insurance companies' funds in accordance with the law.

6) Conduct business supervision of policy-based insurance and compulsory insurance; Supervise organizational forms and business activities such as exclusive captive insurance and mutual insurance. Centralized management of insurance industry associations, insurance societies and other industry organizations.

7) Investigate and punish insurance institutions and insurance practitioners for unfair competition and other illegal and irregular acts in accordance with the law, as well as for non-insurance institutions operating or disguised insurance business.

8) To supervise and supervise the insurance institutions established overseas by domestic insurance and non-insurance institutions in accordance with the law.

9) Formulate informatization standards for the insurance industry; Establish an insurance risk assessment, early warning and monitoring system, track and analyze, monitor, and improve the operation status of the insurance market, and be responsible for uniformly compiling the data and statements of the national insurance industry, copying them to the People's Bank of China, and publishing them in accordance with relevant national regulations.

10) In accordance with the relevant provisions and cadre management authority, responsible for the system's party building, discipline inspection and cadre management; Responsible for the day-to-day work of the board of supervisors of state-owned insurance companies.

11) Undertake other matters assigned by ***.

You can take a look at the Insurance Law, there is a special chapter on the supervision and management of the insurance industry.

Through the China Insurance Regulatory Commission, it is managed in accordance with the Insurance Law and other relevant regulations and documents.

1) Publicity and supervision: It means that the state does not directly supervise and manage the entities of the insurance industry, but publishes the financial status of the insurer's operation, so that the public can understand the insurer's business status and make their own independent judgment. (2) Principle supervision:

It refers to the formulation of some basic principles for the state to guide the operation and management of the insurance industry, and to supervise and implement them in form. This form of supervision also does not touch the entities that operate and manage the insurance industry. (3) Entity supervision:

That is, the operating standards of the insurance industry, the establishment system of insurance enterprises, the property supervision and personnel supervision systems, etc., which are stipulated in the form of laws and regulations, and are implemented by the State Insurance Regulatory Authority. This kind of supervision is stricter, more specific, and more comprehensive than the first two types of supervision, and is now appreciated by most countries. According to Article 135 of the Insurance Law of the People's Republic of China, the insurance regulatory authority shall formulate and issue rules on the supervision and administration of the insurance industry in accordance with laws and administrative regulations.

Insurance supervision is mainly divided into on-site supervision and off-site monitoring, usually the insurance regulator will choose to combine the two supervision methods to supervise and manage the insurance industry, so as to achieve the effect of supervision.

1. What are the ways of insurance supervision?

1. Off-site monitoring and public information disclosure.

2. On-site inspection.

2. What are the specific legal bases?

Article 133 of the Insurance Law The insurance regulatory authority shall, in accordance with the duties stipulated in this Law and the provisions of the Insurance Law, and in accordance with the principles of law, openness and fairness, supervise and administer the insurance industry, maintain the order of the insurance market, and protect the legitimate rights and interests of policyholders, insureds and beneficiaries.

Article 134 The insurance regulatory authority shall, in accordance with laws and administrative regulations, formulate and promulgate rules and regulations on the supervision and administration of the insurance industry.

Article 135 The insurance terms and insurance rates of insurance related to the public interest, compulsory insurance in accordance with law, and newly developed life insurance shall be reported to the insurance regulatory authority for approval. The insurance regulatory authority shall follow the principles of protecting the interests of the public and preventing unfair competition when examining and approving the law. The insurance terms and insurance rates of other types of insurance shall be reported to the insurance regulatory authority for the record.

3. Supervision of insurance terms and insurance rates.

The Insurance Law stipulates that the supervision of insurance terms and insurance rates for insurance types is divided into two tracks: approval and filing.

From the perspective of product filing, guarantee insurance products with a term of more than one year no longer need to obtain the approval of the CBIRC in advance, and financing guarantee insurance products do not need to do so. After the operation and use of the guarantee insurance product, the head office of the property insurance company shall be the subject of the product filing and declaration, and file with the CBIRC where the business place of the head office is located (the scope of use of the product exceeds one province, autonomous region or municipality directly under the Central Government) or the CBIRC of the place where the product is used (the product is only used in a certain province, autonomous region or municipality directly under the Central Government). Specifically, the guarantee warranty.

Insurance products first passed through the Insurance Association of China"A platform for self-registration of property and insurance companies' filing products"Submit, the platform automatically reviews the submitted registration materials, registers the complete materials in real time, and the product can be used after the registration is completed; The Insurance Association of China passed the rear"Electronic reporting and management information system for insurance products"Filing with the China Banking and Insurance Regulatory Bureau, and the system will carry out follow-up operations such as filing and issuing filing numbers.

