1. Supervision of market access and exit: Insurance institutions shall be established and registered according to law, and operate insurance business accordingly.
2. Supervision of insurance business: Here, the scope of insurance business, insurance rates and insurance clauses, vicious competition of insurers, protection of reinsurance business and national insurance industry, and provisions on underwriting liability limits are supervised.
3. Supervision of insurance finance: This includes minimum solvency, various insurance reserves, provident fund and the use of funds by insurance companies.
4. Supervision of insurance intermediaries: insurance agents, insurance brokers and insurance assessors.
The significance of insurance supervision:
The strict supervision of the insurance industry by the state is also the need to cultivate, develop and standardize the insurance market. The insurance market develops with the development of commodity economy. It consists of three elements: buyer, seller and intermediary, and has a process of emergence, development and maturity. The strict supervision of the insurance industry by the state is conducive to standardizing insurance activities according to law, creating and maintaining an equal competition environment, preventing blind competition and destructive competition, and is conducive to the development and maturity of the insurance market.
One of the elements of insurance is that a large number of economic units must be assembled to effectively spread risks. Therefore, the number of insured people is large and the coverage is wide. As mentioned above, insurance management is highly professional and technical, and insurance requires specialized knowledge, which is often lacking by ordinary members who participate in insurance. The strict supervision of the insurance industry by the state is also determined by the technical and professional characteristics of insurance management and insurance industry.
The above contents refer to Baidu Encyclopedia-Insurance Supervision.