What Are the Different Insurance Inspector Jobs?

Insurance organization supervision refers to the state's supervision and management of the organization of the insurance industry, the liquidation of the establishment of insurance companies, the qualifications of insurance practitioners, and foreign insurance companies.

Insurance organization supervision

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Insurance organization supervision refers to the state's supervision and management of the organization of the insurance industry, the liquidation of the establishment of insurance companies, the qualifications of insurance practitioners, and foreign insurance companies.

Chinese name

Insurance organization supervision

Country

Very few countries in the world except the United Kingdom

Object

Corporate body

Types of

Limited company, limited liability company

Content of insurance organization supervision

1. Organizational form ^[1]

At present, with the exception of very few countries and regions such as the United Kingdom, individuals in the world have banned individuals from operating insurance business. Insurance operators must be legal person organizations. Organizations engaged in insurance business include corporate and non-corporate systems. The company system includes joint stock companies, limited liability companies, mutual companies, etc. The non-company system includes insurance cooperatives and other types of mutual aid groups.

2. Approval of establishment of insurance companies

The insurance regulatory systems of various countries stipulate that the establishment of an insurance company must apply to the competent authority for approval, be registered with the administrative department for industry and commerce, and be issued a business license before being allowed to operate. When applying, you must submit proof of capital, as well as relevant articles of association, qualifications of persons in charge, relevant terms, rates, business scope and other documents and information.

3 Liquidation

An insurance company may go bankrupt due to poor management, and may also decide to dissolve or merge with other insurance companies. In normal dissolution or merger, all debts shall be settled or all insurance contracts shall be transferred. When the business is closed due to mismanagement, serious illegality or excessive debt, in addition to the provisions of the bankruptcy law, there are some special liquidation procedures; the insurance authority may send liquidation personnel to directly intervene in the liquidation process, but generally try to help insurance Businesses have improved their operating conditions and protected them from bankruptcy.

4 Regulation of qualifications of insurance practitioners

The supervision of the qualifications of insurance practitioners includes two aspects: on the one hand, senior management personnel and the main responsible persons of insurance companies must meet the qualifications required by the regulatory authority, and before the establishment of the institution, they must report to the regulatory authority for review; Graduates who have worked in insurance and insurance majors or related majors in colleges and universities should account for more than 60%. An insurance company must employ actuarial personnel approved by the China Insurance Regulatory Authority.

National insurance regulations have strict regulations on this. In particular, senior management personnel and principals in charge of insurance companies must have certain qualifications. Those who do not meet the prescribed conditions cannot hold corresponding positions.

5. Supervision of foreign insurance companies

The supervision of foreign-funded insurance companies varies greatly depending on the economic system and system of each country, and the methods of supervision are also very different. Economically developed countries such as the United Kingdom and the United States have strong domestic insurance industries. Most of them have adopted looser open policies towards foreign insurance companies. A few countries have adopted strict restrictive policies, such as Japan. And developing countries have adopted regulatory measures to protect the development of their own insurance industry to restrict foreign insurance companies from entering their own insurance markets.