The Company's Measures for the Administration of Insurance Clauses and Insurance Rates was reviewed and approved by the Chairman's Office Meeting of China Insurance Regulatory Commission on June 3rd, 2005, and came into effect on June 5th, 2006+10. Measures for the Administration of Insurance Clauses and Insurance Rates of Property Insurance Companies Chapter I General Provisions Article 1 In order to improve and strengthen the management of insurance clauses and insurance rates of property insurance companies and encourage property insurance companies to innovate, these Measures are formulated in accordance with the Insurance Law of People's Republic of China (PRC). Article 2 The term "insurance company" as mentioned in these Measures refers to a property insurance company established with the approval of the insurance regulatory agency and registered according to law. The term "branches of insurance companies" as mentioned in these Measures refers to the branches directly managed by property insurance companies. The insurance institutions mentioned in these Measures include insurance companies and insurance company branches mentioned in the preceding two paragraphs. Article 3 China Insurance Regulatory Commission (hereinafter referred to as China Insurance Regulatory Commission) shall supervise and manage the insurance clauses and insurance rates of insurance institutions according to law. The dispatched office of China CIRC (hereinafter referred to as the dispatched office) shall exercise its functions and powers within the scope authorized by China CIRC. Article 4 The insurance clauses and premium rates of insurance institutions shall be reported to China CIRC or its dispatched offices for approval or filing in accordance with these Measures. Article 5 The supervision and management of insurance clauses and insurance rates shall follow the principles of safeguarding social public interests and preventing unfair competition. Article 6 Insurance institutions shall meet the following conditions when drawing up insurance clauses and insurance rates: (1) Clear structure, accurate wording, rigorous expression and easy to understand; (two) the elements are complete and fair, and do not infringe upon the legitimate rights and interests of the insured and do not harm the public interests; (3) Compliance with laws, administrative regulations and the relevant provisions of the China Insurance Regulatory Commission; (4) The insurance premium rate is set reasonably, which does not endanger the solvency of insurance companies and does not hinder fair competition in the market; (5) Other conditions stipulated by the China Insurance Regulatory Commission. Article 7 An insurance company shall strengthen management and guard against risks when drawing up insurance clauses and insurance rates. Insurance companies should actively promote the popularization and standardization of insurance clauses and insurance rates. Chapter II Examination and Approval Article 8 An insurance company shall report the insurance clauses and premium rates of the following types of insurance to the China Insurance Regulatory Commission for examination and approval: (1) The types of insurance subject to compulsory insurance according to law; (2) Other types of insurance related to public interests as determined by the China Insurance Regulatory Commission. The China Insurance Regulatory Commission shall set the scope of insurance approval according to law, and may make adjustments according to the actual situation. Article 9 When an insurance company submits insurance clauses and insurance premium rates for examination and approval, it shall submit the following materials: (1) Application documents; (two) the approval form in duplicate; (3) The text of insurance clauses and insurance rates; (4) Explanatory materials of insurance clauses and insurance rates, including the main features, market risks and operational risks analysis of insurance clauses and insurance rates; (5) An actuarial report on the insurance premium rate signed by the actuary, including actuarial assumptions, methods, formulas and calculation process; (6) A statement by the actuarial responsible person; (7) A statement of legal liability; (8) Electronic texts of all submitted materials; (9) Other materials as prescribed by the China Insurance Regulatory Commission. Article 10 An insurance company that modifies an approved insurance clause or insurance premium rate shall submit for approval in accordance with the provisions of these Measures. Where an insurance company submits a revised insurance clause or insurance premium rate, it shall submit the materials specified in Article 9 of these Measures, as well as the reasons for the revision and a comparative explanation of the contents before and after the revision. Article 11 A branch of an insurance company may adjust the insurance premium rate approved by its head office within the scope stipulated by the China Insurance Regulatory Commission, but it shall be reported to the local agency for approval after the consent of the head office. If the branch of an insurance company adjusts the premium rate reported by its head office, which is beyond the scope stipulated by the China CIRC, it shall be reported by its head office to the China CIRC for approval. Article 12 A branch of an insurance company shall submit the