Dissertation > Excellent graduate degree dissertation topics show

Study on the Insurance Supervision Legal System of the People’s Republic of China

Author: YanJiaJia
Tutor: XuWeiDong
School: Jilin University
Course: Civil and Commercial Law
Keywords: Mixed Operation Unified regulatory Separate supervision Functional supervision Solvency
CLC: F842
Type: Master's thesis
Year: 2011
Downloads: 240
Quote: 0
Read: Download Dissertation

Abstract

Based financial integration the financial mixed background of the times, briefly the status quo of China's insurance regulatory legal system is proposed at this stage the problems, and analyze the causes of the problem. A Comparative Study of the insurance regulatory legal system of the United States, China and Japan, the lessons learned from inspiration, take measures to improve the legal system of China's insurance regulators. This paper is divided into five parts. The first part outlines the basic elements of the legal system of insurance regulators. This includes the concept of insurance regulation, the goal of insurance regulation, insurance regulation mode selection. Whole elaborate an overview of the legal system of insurance regulation. The second part discusses the status of the legal system of China's insurance regulators. First comprehensive introduction to the insurance regulatory processes of the legal system. This includes opening up from scratch early stage of development, China's accession to the WTO, the gradual relaxation of the innovative range of insurance market access conditions and insurance products, and ultimately national treatment period, and at this stage of insurance products, domestic insurance companies and foreign insurance companies fair the comprehensive development phase of the competition. Fully reflects the historical development of the legal system of China's insurance regulatory process. Secondly, discusses China's insurance regulatory mode selection. China's insurance regulators to take separate supervision mode, the main use of the means of supervision of market behavior, and gradually take solvency regulation means authorized by the State Council, the China Insurance Regulatory Commission to regulate the insurance activities of the insurance company. The third part discusses the existing problems of the legal system of China's insurance regulators. Financial integration and mixed operations have a tremendous impact on our financial field, as well as China's insurance industry is in a stage of rapid development, China's existing insurance regulatory legal system has been unable to meet the needs of the development of the insurance industry. The reason is that: first, the separation of the regulatory model regulatory loopholes. Large numbers due to the development of financial integration, financial holding company. Purely as a financial regulatory criteria for the classification of different types of financial institutions, cause can not be timely and effective supervision of the financial holding company engaged in a wide range of financial areas, resulting in regulatory issues. These issues include: on the one hand, if the CIRC, the CBRC, CSRC in accordance with the principle of separate supervision, the financial holding company's insurance business, banking business and securities business regulation. Because of the lack of relevant laws stipulates specific scope of regulation and regulatory permissions, so easily lead to the occurrence of the phenomenon of regulatory overlap. On the other hand, if the three regulatory bodies in strict accordance with the rules of the separate supervision division, three regulatory agencies may have the right to be so easy to produce regulatory supervision blank. Second, the lack of effective communication between regulatory agencies. China's Insurance Regulatory Commission, the Securities and Futures Commission, the China Banking Regulatory Commission three regulatory agencies separate supervision, carry out their duties, the supervision and management in their respective areas. In the development of regulatory policy and the implementation of regulatory tasks are often not able to timely communication and coordination of cross-cutting areas prone to conflicts in policy making and regulatory conflict. In order to solve the communication problems, China has been by the China Insurance Regulatory Commission, the Securities and Futures Commission, the China Banking Regulatory Commission a joint meeting of financial regulators, in consultation sought through regular meetings, to solve the communication problems. However, due to the generation of the meeting there is no legal basis for that decision-making does not have enforcement power, there is no specific rules of procedure and conflict resolution. None achieve the purpose of regulating the conflict. Third, our solvency regulatory system is not sound. Create a solvency regulatory system has always been the key to improve the legal system of China's insurance regulatory. However, due to the technical means is not perfect, the objective factors as well as the rapid development of China's insurance industry, and yet not established solvency regulatory system. The Solvency lack specific implementation details, the lack of scientific solvency reference standards, the lack of information the public security system. These problems are solved. Fourth, the legislative