China Insurance Regulatory Commission [2006] No.70

All insurance regulatory bureaus and banking regulatory bureaus, insurance companies, commercial banks, joint-stock commercial banks in various countries, postal savings and remittance bureaus of the State Post Bureau, and provincial credit cooperatives:

In recent years, the cooperation between insurance companies and commercial banks has been continuously strengthened, which has played a positive role in broadening the field of insurance services, providing comprehensive financial services and meeting social needs. However, in the process of cooperation between the two parties, there have also been some irregular behaviors, which not only harm the interests of consumers, but also affect the healthy development of their respective businesses. In order to further standardize the bank insurance agency business, prevent commercial bribery, prevent financial risks, and promote the sustained and healthy development of the bank insurance business, according to the Insurance Law of People's Republic of China (PRC), the Law of People's Republic of China (PRC) Commercial Bank and other relevant laws and regulations, the relevant requirements for further standardizing the bank insurance agency business are hereby notified as follows:

First, strengthen the management of agency qualification.

(1) A tier-one branch of a commercial bank engaged in insurance agency business shall obtain the qualification of concurrent insurance agency.

(2) An insurance company shall not entrust a commercial bank that has not obtained the qualification of part-time agency to carry out insurance agency business.

(3) Each part-time agency can establish agency relationship with several insurance companies. A part-time agency shall determine the number of cooperative insurance companies according to its own business development and risk management and control capabilities.

The second is to strengthen the internal management of agency business.

(1) An insurance company shall establish a complete and standardized list of part-time banking insurance agencies, set up a special management department to manage the banking insurance business, strengthen internal management and the construction of relevant systems, and regularly conduct internal supervision and inspection on the implementation of the systems.

(2) Commercial banks engaged in insurance agency business shall be responsible for insurance agency business by special departments or personnel, strengthen the construction of relevant internal control systems, and conduct internal supervision and inspection on the implementation of the systems on a regular basis.

(3) All insurance companies and commercial banks shall, in accordance with the relevant provisions on insurance agency business, establish bank insurance agency business files and record relevant elements and information item by item.

(4) Insurance companies and commercial banks should increase the intensity of electronic construction, improve the electronic operating system and accounting system of banks in insurance agency business, and reduce manual operation.

Third, standardize the management of handling fees.

(1) Insurance companies and commercial banks shall sign cooperation agreements on the basis of equality, mutual benefit, friendly consultation and long-term cooperation, and specify the payment standards of agency fees.

(2) An insurance company shall, in accordance with the financial system, truthfully allocate the agency fees paid to commercial banks. An insurance company shall not pay any fees other than the handling fees stipulated in the cooperation agreement to the agency, outlets or managers in any name or in any form, including business promotion fees and other benefits given in the name of business competitions or awards.

(3) The insurance agency business of a commercial bank shall be accounted for separately, and agency fees shall not be deducted from the premium income. Agency fee income should be fully accounted for, and off-balance-sheet accounting and operation are strictly prohibited. Commercial banks and their staff members shall not ask for or accept other benefits from insurance companies and their staff members other than the handling fees stipulated in the cooperation agreement.

(4) When an insurance company pays agency fees to a commercial bank, it shall issue a unified invoice for insurance intermediary services of commercial banks in accordance with the Notice of People's Republic of China (PRC) State Taxation Administration of The People's Republic of China and China Insurance Regulatory Commission on Relevant Issues Concerning Regulating Invoices for Insurance Intermediary Services (Guo Shui Fa [2004] No.565438 +0).

Fourth, standardize the qualification management of sales staff.

(a) the insurance company shall correctly guide the sales behavior of the bank insurance agency and its business personnel, and shall be responsible for the agency behavior within the scope of authorization according to law.

