With the acceleration of economic integration and financial globalization, the internationalization of the global insurance industry is deepening, the integration of insurance markets in various countries is improving, and the international dependence of the insurance industry is increasing. A country's insurance market is increasingly becoming an inseparable and important part of the global insurance market. This internationalization trend of insurance industry makes the development of a country's insurance market very vulnerable to international and domestic politics. Impact and Impact of Economic and Social Development In order to avoid major fluctuations and catastrophe risks in the domestic insurance industry and ensure the safe and healthy development of the domestic insurance industry, countries have formulated policies and measures to comprehensively strengthen insurance supervision. On the one hand, countries have adjusted their macro insurance regulatory objectives accordingly, and regarded the safety and stability of the insurance system as the primary task of insurance supervision. Taken together, insurance supervision in various countries has four basic objectives: first, to maintain public trust in the insurance system and institutional system; The second is to enhance the public's understanding and understanding of the insurance system; The third is to protect the legitimate rights and interests of insurance consumers; Fourth, reduce and combat crimes in the insurance industry. On the other hand, countries have put forward the following requirements for insurance supervision departments by formulating legal systems: first, they should strive to maintain the stability of their own insurance markets; The second is to supervise according to law and fully respect the operational autonomy of insurance institutions; Third, balance and coordinate the interests between consumers and the insurance industry; Fourth, accelerate the reform and innovation of domestic insurance industry; Fifth, it is necessary to enhance the international competitiveness of domestic insurance industry through effective supervision; Sixth, adhere to the principle of marketization and protect fair, just and open competition. Under the guidance of macro-regulatory objectives and legal systems, insurance supervision in various countries has undergone obvious changes. The solvency supervision has been continuously strengthened, and the marketization trend of product supervision has become increasingly obvious. The mixed supervision system is being established. It is generally emphasized that insurance companies should establish information disclosure system, and the popularization and application of electronic information technology has been accelerated.
Two, establish and improve China's insurance supervision system.
Generally speaking, China's insurance regulatory laws and regulations system has not yet adapted to the objective requirements of the development of the insurance industry, and has not yet formed a scientific regulatory index system. The insurance supervision system needs to be further improved. China's imminent accession to the WTO will inevitably lead the domestic insurance industry to be in line with international practice, which objectively requires us to supervise the insurance industry in accordance with international practice.
1. Further establish the objective and concept of open modern insurance supervision.
First of all, we should adjust and improve the regulatory objectives of China's insurance industry from the development trend of global insurance internationalization, strive to safeguard the legitimate rights and interests of insurers and insured, and ensure the healthy, safe and orderly development of China's insurance industry; Comprehensively enhance the international competitiveness of China's insurance industry; Give full play to the role of market mechanism in allocating resources, strengthen government supervision, and give consideration to the efficiency and fairness of insurance market. Secondly, establish and improve an all-round and multi-level supervision and management system with insurance regulatory agencies as the main body, internal control of insurance institutions as the basis, industry self-discipline and social supervision as the supplement, and continuously improve the level of insurance supervision in China. Thirdly, we should adhere to the legal and compliance supervision of the insurance industry, avoid the randomness and blindness of supervision, overcome the short-term supervision behavior of treating the symptoms rather than the root cause, and gradually make China's insurance supervision develop in a standardized, procedural and institutionalized direction. In the content and method of supervision, we should further update our concepts, encourage insurance innovation and reduce the cost of supervision.
At the beginning, the following changes should be gradually realized in the supervision of insurance supervision and inspection: first, from simple business compliance supervision to the direction of paying equal attention to compliance supervision and risk supervision, focusing on risk supervision; Second, from off-site inspection to the combination of on-site inspection and off-site inspection, an effective risk early warning system should be established as soon as possible; Thirdly, from traditional manual inspection to manual inspection and computer inspection, with computer inspection as the main direction; The fourth is to engage in the "innovation" of post-regulatory insurance violations to prevent the development beforehand, correctly guide the innovation activities of insurance institutions, and organically combine insurance supervision and insurance innovation. In addition, according to the requirements of regulatory policies in different periods and the characteristics of insurance institutions, we should look for the best combination point and mode of government insurance supervision and internal control of insurance institutions, effectively integrate insurance regulatory policies into the work of improving internal control and strengthening management of insurance enterprises, and strive to improve the effectiveness of supervision.
2. Improve China's insurance regulatory laws and regulations system as soon as possible.
With the rapid development of China's insurance industry and the acceleration of China's accession to the WTO, the existing insurance laws and regulations have obviously failed to meet the development requirements of China's insurance industry in many aspects. Therefore, the existing insurance legal system should be revised and enriched in time, and a set of insurance laws and regulations with China characteristics and in line with international practice should be formed as soon as possible, so as to create conditions for insurance companies to operate according to law and insurance regulatory authorities to supervise according to law. The establishment and operation of foreign-funded insurance institutions and the change of international insurance supervision trend after China's entry into WTO should promptly revise the insurance law, formulate corresponding laws and regulations as soon as possible, comprehensively clean up the contents inconsistent with the basic principles of WTO and foreign commitments, give full play to the guiding and safeguarding role of the insurance law, and provide a fair and just competitive environment for the healthy development of the insurance industry. At the same time, it is necessary to strengthen the supervision of insurance law enforcement, adhere to administration according to law, and strive to improve the level of insurance law enforcement.