From the perspective of product supervision, financing guarantee insurance products do not need to be supervised by the CBIRC, and guarantee insurance products will be supervised by the CBIRC, and the CBIRC will track and monitor, prevent potential risks, and carry out off-site inspections.

From the approval system to the filing system, the insurance type registration has changed from product approval to autonomous, first-time, and real-time product registration, and the insurance type supervision has also changed from pre-approval to in-process and post-event supervision. Focusing on in-process supervision, the circular requires the CBIRC to take timely regulatory measures against problematic products, and guides the CBIRC to strengthen its in-process supervision of terms, rates, risk control, etc., and continuously improve the professional ability and level of product supervision, such as supervising the use of insurance funds from the aspects of asset-liability matching, information disclosure, and internal control.

Measures to strengthen market supervision in the insurance industry and stop vicious competition:

First, it is necessary to continue to improve the legislation on insurance supervision and the insurance business law; The second is to speed up the establishment of an internal control mechanism for insurance organizations to prevent risks and guard the law of infiltration; Third, it is necessary to establish and improve unified self-discipline rules and social supervision mechanisms for the insurance industry.

1) Improving Insurance Legislation First of all, legislation should clarify the principles, focus, methods and modes of insurance supervision.

The principles of insurance supervision can be considered from the following three aspects:

First, while not hindering the development of insurance business, it is necessary to maintain the stability of the insurance system, that is, to maintain a balance between development and stability;

Second, do not confuse effective risk prevention with risk elimination, that is, not to cancel new insurance products through regulation, but to ensure that the development of these products is based on effective risk management;

The third is to avoid supervision for the sake of supervision, but to curb insurance institutions from taking actions that may affect the stability of the insurance system and harm the interests of policyholders under competitive pressure.

Second, insurance legislation should unify the compulsory insurance and online supervision of motor vehicles for third parties.

Motor vehicle insurance has always been the focus of insurance supervision, and although there are currently 24 provinces, municipalities and autonomous regions that have stipulated the implementation of compulsory third-party liability insurance for motor vehicles, the provisions are different from place to place, and the jurisdiction and application of the case are in conflict, so it is urgent to promulgate unified national regulations to solve the contradiction of legal jurisdiction that cannot be resolved by local regulations, and it is also the need to further improve the insurance legal system and provide a legal basis for substantive supervision for the supervision of the insurance industry;

At the same time, it is also necessary to speed up the improvement of the regulatory system and supervision methods for online insurance publicity and advertising. In view of the advantages of fast dissemination, wide coverage, advanced means, low cost and easy operation of online advertising, online insurance advertising will develop at an astonishing speed, so insurance regulatory legislation should also be extended to this field.

1. The insurance operation has three characteristics: liability, protection and extensiveness.

2. The development of the insurance market requires effective supervision and management of the insurance industry, which is also the need to cultivate, develop, and standardize the insurance market.

3. The development of the insurance industry and the need for opening up to the outside world are the needs of the insurance industry to carry out effective supervision and management of the insurance industry, which is the need to develop the national insurance industry and ensure that it is in line with the international insurance industry.

Due to the different legal systems and historical periods of various countries, the relevant countries have adopted completely different methods for the supervision of the insurance industry, mainly of the following three types: (1) the doctrine of public subjugation and monitoring. Publicity, also known as announcement management, is the most lenient supervision and management method of the insurance industry by the state, and is suitable for countries with strong self-discipline in the insurance industry.

This means that the state does not directly supervise the operation of the insurance industry, but discloses its assets and liabilities, financial results and related matters in the photo register. (2) Normativism. Normative doctrine, also known as standardized management, is a management method in which the state promulgates a series of laws and regulations related to the operation of the insurance industry, requiring all insurers and insurance intermediaries to comply with and formally supervising the implementation.

This approach is applicable in countries where insurance regulations are relatively strict and sound. (3) Ratificationism. Ratificationism, also known as entity management, is a comprehensive and effective supervision and management measure implemented by the national insurance administration on the basis of formulating insurance laws and regulations and in accordance with the powers conferred by insurance laws and regulations.

The content of its supervision involves the establishment, operation, finance and even liquidation of the insurance industry. The content of its supervision is specific and practical, with a clear measurement scale, and it is the most stringent kind of supervision of the insurance industry.

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