Insurance Practitioners Regulation

Original Language Title: 保险销售从业人员监管办法

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Read the untranslated law here: http://www.chinalaw.gov.cn/article/fgkd/xfg/gwybmgz/201303/20130300385423.shtml

Insurance practitioners regulation

    (January 6, 2013, the China insurance regulatory Commission [2013] 2nd announcement come into force on July 1, 2013) Chapter I General provisions

    First in order to strengthen the management of insurance sales in China, 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.

    Article insurance practitioners in these measures refers to the personnel of insurance companies to sell insurance products, including any additional insurance salesmen and insurance agency insurance salesman.

    Article III of the China insurance regulatory Commission (hereinafter referred to as the China insurance regulatory Commission) and authorized by the State Council according to the law, unified supervision and management of insurance sales in China.

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

    The fourth insurance sales employees shall meet the qualification requirements stipulated by the CIRC, China insurance regulatory Commission issued a certificate of qualification, and practising before the insurance company, insurance agency issuance of practising certificates.

    Fifth insurance sales in China engaged in insurance sales, shall abide by the laws, administrative regulations and the relevant provisions of the China insurance regulatory Commission.

    Chapter II qualifications

    Sixth persons engaged in insurance sales in China by China insurance regulatory Commission for insurance sales qualification examination (hereinafter examination), obtain the insurance sales practitioners qualification certificate (hereinafter certificate).

    Persons entered for the examination of the seventh article, 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;

    (Vi) were sentenced for having committed crimes, completion of penalty is not more than 5 years;

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

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

    The Nineth 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.

    Tenth 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.

    11th Agency of the China insurance regulatory Commission in accordance with the local, suitably adjust the qualifying examination candidates within the area of education, the relevant measures shall be formulated separately by the China insurance regulatory Commission.

    Lower education qualifications, work area shall not exceed the jurisdiction of the local Office of the China insurance regulatory Commission.

    Agency of the China insurance regulatory Commission Circ article 12th after filing, rural areas below the county level can be a candidate and autonomous region of minority candidates examinations adopted special policies.

    Chapter practice management

    13th insurance companies, insurance agencies should provide qualifications and no circumstances prescribed in the second paragraph of this article seventh in the supervision of insurance intermediaries Circ information system (hereinafter referred to as information) management practice registration and issue of the practising certificate of insurance practitioners (hereinafter referred to as a practising certificate).

    Practising registration changes, insurance company, insurance agency shall be changed in the information system in a timely manner, and to issue a practising certificate within 3 working days.

    14th 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) where the holder of the insurance company or insurance agent institution name;

    (E) the scope and area of practice;

    (Vi) date of issuance;

    (G) where the holder of the insurance company or insurance agency complaints;

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

    15th insurance companies, insurance agents 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.

    16th of an insurance company, the insurance agency may delegate did not hold qualifications and practising certificate issued by the Agency of persons engaged in insurance sales.

    Article 17th of the holder of a practising certificate to practise geographical working area shall not exceed the certificate provisions.

    18th under any of the following circumstances, insurance company, insurance agency shall, within 5 working days to withdraw a practising certificate, and practising registration cancelled in the information system:

    (A) the turnover of insurance sales in China;

    (B) the qualification certificate of insurance sales in China were cancelled;

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

    (D) insurance companies, insurance agencies out of business, dissolution or for other reasons cannot continue to operate.

    19th insurance sales in China should be on insurance companies, insurance agencies engaged in insurance sales within the Agency's mandate.

    Insurance sales in China engaged in insurance sales should hold practising certificates, insurance agent insurance sales in China and the agent shall inform the customer of the insurance company.

    The fourth chapter management responsibility

    20th of an insurance company, insurance agent insurance sales in China should be established management files, timely, accurate and complete registration of insurance practitioners basic information, training, business conditions, and so on. 21st insurance company, insurance agent insurance sales professionals 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 company authorized insurance agency selling insurance products, insurance agency insurance sales in China should be trained.

    Training should include at least the company's knowledge of insurance products.

    Insurance company, insurance agency can authorize trade organizations or other bodies to organize training.

    22nd insurance companies, insurance agents in China shall publish the relevant insurance sales revenue or other misleading advertising, not to buy insurance as a condition of issuance of practising certificates.

    23rd an insurance company found insurance sales, insurance agency employee exists in the insurance sales violations, should be immediately corrected, and to report to the local Office of the China insurance regulatory Commission.

    24th by an insurance company, insurance agency should regulate insurance sales professionals sales, insurance sales in China is strictly prohibited in the insurance sales activities in any of the following acts:

    (A) the cheating policy holder, 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, or for other institutions or individuals seeking improper interests;

    (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;

    (VIII) delegate agencies or individuals without legal qualifications in insurance sales;

    (I) ways of fabricating and spreading false information damaging rival's business reputation, or otherwise disturb the market order acts of unfair competition;

    (X) leaked in insurance sales, knowledge of the insurer, the insured, the insured's business secret and individual privacy;

    (11) interfere with customers after the customers clearly declined;

    (12) instead of the applicant signed the contract;

    (13) violation of laws, administrative regulations and other provisions of the China insurance regulatory Commission.

    Insurance sales in China of one of the acts specified in the preceding paragraph, by the China insurance regulatory Commission ordered corrective action and related insurance companies can be taken to the public disclosure, regulatory talks to senior management and other regulatory measures.

    25th insurance company shall require insurance agency in China with sales of the company's insurance products, insurance sales, of basic information, training, and so on. 26th an insurance company found that insurance agencies and insurance sales staff sells its insurance products in violation of and should be rectified immediately.

    Insurance agencies and insurance sales in China refuses, an insurer shall immediately terminate the principal-agent relationship with the insurance agency, and report to the local Office of the China insurance regulatory Commission.

    The 27th article of any institution or individual shall not detain or disguised cases of detention of qualification certificates.

    The fifth chapter legal liability

    28th 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.

    29th 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.

    Article 30th 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. 31st article not made qualification certificate and practice industry certificate of personnel engaged in insurance sales of, by China Circ ordered corrected, according to legal, and administrative regulations on the personnel and the related insurance company, and insurance agent institutions give punishment; legal, and administrative regulations not for provides of, by China CIRC on related insurance company, and insurance agent 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 personnel give warning,

    And a fine of up to 10,000 yuan.

    Article 32nd measures of insurance companies, insurance agents in violation of the 13th, 15th, 18th, 20th to 23rd, 27th 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.

    33rd insurance sales practitioners disobey the 17th, 19th and 27th 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. 34th article insurance sales practitioners has this approach 24th article provides behavior one of of, by China Circ in accordance with legal, and administrative regulations on the insurance sales practitioners and the related insurance company, and insurance agent institutions give punishment; legal, and administrative regulations not for provides of, on related insurance company, and insurance agent 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 insurance sales practitioners give warning

    , And a fine of up to 10,000 yuan.

    35th of an insurance company violates these measures set forth in the 25th, 26th, by the China insurance regulatory Commission ordered corrective action and fails to correct it, given a warning and a fine of up to 10,000 yuan.

    The sixth chapter supplementary articles 36th these measures shall come into force on July 1, 2013.

    Promulgated by the China insurance regulatory Commission on July 1, 2006, of the provisions on administration of insurance agents (insurance [2006]3) repealed simultaneously.

    37th reinsurance does not apply to the measures. 38th article of the approach by the China insurance regulatory Commission is responsible for the interpretation.