Practitioners, Insurance Brokers Insurance Assessment Practitioner Regulation

Original Language Title: 保险经纪从业人员、保险公估从业人员监管办法

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Read the untranslated law here: http://www.chinalaw.gov.cn/article/fgkd/xfg/gwybmgz/201303/20130300385437.shtml

Practitioners, insurance brokers insurance assessment practitioner regulation

    (January 6, 2013, China insurance regulatory Commission [2013] 3rd release come into force on July 1, 2013) Chapter I General provisions

    First in order to strengthen the insurance brokerage practitioners in China, insurance assessment institutions management, protect the legitimate rights and interests of policyholders, insured persons and beneficiaries, maintaining the order of insurance market and promote the healthy development of the insurance industry, these measures are formulated.

    Second, China insurance regulatory Commission (hereinafter referred to as the China insurance regulatory Commission) and authorized by the State Council according to the law, persons engaged in insurance brokerage insurance brokers (hereinafter referred to as insurance broker in China), insurance assessment institutions engaged in the business of insurance adjuster personnel (hereinafter insurance assessment practitioners) unified supervision and management.

    Within the mandate of the Agency of the China insurance regulatory Commission CIRC to perform their supervisory duties.

    Article in China insurance brokers, insurance assessment practitioners (hereinafter employees) shall comply with the eligibility conditions under the China insurance regulatory Commission, examination of the organization by the CIRC, China insurance regulatory Commission issued a certificate of qualification, practitioners access to insurance brokers, insurance assessment institutions issuance of practising certificates.

    Qualification exam in these measures refers to practitioner qualification examinations of insurance brokers and insurance assessment practitioners examination; qualifications mentioned in these measures refers to the practitioners qualification certificate of insurance brokers and the insurance adjuster practitioners qualification certificate.

    Article fourth practitioners engaged in insurance brokerage, insurance appraisal business, shall abide by the laws, administrative regulations and the relevant provisions of the China insurance regulatory Commission.

    Chapter II qualifications

    Article fifth personnel engaged in the insurance brokerage business in China by China insurance regulatory Commission for insurance brokers qualifying examinations, obtain the insurance brokerage practitioners qualification certificate.

    Insurance assessment institutions engaged in insurance adjuster personnel should be by the CIRC organizations operating insurance assessment practitioner qualification examinations, obtain the insurance assessment practitioners qualification certificate.

    Sixth enrolment examination staff should have a college degree and complete civil capacity.

    Any of the following circumstances, inadmissible applications:

    (I) concealment of relevant information or provide false materials;

    (Ii) concealment of information or provides false materials, was declared results invalid was not more than 1 year;

    (C) serious breach of examination discipline, announced the examination results is not valid for more than 3 years;

    (D) obtained by fraud, bribery or other improper means qualification was revoked certificate is not more than 3 years;

    (V) financial regulators announced a ban on entering the industry within a certain period, ban period has not expired;

    (F) sentenced to punishment for crimes, and completion of penalty is not more than 5 years;

    (G) laws, administrative regulations and other circumstances as stipulated by the Circ.

    Article seventh personnel participating in examinations, examination, and no circumstances prescribed in the second paragraph of this article sixth, within 20 working days from the date of application for certification, issued by the China insurance regulatory Commission certificate.

    Eighth under any of the following circumstances, cancellation of certificate by the CIRC:

    (A) the certificate is revoked;

    (B) the certificate is revoked;

    (C) the laws, administrative regulations and other circumstances as stipulated by the Circ.

    Nineth certificate has any of the following circumstances, the holder shall apply to Circ alteration, renewal or reissue:

    (A) change of registered particulars;

    (B) impact damage;

    (C) lost.

    Chapter practice management

    Article tenth insurance brokers, insurance assessment institutions should obtain qualifications and no circumstances prescribed in the second paragraph of this article sixth of practitioners in the supervision of insurance intermediaries Circ information system (hereinafter referred to as information systems) in the register with the practice and the issuance of the insurance brokerage practitioners practising certificate and the insurance adjuster practitioners practising certificate (hereinafter referred to as a practising certificate).

    Practising registration changes, insurance broker, insurance assessment institutions should be changed in the information system in a timely manner, and to issue a practising certificate within 3 working days.

    11th a practising certificate shall include the following information:

    (A) the name and number;

    (B) the holder's name, gender, identity document number, photograph;

    (C) the certificate name and number;

    (D) the holder's name;

    (E) the scope of business;

    (Vi) date of issuance;

    (G) the holder organization complaint;

    (VIII) a practising certificate information enquiry telephone number and Web site.

    12th insurance brokers, insurance assessment institutions practising certificate shall not be issued to the following persons:

    (A) persons without a certificate;

    (B) is not of practising registration information system staff;

    (C) persons already handled by other agencies practice registration.

    13th insurance brokers, insurance assessment institutions may delegate did not hold qualifications and practising certificate issued by the Agency of persons engaged in insurance brokerage, insurance appraisal business.

    14th insurance brokers, insurance assessment institutions in China found in violation exists in the operational activities, should be immediately corrected, and to report to the local Office of the China insurance regulatory Commission.

    15th under any of the following circumstances, insurance broker, insurance assessment institutions shall, within 5 working days to withdraw a practising certificate, and practising registration cancelled in the information system:

    (A) the turnover of employees;

    (B) workers certificates cancelled;

    (C) the practice of employees terminated for other reasons;

    (D) insurance brokers, insurance assessment institutions of business, dissolution or for other reasons cannot continue to operate. 16th insurance brokers, insurance assessment institutions in China should be trained to have the basic quality of practice and professional ethics.

    Training should include at least the business knowledge, knowledge of the law and ethics.

    Insurance brokers, insurance assessment institutions may entrust the industry organizations or other bodies organizing training.

