What are the measures for compliance management of insurance companies?

In order to standardize the governance structure of insurance companies and strengthen the compliance management of insurance companies, these Measures are formulated in accordance with the Company Law of People's Republic of China (PRC), the Insurance Law of People's Republic of China (PRC), the Regulations on the Administration of Insurance Companies and other laws, regulations and rules. Compliance means that the insurance operation and management behavior of insurance companies and their insurance employees should comply with laws and regulations, regulatory provisions, internal management systems of companies and ethical norms of honesty and trustworthiness.

The compliance risk mentioned in the Measures for the Compliance Management of Insurance Companies refers to the risk of legal liability, financial loss or reputation loss caused by non-compliant insurance management behavior of insurance companies and their insurance employees.

Compliance management refers to the behavior of insurance companies to prevent, identify, evaluate, report and respond to compliance risks by establishing compliance management mechanism, formulating and implementing compliance policies, and carrying out compliance audit, compliance inspection, compliance risk monitoring, compliance evaluation and compliance training. Compliance management is an important part of comprehensive risk management of insurance companies, and it is also a basic work to implement effective internal control.

An insurance company shall, in accordance with the provisions, establish and improve the compliance management system, improve the organizational structure of compliance management, clarify the responsibility of compliance management, build a compliance management system, promote the construction of compliance culture, effectively identify and actively prevent and resolve compliance risks, and ensure the company's stable operation.