The insurance clauses and premium rates shall not be changed after approval or filing.
□ Our reporter Zhou Fenmian
The China Banking Regulatory Commission recently issued the newly revised Measures for the Administration of Insurance Clauses and Insurance Rates of Property Insurance Companies (hereinafter referred to as the Measures). Chapter VI of the Administrative Measures consists of 40 articles, namely, general provisions, formulation of terms and rates, examination and approval and filing, supervision and management, legal responsibilities and supplementary provisions. It shall come into force on the date of 202 1, 1 and1.
Compared with the old version, the Administrative Measures has been revised and improved in the aspects of insurance product supervision system and mechanism, business supervision and violation handling.
Approval and filing coexist.
The insurance business operated by insurance companies belongs to franchise business, and the supervision of insurance clauses and insurance rates of insurance companies is directly related to the interests of the majority of policyholders.
Qiang, a professor at northwest university of politics and law University of Economics and Law, believes that the understanding of the Administrative Measures should first be raised to the level of safeguarding public interests, maintaining market order and preventing financial risks. The second is the interpretation of the specific content. An insurance contract is a standard contract concluded unilaterally by an insurance company. It is difficult for the insured to bargain with the insurance company. Therefore, the regulatory authorities should not only supervise the establishment, corporate governance and termination of insurance companies, but also supervise the formulation of insurance clauses and insurance rates of insurance companies.
However, this does not mean that all businesses of insurance companies are subject to exactly the same strict supervision. Strongly speaking, the supervision of insurance companies' business in different countries is inconsistent, and there is very strict supervision. Insurance companies basically have no autonomy in terms of insurance clauses, rates and other contract terms, and Japan is a typical example of this model; There is also very loose supervision, that is, all the terms are set by each company, and this model is also adopted in Britain. Most countries combine leniency with severity.
Ren, secretary-general of china law society Insurance Law Research Association and professor of Beihang Law School, said that there is a legal basis for China to implement the management mode of coexistence of examination and approval and filing of insurance company clauses. The Insurance Law clearly stipulates that the insurance clauses and premium rates of the insurance products related to social public interests, the insurance products subject to compulsory insurance according to law and the newly developed life insurance products shall be reported to the insurance supervision and administration institution of the State Council for approval. When examining and approving, the insurance regulatory agency of the State Council shall follow the principles of protecting public interests and preventing unfair competition. The insurance clauses and premium rates of other types of insurance shall be reported to the insurance supervision and administration institution for the record.
The relevant provisions of the Administrative Measures are consistent with this: "Property insurance companies shall report the insurance clauses and insurance rates of the insurance types involving social public interests and those subject to compulsory insurance according to law to the China Banking Regulatory Commission for approval. The insurance clauses and premium rates of other types of insurance shall be reported by the property insurance company to the China Banking Regulatory Commission or its provincial agency for the record. The specific types of insurance that should be submitted for approval or filing shall be separately stipulated by the China Banking Regulatory Commission. "
"Before the implementation of the examination and approval, it must be approved; After the filing is implemented, it will be reported to the regulatory authorities. " It is strongly demanded that both approval and filing, once completed, must be strictly implemented.
The Administrative Measures clarify that property insurance companies may not operate and use insurance clauses and insurance rates that should be examined and approved without the approval of the China Banking Regulatory Commission. For the insurance clauses and premium rates that should be put on record, the property insurance company shall report to the China Banking Regulatory Commission or its provincial dispatched office for the record within ten working days after operation.