    Article 17th practitioners shall produce their practising certificates in business activities.

    18th in China should be in the insurance brokerage, insurance assessment institutions within the scope of authorization to engage in insurance brokerage, insurance appraisal business.

    Fourth chapter activities

    Article 19th employees shall not fabricating and spreading false information or other means to damage the creditworthiness of other institutions, individuals, not false advertising, false advertising or unfair competition actions disturb the market order.

    Article 20th insurance brokerage employees shall not personally engaged in the insurance brokerage business.

    21st insurance brokers in China may not be illegal to engage in insurance business, insurance brokerage agencies or individuals engaged in insurance brokerage.

    22nd in China insurance broker shall not be any of the following acts:

    (A) deception of the insurer and the insured, the insured or the beneficiary;

    (B) concealing important information relating to the insurance contract;

    (C) impede the applicant to fulfil the obligation, or induce does not fulfill the obligation;

    (D) given or promised to the policyholder, the insured or the beneficiary interests other than stipulated in the insurance contract;

    (E) the use of administrative power, position or career facilitation, and other illegal means to force, induce or restrict the insured enters into an insurance contract;

    (Vi) falsification, modification of the insurance contract, or provide false documents for the parties to an insurance contract;

    (G) misappropriation, interception, misappropriation of the premium or premiums;

    (H) use of business facilities for other institutions or individuals seeking improper interests;

    (I) the collusion with the applicant, the insured or a beneficiary defrauds;

    (J) disclose in the insurance brokerage business is aware of the insurer, the insured, the insured's business secret and individual privacy.

    23rd an insurance assessor in China shall not be any of the following acts:

    (A) the parties to an insurance contract with a false record, misleading statement, insurance appraisal report of significant errors or omissions;

    (B) the concealment or fabrication and important information relating to the insurance contract;

    (C) the fraudulent use or allow others to practice in his name on behalf of others;

    (D) the collusion with the applicant, the insured or a beneficiary defrauds;

    (E) made up not of an insured accident or intentionally exaggerated the extent of the loss of insurance accident has occurred;

    (Vi) use of administrative power, shareholder advantage or professional convenience and other improper means to force, induce, limit the insured an insurance adjuster contracts, accepting insurance assessment results or restricting legitimate business activities of other bodies;

    (VII) given or promised to the insurer, the insured, the insured or the beneficiary interests other than the contract;

    (H) use of business facilities for other institutions or individuals seeking improper interests;

    (I) disclose in the business of insurance adjuster knows of the insurer, the insured, the insured or the beneficiary's business secret and individual privacy.

    24th article of any institution or individual shall not detain or disguised cases of detention of qualification certificates.

    The fifth chapter legal liability

    25th by fraud, bribery or other improper means to obtain a certificate of eligibility, revoked certificates, given a warning by the CIRC, and a fine of up to 10,000 yuan.

    26th enrolled others to provide false materials, instead of others taking qualifying examinations, or assist, organize others to cheat in the examination of, and given a warning by the CIRC, and a fine of up to 10,000 yuan.
27th forge, alter, transfer or loan qualification certificate, certificate of practice, given a warning by the CIRC, and illegal gains more than 1 time fined not more than three times, but not more than 30,000 yuan, no illegal proceeds, fines of between 10,000 yuan.

    28th article not made qualification certificate and practice industry certificate of personnel engaged in insurance brokers business of, by China Circ ordered corrected, according to legal, and administrative regulations on related insurance brokers institutions give punishment; legal, and administrative regulations not for provides of, by China CIRC on related insurance brokers institutions give warning, and at illegal proceeds 1 time times above three times times following of fine, but highest not over 30,000 yuan, no illegal proceeds of, at 10,000 yuan following of fine.

    29th insurance assessment agency personnel are not qualifications and practising certificate to engage in insurance business, by the China insurance regulatory Commission ordered corrective action and warning on insurance assessment institutions and illegal gains more than 1 time fined not more than three times, but not more than 30,000 yuan, no illegal proceeds, fines of between 10,000 yuan.

    Article 30th insurance brokers, insurance assessment institutions violating these rules article tenth, 12th and 14th to 16th, 24th article, by the China insurance regulatory Commission ordered corrective action and give a warning, and illegal gains more than 1 time fined not more than three times, but not more than 30,000 yuan, no illegal proceeds, fines of between 10,000 yuan.

    31st practitioners disobey 17th to 21st, 24th article, by the China insurance regulatory Commission ordered corrective action and give a warning, and illegal gains more than 1 time fined not more than three times, but not more than 30,000 yuan, no illegal gains and fines of between 10,000 yuan.

    32nd article insurance brokers practitioners has this approach 22nd article provides behavior one of of, by China Circ ordered corrected, and in accordance with legal, and administrative regulations on the practitioners and the related insurance brokers institutions give punishment; legal, and administrative regulations not for provides of, on related insurance brokers institutions give warning, and at illegal proceeds 1 time times above three times times following of fine, but highest not over 30,000 yuan, no illegal proceeds of, at 10,000 yuan following of fine; on the practitioners give warning, and at 10,000 yuan following of fine.

    33rd article insurance public estimated practitioners has this approach 23rd article provides behavior one of of, by China Circ ordered corrected, on related insurance public estimated institutions give warning, and at illegal proceeds 1 time times above three times times following of fine, but highest not over 30,000 yuan, no illegal proceeds of, at 10,000 yuan following of fine; on the practitioners give warning, and at 10,000 yuan following of fine.

    The sixth chapter supplementary articles

    34th article of the rules take effect on July 1, 2013.

    35th reinsurance brokerage employee management, this approach is not applicable. Article 36th explain these measures by the China insurance regulatory Commission.