3. Efforts should be made to improve the ways and means of insurance supervision.
First, further strengthen the solvency supervision of insurance companies. At the same time, the minimum capital adequacy ratio system, asset-liability evaluation system and insurance guarantee fund system should be comprehensively used to improve the solvency supervision index system, so that strict solvency supervision will gradually become the core of insurance supervision, maintain the stability of the insurance industry and effectively protect the legitimate rights and interests of the insured.
The second is to promote the informatization construction of the insurance industry, establish and improve the insurance supervision information system, formulate and improve the whole industry informatization construction plan and specific information standards, build an open China insurance information network, improve the insurance supervision information system, timely disclose the business operation and risk status of insurance institutions, make full use of modern electronic means, improve the way and speed of information transmission, increase information transparency and accuracy, and strengthen real-time supervision of insurance risks. The risk early warning index system should have strict risk control, regular risk monitoring, timely risk reporting and prudent risk assessment, and put forward plans to prevent and resolve insurance risks according to different regulatory responsibilities, so as to properly handle insurance risks.
Third, according to the principle of international prudential supervision, strictly control the market access of insurance institutions, optimize the system of insurance institutions, strictly control the market access standards of foreign-funded companies, and reasonably grasp the scale and speed of development of foreign-funded insurance institutions; At the same time, it is necessary to establish a strict market exit mechanism, resolutely eliminate companies with serious solvency, and prevent the outbreak of industry risks.
Fourthly, the prevention of moral hazard should be raised to a proper level, and the supervision of the positions, behaviors and professional ethics of senior managers of insurance institutions should be paid attention to, the access of senior managers of insurance institutions should be strictly controlled, the exit mechanism of senior managers of insurance institutions should be established, and the system of conversation and avoidance and the index system of performance monitoring and evaluation should be established to prevent moral hazard.
Fifth, strengthen the construction of supervision team and improve the supervision responsibility system. Through selection and training, we will strive to improve the quality of supervisors and cultivate a high-quality supervision team. Clarify and improve the supervision responsibility system, earnestly carry out internal audit and supervision, seriously investigate and deal with serious violations in supervision, strengthen the re-supervision of insurance supervision, and ensure the fairness and effectiveness of insurance supervision.
4. Strengthen the supervision of state-owned insurance companies.
Combine the supervision of the insurance regulatory authorities with the supervision and inspection of the board of supervisors of financial institutions, strengthen the supervision and inspection with financial supervision as the core, combine the annual regular inspection with the special inspection, and focus on the special inspection to promote the state-owned insurance companies to operate in compliance with the law. The board of supervisors of state-owned insurance companies should strengthen contact with the insurance regulatory authorities, inform each other of relevant information and situations, further improve the supervision mechanism of state-owned insurance companies, improve the supervision efficiency of state-owned insurance companies, form a supervision system combining insurance regulatory authorities with the board of supervisors of state-owned insurance companies, and embark on a new way of insurance supervision with China characteristics.
5. It is necessary to strengthen the internal control of insurance institutions and the industry self-discipline mechanism.
Internal control of insurance institutions is the basis of government insurance supervision. At present, there are still various problems in the internal control of insurance institutions in China. The internal control of individual insurance institutions is still far from perfect, lacking necessary internal supervision and restriction. We should learn from international experience and constantly strengthen various internal management mechanisms in accordance with the requirements of the Guiding Principles for the Construction of Internal Control System of Insurance Companies. Basic management system and internal supervision system, especially to strengthen the management of insurance funds, strictly separate the use of funds from insurance business, and establish an independent and effective investment decision-making mechanism, investment risk assessment mechanism and investment behavior supervision mechanism to effectively prevent and resolve insurance risks. At the same time, in order to speed up the construction of insurance self-regulatory organization system, insurance industry associations should give full play to their functions of self-management, self-service and self-supervision, carefully guide and supervise their members to implement various policies and regulations, abide by industry rules, and strive to stop unfair competition among insurance institutions, thus becoming an effective supplement to government supervision departments.
6. Strengthen on-site inspection with the help of intermediaries.
Due to the constraints of the quality of insurance information disclosure, regulatory costs, regulatory resources and other factors, insurance regulatory information often has certain errors with the actual situation. In order to ensure that insurance supervision plays its due role, we should also check the financial statements and accounting records of insurance institutions with the help of independent auditing and other intermediary departments, so as to further analyze the asset quality and risk status of insurance companies and enhance the legal effect of identifying illegal facts.
7. Strengthen domestic and international cooperation in insurance supervision.
With the intensification of insurance competition and the development of insurance informatization, the trend of mutual penetration among insurance, banks and securities is accelerating, resulting in the problems of regulatory overlap and regulatory vacuum. The securities industry should coordinate and cooperate with other regulatory authorities, conduct regular business consultations and exchange regulatory information, so as to solve the problem of separate supervision under the trend of mixed operation, support insurance companies to expand their business, strengthen exchanges and cooperation with insurance regulatory authorities in various countries, actively join international insurance regulatory organizations, earnestly study the advanced experience of foreign insurance supervision, keep abreast of the latest development trend of international insurance supervision, and accelerate the pace of integration with international insurance supervision.
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