(2) Staff members of commercial banks who sell insurance products as agents shall receive relevant business training on a regular basis. If the training fee is borne by the insurance company, the number, method, content and training fee standard of the training shall be specified in the cooperation agreement. The training content should include laws and regulations, business knowledge, sales skills and professional ethics, and the annual training time should not be less than the hours stipulated by the regulatory authorities. Where an insurance company entrusts an agency to sell new life insurance products, it shall also conduct special training for sales personnel in accordance with relevant regulations.

(3) Insurance companies should actively guide bank sales agents to take the sales agent qualification examination and obtain the Insurance Agent Qualification Certificate and other qualification certifications required by the regulatory authorities. After June 5438+1October 3 1 2006, bank sales agents who sell investment-linked products, universal products and other products designated by the regulatory authorities must pass the insurance agent qualification examination and obtain the insurance agent qualification certificate.

(4) An insurance company may set up a bank insurance administrator to be responsible for the training, liaison and related services of the insurance business of bank agency outlets. The bank insurance specialist is a full-time employee of an insurance company, and must pass the insurance agent qualification examination and obtain the insurance agent qualification certificate.

Five, standardize product sales

(a) all insurance companies and commercial banks should strengthen the publicity and information disclosure management of insurance products handled by banks. All kinds of publicity materials are uniformly distributed and managed by the head office of an insurance company or its authorized branches. It is strictly forbidden for branches, agency outlets or sales personnel to print promotional materials or change the content without authorization.

(2) Publicity materials shall comprehensively and accurately describe the insurance products according to the insurance clauses, and indicate the business entity, insurance liability, surrender fees, cash value and expense deduction in a prominent position, and shall not exaggerate or disguise the benefits of the insurance contract, promise uncertain benefits or make misleading presentations, and shall not contain false, deceptive or unfair statements. Sales personnel shall publicize the insurance products represented by banks objectively and fairly in the sales process, and shall not mislead or make false propaganda.

(3) Insurance companies should strengthen cooperation with banks, segment the market according to the insurance needs of bank customers and the characteristics of bank sales, and develop diversified insurance products complementary to bank products.

(4) Encourage insurance companies to tap the potential of cooperation with banks, expand the scope of cooperation to online banking, credit cards and off-counter corporate business, and actively explore off-counter sales models, such as financial counters, telephone, direct sales and sales to corporate customers.

Sixth, strengthen supervision and inspection.

(1) All insurance regulatory bureaus and banking regulatory bureaus shall, according to their respective responsibilities, strengthen supervision and inspection, and severely investigate and deal with illegal and unfair competition behaviors such as misleading sales, off-balance sheet accounting, and disorderly listing of expenses.

(2) All insurance companies and commercial banks should strive to provide customers with perfect pre-sales and after-sales services, actively cooperate with local insurance regulatory bureaus and banking regulatory bureaus to handle customer complaints, and effectively protect the legitimate rights and interests of customers.

Seven, strengthen communication and exchanges inside and outside the industry.

(1) All insurance regulatory bureaus and banking regulatory bureaus should urge local insurance industry associations and banking associations to take industry self-discipline measures as soon as possible, establish internal communication and coordination mechanisms, strengthen self-discipline and mutual supervision, * * * maintain the normal order of the banking insurance market, crack down on commercial bribery and curb vicious competition.

(2) All insurance regulatory bureaus and banking regulatory bureaus shall establish a communication mechanism, regularly report the situation and coordinate relevant policies.

This notice shall be implemented as of the date of issuance. If the bank-insurance cooperation agreement signed by an insurance company and a commercial bank does not meet the relevant requirements of this notice, it shall be amended or re-signed in accordance with this notice before September 30, 2006.

Postal savings and remittance institutions, urban credit cooperatives and rural credit cooperatives shall be implemented with reference to this circular.

China Insurance Regulatory Commission (CIRC)

China Banking Regulatory Commission

June 2006 15

According to the above documents, the bank insurance manager should be an employee of the insurance company. In practice, only China Life Insurance does not sign labor contracts because it is a state-owned enterprise. There are different levels of leaders at the top.

put right

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.