China Insurance Regulatory Commission Agency Functions Provided

Original Language Title: 中国保险监督管理委员会派出机构监管职责规定

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(June 30, 2004, China insurance regulatory Commission order 2004 7th release as of August 1, 2004) Chapter I General provisions article to determine agency regulatory responsibilities, improve supervision and administration of the insurance industry, and promote the healthy development of the insurance industry, according to the People's Republic of China insurance law and other laws and administrative rules and regulations, this provision is enacted.
    Second, China insurance regulatory Commission (hereinafter referred to as the CIRC) vertical, unified management of Agency.
    The Agency directly accountable to the China insurance regulatory Commission, in the exercise of regulatory authority within the scope of authority of the Circ.
    Third agency to perform supervisory duties, administration according to law, should be strictly regulated, enhanced services.
    Fourth article sent institutions main perform following regulatory duties: (a) research, and developed and organization implementation area within insurance development planning, guide and promote insurance full, and coordination, and sustainable development; (ii) implementation China Circ of regulations, and according to area within of reality developed related implementation rules and specific approach; (three) monitoring, and analysis area within insurance market run situation, warning, and prevention and resolve insurance risk, and will about major matters timely to China CIRC report;
    (Four) regulatory area within insurance company branch institutions, and insurance intermediary institutions and insurance practitioners of insurance business activities, investigation insurance illegal, and violations behavior, maintenance insurance market order; (five) management area within about insurance company branch institutions and insurance intermediary institutions of established, and change, and revoked, matters; (six) management about insurance terms and premium rate; (seven) management about senior management personnel of served qualification; (eight) China Circ authorized or delegate of other regulatory matters.
    Article fifth Agency in these rules refers to the China insurance regulatory Commission posted to all provinces, autonomous regions, municipalities and cities with municipal authority.
    Insurance institutions in these rules refers to the insurance company and its subsidiaries; insurance company branches in these rules, refers to the insurance company branches, branch, branch, Business Department, Marketing Department.
    Insurance intermediaries in these rules refers to insurance brokers, insurance assessment institutions, insurance agencies and branches of these institutions, as well as for concurrent-business insurance agencies.
    Second chapter institutions management sixth article sent institutions is responsible for area within following in the funding insurance company branch institutions of institutions management work: (a) approved insurance company branch of opened; (ii) approval insurance company Center support company, and support company, and sales, and marketing service of established, and revoked; (three) approval insurance company branch institutions change business places; (four) accepted insurance company branch institutions about merged, and change name, and adjustment business range of written report. Seventh article sent institutions is responsible for area within following insurance intermediary institutions of institutions management work: (a) approval in the funding insurance agent institutions of established; (ii) approval in the funding insurance brokers institutions, and in the funding insurance agent institutions, and in the funding insurance public estimated institutions in area within branch institutions of established; (three) approval insurance agent institutions, and insurance and industry agent institutions use margin; (four) approved insurance and industry agent institutions of agent qualification; (five) management insurance agent institutions and branch institutions, and insurance brokers institutions branch institutions, and
    Insurance assessment institutions branch of the relevant changes.
    Article eighth agencies according to the CIRC's delegate, is responsible for handling area which insurance brokers the establishment of Chinese-funded insurance assessment institutions to apply for, delivery approval documents, and associated licenses.
    Nineth agencies competent to approve the establishment of foreign-funded insurance companies marketing services, and withdraw.
    Article tenth agency responsible for approving the establishment of branches of foreign insurance agencies.
    11th article sent institutions is responsible for area within following institutions related license of issued, and served, and renewal and foreign announcement: (a) in the funding insurance company branch institutions; (ii) in the funding insurance agent institutions and branch institutions; (three) in the funding insurance brokers institutions branch institutions; (four) in the funding insurance public estimated institutions branch institutions; (five) foreign insurance company marketing service; (six) foreign insurance agent institutions branch institutions; (seven) insurance and industry agent institutions.
    Chapter III qualifications for insurance management agency of the 12th article in accordance with the provisions of the China insurance regulatory Commission, is responsible for the area of insurance company branch senior management qualification approval and management.
    13th agency responsible for accomplishment of the following qualifications of senior managers of insurance intermediaries approved: (a) the insurance agency and its affiliates, (ii) insurance broking and insurance assessment institutions branches in the area.
    The delegate Agency of the 14th, according to China insurance regulatory Commission, is responsible for handling insurance brokers, insurance assessment agency senior management personnel qualifications applied for and delivered to the China insurance regulatory Commission's approval decision.
    15th agencies according to the relevant regulations of the China insurance regulatory Commission, responsible for insurance qualification management of the following: (a) the insurance examination, (ii) insurance certificate issuance and management, (iii) monitoring the issue of practising certificates of insurance and management; (iv) insurance qualification for other work.
