Is crowdfunding insurance company reliable?

Not reliable. The first reason is illegal. Article 6 Insurance business shall be operated by insurance companies established in accordance with this Law and other insurance organizations stipulated by laws and administrative regulations. No other unit or individual may engage in insurance business. Article 8 Insurance, banking, securities and trust industries shall be operated and managed separately, and insurance companies shall be established separately from banks, securities and trust institutions. Unless otherwise stipulated by the state. According to these two provisions of the Insurance Law, only insurance companies can engage in insurance business, and no other unit or individual can handle insurance business.

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Article 1 An insurance company shall meet the following conditions:

(1) The major shareholders are profitable continuously, have a good reputation, have no record of major violations of laws and regulations in the last three years, and have net assets of not less than 200 million yuan;

(2) Having articles of association that conform to this Law and the Company Law of People's Republic of China (PRC);

(3) Having a registered capital that meets the requirements of this Law;

(4) Having directors, supervisors and senior managers with professional knowledge and business experience;

(5) Having a sound organizational structure and management system;

(6) Having a business place that meets the requirements and other facilities related to business operation;

(seven) other conditions stipulated by laws, administrative regulations and the State Council insurance regulatory agency.

Article 69 The minimum registered capital for the establishment of an insurance company is RMB 200 million. The insurance regulatory agency of the State Council may adjust the minimum registered capital of an insurance company according to its business scope and scale, but it shall not be lower than the limit specified in the first paragraph of this article. The registered capital of an insurance company must be paid-in monetary capital. The so-called network platform does not have this qualification. Moreover, such companies are not innovative, and similar companies have existed for a long time. The main types of insurance companies are commercial insurance companies and mutual insurance companies. This so-called crowdfunding insurance actually belongs to the category of mutual insurance. The biggest difference between mutual insurance and commercial insurance is that mutual insurance is not profitable. Shareholders and the insured are a very old insurance method. In fact, mutual insurance has not been developed in China. This year, the China Insurance Regulatory Commission issued the Trial Measures for the Supervision of Mutual Insurance Organizations, which included these requirements.