Regulations on the Supervision of Insurance Agency Companies

The establishment of an insurance agency shall meet the following conditions:

1. There are promoters who meet the requirements of laws and regulations.

To set up an insurance agency, there should be corresponding promoters. The number of shareholders who set up a limited liability company is less than fifty, and the number of promoters who set up a joint stock limited company is two to two hundred. According to the Regulations on the Supervision of Professional Insurance Agencies and other laws and administrative regulations, some specific entities, such as institutions, associations and other units or individuals that cannot invest in enterprises, may not become sponsors or shareholders of professional insurance agencies. In addition, in order to avoid opportunistic behaviors such as self-agency, employees of insurance companies should inform their insurance companies in writing when investing in insurance professional agencies; Where directors or senior managers of insurance companies or insurance intermediaries invest in insurance professional agencies, they shall also obtain the consent of the shareholders' meeting or shareholders' meeting in accordance with the relevant provisions of the Company Law.

2. The registered capital reaches the statutory limit.

Registered capital is the total share capital subscribed by all shareholders, and it is also the property basis for insurance agency companies to bear external responsibilities. Countries generally stipulate the minimum registered capital for the establishment of insurance agency companies. China's "Regulations on the Administration of Insurance Agencies" in 2004 requires that the registered capital or contribution of an insurance agency established in the form of a limited liability company shall not be less than RMB 500,000; If it is established in the form of a joint stock limited company, its registered capital shall not be less than RMB1000000 yuan. However, in 2009, the newly promulgated Regulations on the Supervision of Professional Insurance Agencies increased the registered capital. Article 7 stipulates that the registered capital of a professional insurance agency shall not be less than 2 million yuan. The business area is not limited to the insurance professional agency in the province, autonomous region or municipality directly under the Central Government where it is registered, and the registered capital is not less than RMB100000 yuan; The registered capital shall be paid-in monetary capital.

3. There are articles of association that comply with the law.

The articles of association are the basic principles of the company's organization and behavior, and also the basic documents of the company's establishment. It is formulated by the sponsors' shareholders, which regulates the basic issues such as the purpose of establishment, business scope, organizational structure and the way of exercising rights, and is legally binding on the shareholders, board of directors, board of supervisors, general manager and other senior management personnel of the company. The establishment of an insurance agency must have corresponding articles of association.

4. Having qualified chairman, executive director and senior management personnel.

The insurance agency industry has great social influence, and the insurance agency work is also very technical and professional. Therefore, in order to ensure the smooth operation of insurance agencies, managers also need to have rich insurance work experience and professional knowledge. Article 12 1 of the Insurance Law requires that the senior managers of insurance professional agencies should have good conduct, be familiar with insurance laws and administrative regulations, have the management ability required to perform their duties, and obtain the qualifications recognized by insurance supervision and management institutions before taking up their posts. Articles 20 and 2 1 of the Regulation on the Supervision of Insurance Specialized Agencies further clarify that the senior managers of insurance specialized agencies include the general manager, deputy general manager or managers with the same authority and the main persons in charge of branches.

The chairman, executive director and senior management personnel of a professional insurance agency shall meet the following conditions and report to the China Insurance Regulatory Commission for approval: (1) College degree or above; (2) Holding the qualification certificate stipulated by the China Insurance Regulatory Commission; (three) engaged in economic work for more than 2 years; (4) Having the management ability required to perform their duties, and being familiar with insurance laws, administrative regulations and the relevant provisions of the China Insurance Regulatory Commission; (five) honest and trustworthy, good conduct.

5. Have a sound organizational structure and management system.

A sound organization means that an insurance institution must have a sound authority, executing agency and supervising agency. The company's shareholders' meeting or shareholders' meeting is the highest authority, composed of all shareholders, and decides the company's business policy, investment plan and other major issues: the board of directors is the company's executive decision-making body, responsible to the highest authority and supervised by the supervisory body; The board of supervisors is composed of shareholders' representatives and employees' representatives in an appropriate proportion, and supervises whether the actions of directors and senior managers of the company violate laws and articles of association. The three institutions are independent and mutually restrictive, which helps to fully protect the interests of the company's shareholders and ensure that the company independently conducts insurance business according to law.

6. Having a fixed residence suitable for the business scale.

Domicile refers to the company's decision-making body or main business premises. It is the central place for the company to carry out business activities, which has important legal significance and is the basic basis for determining the jurisdiction court, applicable law and service address of company dispute cases. If an insurance agency wants to carry out its activities smoothly, it must also have a workplace and conditions suitable for its business.

7. Having a company name that meets the requirements and software and hardware facilities such as business and finance that are suitable for business development.

The name of an insurance professional agency shall include the words "insurance agent" or "insurance sales", and the brand name shall not be the same as that of the existing insurance intermediaries, unless otherwise stipulated by the China Insurance Regulatory Commission.

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