Insurance License Management Measures

The "Insurance License Management Measures" were reviewed and adopted at the Chairman's Office Meeting of the China Insurance Regulatory Commission on May 11, 2007, and are hereby announced. It will come into effect on September 1, 2020.

Chairman

Wu Dingfu

June 22, 2007

Insurance License Management Measures

Article 1 In order to strengthen the management of insurance licenses, regulate insurance industry licensing activities, and maintain the order of the insurance market, in accordance with the "Insurance Law of the People's Republic of China", the "Administrative Licensing Law of the People's Republic of China", etc. Laws and administrative regulations formulate these Measures.

Article 2 The China Insurance Regulatory Commission (hereinafter referred to as the “China Insurance Regulatory Commission”) is responsible for the issuance and management of insurance licenses.

The dispatched offices of the China Insurance Regulatory Commission shall exercise the power to issue and manage insurance licenses within the scope authorized by the China Insurance Regulatory Commission.

Article 3 The China Insurance Regulatory Commission shall establish an insurance license supervision and management system in accordance with the principles of law, openness, fairness, convenience and efficiency.

Article 4 The following insurance institutions within the territory of the People's Republic of China and the People's Republic of China shall obtain insurance licenses in accordance with the law:

(1) Insurance holding companies and insurance companies operating insurance business Group companies;

(2) Insurance companies and their branches;

(3) Insurance asset management companies and their branches;

(4) Insurance Agencies, insurance brokers, insurance adjusters and their branches;

(5) Part-time insurance agencies;

(6) Other insurance institutions specified by the China Insurance Regulatory Commission .

Article 5 The insurance licenses mentioned in these Measures include the following types:

(1) Insurance company legal person license and insurance business license;

< p>(2) Insurance marketing services license;

(3) Insurance agency business license;

(4) Insurance brokerage business license;

< p>(5) License for operating insurance adjustment business;

(6) License for concurrent insurance agency business;

(7) Legal person license and operation of insurance asset management company Insurance asset management business license.

Article 6 Insurance licenses shall be uniformly designed and printed by the China Insurance Regulatory Commission. Without authorization from the China Insurance Regulatory Commission, no other unit or individual may design, print, issue, collect or detain insurance licenses.

Article 7 The China Insurance Regulatory Commission shall implement hierarchical management of insurance licenses.

Article 8 The dispatched offices of the China Insurance Regulatory Commission are responsible for the delivery and replacement of insurance licenses for the following institutions within their jurisdiction:

(1) Branch offices of insurance companies;

(2) Branches of insurance asset management companies;

(3) Insurance agencies and their branches;

(4) Insurance brokerage institutions and their branches;

(5) Insurance adjustment agencies and their branches;

(6) Part-time insurance agencies.

Article 9 The insurance license records the following contents:

(1) Institution name;

(2) Institution code;

(3) Institutional address;

(4) Institutional business scope;

(5) Institutional geographical scope;

(6) Administrative licensing decision date;< /p>

(7) Date of license issuance;

(8) License-issuing authority.

The insurance license must be stamped with the seal of the China Insurance Regulatory Commission to be effective.

Article 10 Insurance institutions shall implement unified national coding. The China Insurance Regulatory Commission prints insurance licenses according to the codes of insurance institutions.

The institution code of the insurance license shall be permanent. If the items recorded in the insurance license are changed, the validity period expires, or is lost or damaged, and an insurance institution applies for a new license, the new license will continue to use the original agency code.

If an insurance institution changes its nature, moves across regions, or is terminated in accordance with the law, the institution code will automatically become invalid.

Article 11 The contents of the matters recorded in the insurance license shall be consistent with the contents of the administrative licensing decision document.

Article 12 If the China Insurance Regulatory Commission makes a decision to grant administrative licensing and requires the issuance of an insurance license, it shall issue an insurance license to the applicant for administrative licensing.

The China Insurance Regulatory Commission shall send the administrative licensing decision and the insurance license to the administrative licensing applicant at the same time within 10 days from the date the administrative licensing decision is made.

Article 13 The China Insurance Regulatory Commission shall deliver administrative licensing decisions and insurance licenses directly. If direct delivery is difficult, it may be delivered by mail.

If the China Insurance Regulatory Commission directly serves the document, there must be a delivery receipt, and the administrative licensing applicant shall indicate the date of receipt, signature or seal on the delivery receipt. If delivered by mail, proof of mailing must be retained. The mailing date stated on the mailing receipt is the delivery date.

Article 14 If it is difficult for the China Insurance Regulatory Commission to serve the administrative licensing decision directly or by mail, it may serve it by public announcement. If the China Insurance Regulatory Commission announces that the administrative licensing decision has been served, it will be deemed to have been served after 2 months from the date of issuance of the announcement.

Administrative licensing applicants shall obtain an insurance license from the China Insurance Regulatory Commission within 2 months from the date of delivery of the announcement of the decision to grant administrative licensing. If you fail to collect it within the time limit, the administrative licensing decision and insurance license will automatically become invalid.

Article 15 Insurance institutions shall properly keep their insurance licenses.

No unit or individual may forge, alter, rent, lend or transfer an insurance license.

Article 16 Insurance institutions shall place the original insurance license in a conspicuous place in the business premises for inspection.