    Fourth chapter 16th insurance rates management agencies according to the relevant regulations of the China insurance regulatory Commission, is responsible for managing area insurance companies selling insurance products.
    Article 17th agencies overseeing insurance insurance company branches within the jurisdiction provisions, insurance rates, as well as on the implementation of the disclosure of product information.
    The fifth chapter regulatory and non-regulatory agency of the 18th is responsible for the area in the following on-site inspection and off-site supervision: (a) insurance company branches; (b) the insurance intermediary institutions; (c) the local Office of the China insurance regulatory Commission authorized or entrusted to conduct inspections and off-site supervision of other agencies.
    19th Agency shall based on on-site inspection and off-site supervision of examinations, to the bodies referred to in the preceding article by administrative penalties or take other regulatory measures.
    Article 20th agency responsible for 18th submitted covered a variety of business data, financial data and related reviewed information, statistics, analysis, and preparation area of insurance data, reports and analysis, and comply with the requirements to submit reports on their non-spot supervision of the Circ.
    Agency of the 21st should run for the local insurance market status and development trend of study concerned with signs of important and significant matter, tendency, and timely reporting to the Circ.
    Sixth chapter 22nd agency other responsibilities with other area financial regulators and relevant government departments to establish a division of work, communicate, Exchange information, coordinate policies, and constantly improve the environment for the development of the insurance industry.
    Article 23rd agency establishes a provisional charge insurance companies, insurance intermediaries, and illegal acts of persons engaged in the insurance business, insurance intermediary business.
    Article 24th information disclosure within the agencies responsible for the insurance industry, and under the authority of China insurance regulatory Commission, responsible for the area of insurance industry informatization planning and implementation.
    25th within the jurisdiction of agencies responsible for the management and direction of insurance industry association, the Insurance Institute and other industry organizations.
    Article 26th agency insurance provisional is responsible for handling letters and calls of complaints.
    27th agency responsible for insurance regulation in the area of information, records management.
    28th agencies according to the relevant regulations of the China insurance regulatory Commission or the delegate, referred to the China insurance regulatory Commission on administrative reconsideration applications serve the relevant legal instruments, to review and so on.
    Seventh chapter the 29th agency responsible for administrative penalty on the area of any establishment of insurance agencies, insurance intermediaries or illegally engaged in the insurance business, insurance intermediary business actions to administrative penalties.
    30th the following institutions and their employees within the Agency are responsible for the area of insurance law, irregularities in their administrative punishments: (a) insurance company branches, (ii) insurance intermediaries.
    31st article sent institutions made following administrative punishment, should reported China Circ agreed: (a) on insurance company branch institutions sentenced 200,000 yuan above, and on its practitioners sentenced 50,000 yuan above fine; (ii) on insurance intermediary institutions sentenced 100,000 yuan above, and on its practitioners sentenced 30,000 yuan above fine; (three) limit business range, and ordered stop accept new business; (four) revoked except insurance and industry agent license yiwai of related license.
    Agency of the China insurance regulatory Commission shall receive within 20 working days from the date of a written reply. 32nd insurance company branches, insurance intermediaries and their employees in different places the occurrence of violations, violations of Agency in the investigation.
    Agency in charge of investigating the offence should be copied to the Agency, where the violator, processing results.
    Article 33rd sent contractors commissioned by the China insurance regulatory Commission matters, administrative penalties need to be made, shall be made by the China insurance regulatory Commission administrative penalty.
    Article 34th agencies shall, according to the China insurance regulatory Commission requirements, periodic report the implementation of administrative punishments.
    Eighth chapter supplementary articles article 35th of China insurance regulatory Commission adopted regulations authorizing the Agency to comply with the insurance supervisory duties, the agency within the scope of authorization should be supervised in their own name.
    Circ delegate Agency to comply with the insurance supervisory duties, the Agency should be based on the China insurance regulatory Commission on behalf of the implementing regulation. Article 36th agencies according to the China insurance regulatory Commission regulations, according to the actual situation in the area of insurance supervision rules and specific measures, provisions should be made in the context of relevant regulations and CIRC agreed before publication.

    Agency of the China insurance regulatory Commission shall receive within 20 working days from the date of a written reply.
    37th on foreign insurance companies, foreign insurance intermediaries as well as the supervision and administration of representative offices of foreign insurance institutions, otherwise provided by the China insurance regulatory Commission, from its provisions.
    38th article of the provisions interpreted by the China insurance regulatory Commission. 39th article of the regulations come into force on August 1, 2004.
                                                                                                    Circ released April 30, 2001, the Agency of the China insurance regulatory Commission provisional regulations on supervision responsibilities (CIRC [2001]1) repealed simultaneously.

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