How to strengthen the supervision of China s insurance market?

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 accelerate the establishment of an internal control mechanism for risk prevention and compliance with the law of insurance organizations; 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 24 provinces, municipalities and autonomous regions that provide for 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) 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.

China has enacted the Insurance Law to regulate the insurance industry.

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. 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, separation, alteration and dissolution of insurance institutions, and decide to take over and designate acceptance; Participate in and organize the bankruptcy and liquidation of insurance companies.

3. Review and identify the qualifications of senior managers of various insurance institutions; Formulate basic qualification standards for insurance practitioners.

4. Examine and approve the insurance terms and insurance rates of the insurance types related to the benefits of the public, the insurance types that are subject to compulsory insurance according to law and the newly developed life insurance types, and implement record management of the insurance terms and insurance rates of other insurance types. Wait a minute.