body of China's insurance regulatory and legislative process is a bit confusing. Both from the legislative body or the effectiveness of legal norms grade, are in a chaotic state. This is the rapid development of China's insurance industry brought additional problems. We should constantly improve the future reform. The fourth section provides an overview of the legal system of insurance regulation in the United States, Japan. First on the legal system of insurance regulation in the United States. Experienced from free competition, easing regulatory development process to separate supervision and then mixed supervision. U.S. insurance regulatory body is not a national insurance supervision and management institutions, but mainly composed by the federal government and state governments. U.S. insurance regulators two floors regulatory body. The first layer of regulatory body is the Federal Reserve, the main regulatory body for the supervision of the implementation of the financial holding company, and as the coordination of national financial regulators. Its main functions are to comprehensive supervision of financial holding company, in necessary cases, responsible for the supervision exercised final adjudication of a subsidiary of the financial holding company's banking, insurance, securities and other restrictions, mainly played the role of the comprehensive, coordinated regulatory . The regulatory body of the second layer the state governments Insurance Department, is responsible for the supervision of the state insurance companies. State governments Bank Board and Securities Management Committee is responsible for the supervision of banking, securities in the states within. Regulatory mainly include capital reserve standards, solvency margin, use of funds, insurance agents and insurance market, unfair competition behavior. The advantage of this regulatory approach is that it solves the problem of the separate supervision of financial holding companies to take regulatory blind. Financial regulatory system, the Fed has played an effective coordination, integration, the role of macro-control. The shortcomings of this regulatory approach is easy to breed the hidden dangers of unfair competition. Secondly, an overview of the legal system of insurance regulation in Japan. The legal system of insurance regulation in Japan experienced from the initial deregulation, to take separate supervision, and further development to the development of a unified regulatory process by the unified financial regulatory bodies. The main body of the Japanese insurance regulatory order of the Ministry of Finance Insurance Corporation, Financial the renewable Management Committee and the Financial Services Agency. Japan early corrective system for the supervision of the insurance industry. The system will be the insurance company's solvency ratio is divided into three levels. The first level of excellent level, the solvency of the insurance company for the excellent level means having the ability to prevent risks. Insurance regulators simply its regular supervision can be. The second level is likely to have a risk level. Measures for the supervision of such insurance company, insurance regulators will require insurance companies to provide rectification program, the insurance regulatory body to oversee its implementation. The third level with the level of risk. Insurance regulators to force such insurance company operating rectification requirements in accordance with the insurance regulators to correct. And supervision of their provident fund the extraction and shareholder dividends internal activities. Finally, to summarize the successful experience of foreign insurance regulatory legal system to get important revelation. Establish the regulatory legal systems adapt to the development status of the insurance industry that is, to conform to the trends of the times, based on its own national conditions, and replace functionality regulatory agencies regulatory, and constantly improve the solvency regulatory system, and vigorously promote the vigorous development of the insurance industry. The fifth section discusses the relevant measures should be taken to improve the legal system of China's insurance regulators. Summary of the legal system of China's insurance regulatory issues, learn from the successful experience from abroad, and gradually improve the legal system of China's insurance regulators. To keep pace with the trends of the times, and the establishment of a central financial regulators, comprehensive supervision of financial holding companies in the financial mixed background; but also based on its own national conditions and monitored the implementation of the sub-sector in the financial mixed operation is not yet developed regions, and combined the functional supervision means to achieve the purpose of comprehensive and effective supervision and management of the insurance industry. Improve the solvency regulatory system, changing the concept of insurance supervision legislation to strengthen the coordination and cooperation between the domestic and international insurance regulators, and ultimately achieve the scientific supervision, effective regulation, the purpose of promoting the healthy development of the insurance industry.

Study on the Insurance Supervision Legal System of the People’s Republic of China

Abstract

Related Dissertations