insurance premium rate stipulated in the first paragraph of the preceding article to the local agency for examination and approval. Besides the materials stipulated in Article 9 of these Measures, it shall also submit the official documents approved by the head office. Article 13 Insurance clauses and insurance rates approved by insurance institutions shall be approved by the China Insurance Regulatory Commission or its dispatched offices before they can be used. Chapter III Filing Article 14 An insurance institution shall, within 65,438+00 working days after its operation and use, file a record with the China Insurance Regulatory Commission or its dispatched office. Article 15 An insurance company shall report the insurance clauses and premium rates to the China Insurance Regulatory Commission, and submit the following materials: (1) A filing form in duplicate; (2) The text of insurance clauses and insurance rates; (3) the statement of the legal responsible person; (4) A statement by the actuarial responsible person; (5) Electronic texts of all submitted materials; (6) Other materials required by the China CIRC. Branches of foreign property insurance companies shall report the insurance clauses and insurance rates to local agencies. Article 16 A branch of an insurance company may draw up the insurance clauses and insurance rates of other types of insurance other than those specified in Article 8 of these Measures, or modify the insurance clauses and insurance rates that have been filed by the head office, but it shall be approved by the head office and filed with the local agency. Article 17 A branch of an insurance company shall report the insurance clauses and premium rates to the local agency for the record. Besides the materials specified in Article 15, it shall also submit the official documents approved by the head office. Article 18 The China Insurance Regulatory Commission or its dispatched office shall, within 20 working days from the date of receiving the filing materials, deal with them according to the following circumstances: (1) If the filing materials are incomplete, notify the insurance institution to make corrections within 10 working days; (two) if the filing materials are complete or the insurance institution supplements the materials, the China Insurance Regulatory Commission or its dispatched office shall number and seal the filing form, one for filing and one for returning to the insurance institution. Chapter IV Management of Portfolio Insurance Clauses and Insurance Rates Article 19 An insurance institution may operate and use the portfolio insurance clauses and insurance rates that have been approved or filed without submitting them for approval or filing. Insurance institutions that operate and use portfolio insurance clauses and insurance rates and modify the insurance clauses and insurance rates that have been approved or put on record shall re-submit for approval or put on record in accordance with the provisions of these Measures. Where an insurance institution submits the combination insurance clauses and insurance rates for approval or filing, it shall submit the names of the combination insurance clauses and insurance rates and the model of the insurance policy in addition to the materials specified in these Measures. Article 20 When operating and applying the combined insurance clauses and premium rates, an insurance institution shall separately specify the insurance premium, insurance amount or liability limit corresponding to each insurance clause. Chapter V Legal Responsible Person and Actuarial Responsible Person Article 21 An insurance company shall designate a legal responsible person and an actuarial responsible person to be responsible for the legal and actuarial affairs of insurance clauses and insurance rates respectively. An insurance company shall provide the legally responsible person and actuarial responsible person with the necessary information to undertake their duties, and fully respect the professional opinions of the legally responsible person and actuarial responsible person. Article 22 An insurance company shall obtain the approval of the China Insurance Regulatory Commission for the appointment of legal and actuarial responsible persons. If the legal responsible person or actuarial responsible person is not approved, the China Insurance Regulatory Commission and its dispatched offices will not recognize the legal responsible person statement, actuarial responsible person statement and other relevant reports signed by it. If an insurance company terminates its employment or entrustment relationship with its legal person or actuarial responsible person, the qualification of legal person or actuarial responsible person will automatically become invalid. Article 23 The person in charge of an insurance company as a legal person shall meet the following conditions: (1) Having a domicile in People's Republic of China (PRC); (2) Bachelor degree or above in law, or having a Lawyer Qualification Certificate or a Legal Professional Qualification Certificate; (3) More than 3 years of domestic insurance or legal work experience; (four) in the past two years, he has not been subject to administrative punishment for illegal practice; (5) Having not received criminal punishment; (6) Other conditions stipulated by the China Insurance Regulatory Commission. Article 