Article 17 The China Insurance Regulatory Commission shall strengthen the information management of insurance licenses, establish a complete institutional management archive system, and disclose relevant information on insurance licenses in accordance with the law.

Article 18 If the matters recorded in the insurance license change, the insurance institution shall return the original certificate to the China Insurance Regulatory Commission and obtain a new insurance license.

If the changes in the matters mentioned in the preceding paragraph must be approved by the China Insurance Regulatory Commission, the insurance institution shall obtain a new insurance license from the China Insurance Regulatory Commission within 2 months from the date of the approval decision; the changes in the matters mentioned in the preceding paragraph shall not If approval from the China Insurance Regulatory Commission is required, the insurance institution shall obtain a new insurance license from the China Insurance Regulatory Commission within one month from the date of the change.

Article 19: The insurance licenses of the following insurance institutions do not have a set expiration date:

(1) Insurance holding companies and their branches;

( 2) Insurance group companies and their branches;

(3) Insurance companies and their branches;

(4) Insurance asset management companies and their branches.

Except for the above-mentioned insurance institutions, the validity period of the insurance licenses of other insurance institutions shall be in accordance with the relevant regulations of the China Insurance Regulatory Commission.

Article 20: If the insurance license expires and an insurance institution needs to extend the validity of the insurance license, it shall submit an application to the China Insurance Regulatory Commission within the specified time.

The China Insurance Regulatory Commission shall make a decision on whether to grant the extension before the license expires. If the China Insurance Regulatory Commission allows an insurance institution to extend the validity period of its insurance license, the insurance institution shall return the original certificate to the China Insurance Regulatory Commission within 10 days from the date of receipt of the approval decision and obtain a new insurance license.

Article 21 If the insurance license is damaged, the insurance institution shall return the original certificate to the China Insurance Regulatory Commission and obtain a new insurance license.

Article 22 If an insurance license is lost, the insurance institution shall declare it to be invalid in a newspaper designated by the China Insurance Regulatory Commission within 10 days from the date of discovery, and submit a written explanation and relevant materials stating the invalidity to the CIRC. China Insurance Regulatory Commission re-apply.

Article 23 When an insurance institution obtains a new insurance license from the China Insurance Regulatory Commission, it shall submit the following materials:

(1) Documents proving changes in the matters registered in the insurance license (Original and copy);

(2) Letter of introduction or power of attorney from an insurance institution;

(3) Legal and valid identity certificate of the person receiving the license (original and copy) );

(4) Other materials specified by the China Insurance Regulatory Commission.

Article 24 If an insurance institution receives an insurance license or obtains a new insurance license due to changes in license registration items, it shall within 20 days from the date of receipt or collection of the insurance license. An announcement shall be made in a newspaper designated by the China Insurance Regulatory Commission.

The announcement shall include the following contents:

(1) Matters recorded in the insurance license;

(2) Name of the legal representative or person in charge of the insurance institution;

(3) The business scope and operating area of ??the insurance institution;

(4) The residence, postal code and contact number of the insurance institution.

Article 25 An insurance institution shall return its insurance license to the China Insurance Regulatory Commission within 15 days from the date of dissolution, cancellation according to law or declaration of bankruptcy according to law.

Article 26 If any of the following circumstances occurs, the China Insurance Regulatory Commission shall handle the cancellation procedures for the insurance license in accordance with the law and make an announcement:

(1) The insurance license expires Not renewed;

(2) The insurance institution is terminated in accordance with the law;

(3) The insurance license is revoked or withdrawn or the insurance license is revoked in accordance with the law;

(4) Other circumstances stipulated by laws, administrative regulations and the China Insurance Regulatory Commission.

Article 27 The China Insurance Regulatory Commission shall regularly destroy surrendered insurance licenses.

Article 28 If an insurance institution commits any of the following circumstances, the China Insurance Regulatory Commission shall order it to make corrections within a time limit; if it fails to make corrections within the time limit, it shall be fined not more than 30,000 yuan:

(1) ) The contents recorded in the insurance license have changed and the original certificate has not been returned and a new insurance license has not been collected as required;

(2) Failure to report to the China Insurance Regulatory Commission as required after losing the insurance license;< /p>

(3) Failure to place an insurance license in the business premises as required;

(4) Failure to publish an announcement in a newspaper as stipulated in these Measures.

Article 29 If an insurance institution commits any of the following circumstances, the China Insurance Regulatory Commission shall order it to make corrections and impose a fine of not more than 30,000 yuan, and a fine of 5,000 yuan on the directly responsible senior management personnel; this constitutes a crime. If any, criminal liability shall be investigated in accordance with the law:

(1) Forging, altering, renting, lending, or transferring an insurance license;

(2) Using an expired or invalid insurance license of.

Article 30 The relevant periods stipulated in these Measures, except those expressed in months, are calculated in working days, excluding statutory holidays.

Article 31 These Measures shall be interpreted by the China Insurance Regulatory Commission

Article 32 These Measures shall come into effect on September 1, 2007.

The above are the insurance license management measures. For specific application requirements, you can refer to the relevant regulations of the local insurance regulatory agency. You can search for XX Insurance Regulatory Bureau on Baidu (xx is the name of your province), and then call for consultation.

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