24 An insurance company applying for the approval of the legal person in charge shall submit the following materials to the China Insurance Regulatory Commission: (1) an application form for qualification examination; (2) A copy of the candidate's identity certificate and residence certificate; (3) a copy of the candidate's academic qualifications and professional qualifications; (4) Other materials as prescribed by the China Insurance Regulatory Commission. Article 25 The conditions that an insurance company's actuarial responsible person should meet and the materials that an insurance company should submit to the China Insurance Regulatory Commission when applying for recognition of the actuarial responsible person shall be stipulated separately by the China Insurance Regulatory Commission. Article 26 The legal responsible person shall be responsible for issuing the statement of the legal responsible person, and bear the following responsibilities for the insurance clauses: (1) Abide by the Insurance Law of People's Republic of China (PRC) and other laws and administrative regulations and the relevant provisions of the China Insurance Regulatory Commission; (two) does not harm the public interests, does not infringe upon the legitimate rights and interests of the insured, the insured and the beneficiary; (three) the contract elements are complete, the text is accurate, the language is popular and the expression is rigorous; (4) Other duties as stipulated by the China Insurance Regulatory Commission. Article 27 The actuarial responsible person is responsible for signing the actuarial report, issuing the statement of the actuarial responsible person, and undertaking the following responsibilities: (1) The actuarial report is complete; (2) The actuarial assumptions and methods conform to the general actuarial principles and the relevant provisions of the China Insurance Regulatory Commission; (3) For products with interest demonstration, the interest calculation method conforms to the general actuarial principles and the relevant provisions of the China Insurance Regulatory Commission; (4) The insurance premium rate is set reasonably, and the result conforms to the principles of sufficiency, appropriateness and fairness; (5) Other actuarial responsibilities as stipulated by the China Insurance Regulatory Commission. Chapter VI Supervision and Administration Article 28 If the insurance clauses and premium rates that have been approved or filed need to be revised, the insurance institution shall re-submit for approval or file in accordance with the provisions of these Measures. Branches of insurance companies use insurance clauses and insurance rates that have been approved or filed by the head office of the CIRC, and there is no need to apply for approval or filing. Article 29 Where an insurance institution adopts an insurance agreement, it shall apply for approval or put on record in accordance with the relevant provisions of these Measures. Article 30 Where an insurance company terminates the employment or entrustment relationship with a legal person or actuarial responsible person, it shall report in writing to the China Insurance Regulatory Commission within 65,438+00 working days from the date of termination of the employment or entrustment relationship. Article 31 If it is found that the insurance clauses or insurance rates filed by insurance institutions violate the provisions of Article 6 of these Measures, the CIRC of China or its dispatched office shall order it to correct or stop its operation and use. Chapter VII Legal Liability Article 32 If an insurance institution fails to submit the insurance clauses and premium rates of the types of insurance that should be submitted for examination and approval in accordance with the regulations, the China Insurance Regulatory Commission or its dispatched office shall order it to make corrections and impose a fine of 50,000 yuan to 300,000 yuan; If the circumstances are serious, the business scope may be restricted, and it may be ordered to stop accepting new business or revoke the insurance business license. Article 33 If an insurance institution commits any of the following acts, it shall be ordered by the China CIRC or its dispatched office to make corrections. If it fails to make corrections within the time limit, it will be fined from 6,543.8+0,000 yuan to 6,543.8+0,000 yuan: (1) Failing to file the insurance clauses and insurance rates of the insurance types that should be filed in accordance with the regulations; (2) Failing to submit relevant reports, statements, documents and materials as required. Article 34 If an insurance institution submits insurance clauses and insurance rates for examination and approval or filing, or submits them to the legal person or actuarial responsible person in charge of examination and approval, deliberately concealing relevant information, providing false information or refusing to provide true information, the China Insurance Regulatory Commission or its dispatched office shall order it to make corrections and impose a fine of 654.38 million yuan to 500,000 yuan; If the circumstances are serious, the business scope may be restricted, and it may be ordered to stop accepting new business or revoke the insurance business license; If a crime is constituted, criminal responsibility shall be investigated according to law. Article 35 The senior managers, legal persons, actuaries and other directly responsible personnel of an insurance institution who are directly responsible for one of the following acts shall be given a warning by the China Insurance Regulatory Commission or its dispatched office according to the circumstances, ordered to be replaced, and imposed with a fine ranging from 20,000 yuan to 6,543.8+10,000 yuan; If the case constitutes a crime, criminal responsibility shall be investigated according to law: (1) failing to submit the insurance clauses and insurance rates of the insurance types that should be submitted for examination and approval in accordance with regulations; (2) Failing to submit the insurance clauses and insurance rates of the types of insurance that should be filed in accordance with the provisions; (3) Failing to submit relevant reports, statements, documents and materials as required; (4) Submitting the insurance clauses and premium rates for examination and approval or filing, or submitting them to the legal person or actuarial responsible person in charge of examination and approval, deliberately concealing relevant information, providing false information or refusing to provide true information. Article 36 If it is found that the insurance clauses or insurance rates filed by insurance institutions violate the provisions of Article 6 of these Measures, the China Insurance Regulatory Commission or its dispatched office shall order it to correct or stop its operation and use, and if it fails to correct or stop its operation and use within the time limit, it shall be fined between 654.38 million yuan and 500,000 yuan; If the circumstances are serious, the business scope may be restricted, and it may be ordered to stop accepting new business or revoke the insurance business license; The senior management personnel and other directly responsible personnel of the insurance institution who are directly responsible shall be given a warning by the China Insurance Regulatory Commission or its dispatched office depending on the circumstances, and be fined between 20,000 yuan and 65,438+10,000 yuan. Article 37 If the legal responsible person violates the provisions of Article 26 and the actuarial responsible person violates the provisions of Article 27, the China Insurance Regulatory Commission shall order him to make corrections and may require him to submit a written examination; Two times in two years in violation of the above provisions, given a warning by the China CIRC according to the circumstances, and impose a fine of 5 thousand yuan; Those who violate the above provisions three times within two years shall be ordered to change by the China Insurance Regulatory Commission, and their qualifications as legal or actuarial responsible persons shall not be approved within two years from the date of discovering their violations. Chapter VIII Supplementary Provisions Article 38 The China Insurance Regulatory Commission and its dispatched offices shall, in accordance with the procedures and time limits stipulated in the Administrative Licensing Law of People's Republic of China (PRC) and the Measures for the Implementation of Administrative Licensing of the China Insurance Regulatory Commission, accept, examine and decide the insurance clauses and premium rates submitted by insurance institutions, and the applications for administrative licenses of legal persons and actuarial responsible persons. Thirty-ninth insurance clauses and insurance rates that have been approved or filed before the implementation of these measures can continue to be used. An insurance institution that changes the insurance clauses and premium rates specified in the preceding paragraph shall re-submit for approval or put on record in accordance with these Measures. Fortieth before the implementation of these measures, the legal liability and actuarial liability qualifications approved by the China Insurance Regulatory Commission shall remain valid. Article 41 The provisions of these Measures on the head office of a property insurance company shall apply to the insurance clauses and premium rate management of branches of foreign property insurance companies. The relevant provisions of the state shall apply to the management of policy export credit insurance clauses and insurance rates respectively. Forty-second branches of property insurance companies of Hongkong, Macau and Taiwan Province in China shall be managed according to the branches of foreign property insurance companies. Article 43 The China Insurance Regulatory Commission shall be responsible for the interpretation of these Measures. Article 44 These Measures shall come into force on June 6+1October 6+1October 6, 2006. Where the relevant provisions previously promulgated by the CIRC are inconsistent with these Measures, these Measures shall prevail; Where there are no provisions in these Measures, its provisions shall apply. Interim Measures for the Administration of Property Insurance Clauses and Rates (China Insurance Regulatory Commission [2000] 149), Notice on the Filing Management of Property Insurance Clauses and Rates (China Insurance Regulatory Commission [2006] 120), Notice on Expanding the Regional Issues of Property Insurance Clauses (China Insurance Regulatory Commission [2002] 60
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