Section 2 Qualification for Employment
Article 20 The senior managers of insurance professional agencies mentioned in these Provisions refer to the following personnel:
(a) the general manager, deputy general manager or management personnel with the same authority of the insurance professional agency;
(two) the main person in charge of the branch of the insurance professional agency.
Article 21 The proposed 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.
Engaged in financial work 10 years or more, can not be restricted by the preceding paragraph (a); Those who have served as senior managers of financial institutions for more than 5 years or have held management positions in enterprises for more than 10 years may not be subject to the restriction in Item (2) of the preceding paragraph.
Article 22 A person who falls under the circumstances specified in Article 147 of the Company Law or one of the following circumstances may not serve as the chairman, executive director or senior manager of a professional insurance agency:
(1) Being a director, supervisor or senior manager of an insurance company or insurance intermediary whose license has been revoked due to violation of law, and having personal responsibility or direct leadership responsibility for the revoked license, it has not been more than 3 years since the date of revocation of the license;
(2) The directors, supervisors or senior managers of financial institutions who have been disqualified by financial supervision and regulation institutions due to illegal or disciplinary acts have not been more than five years since the date of disqualification;
(3) Being prohibited from entering the financial industry within a certain period of time by the financial supervision institution, and the period has not expired;
(4) Being warned or fined by the financial regulatory agency for less than 2 years;
(5) Being investigated by judicial organs, discipline inspection and supervision departments or financial supervision institutions;
(6) Other circumstances stipulated by the China Insurance Regulatory Commission.
Article 23 Without the consent of the shareholders' meeting or the shareholders' general meeting, the directors and senior managers of a professional insurance agency may not hold concurrent positions in an institution with conflicts of interest.
Article 24 Where an insurance professional agency applies to the China Insurance Regulatory Commission for approval of the qualifications of the chairman, executive director and senior management personnel, it shall truthfully fill in the application form and submit relevant materials.
The CIRC of China may inspect or talk with the proposed chairman, executive director and senior management personnel of the insurance professional agency.
Article 25 When the chairman, executive director and senior management personnel of a professional insurance agency are transferred or hold posts at the same level or at a lower level within the professional insurance agency, there is no need to re-approve their qualifications.
If a professional insurance institution dismisses the chairman, executive director or senior manager or agrees to his resignation, his qualifications will automatically become invalid.
A professional insurance agency shall, within 5 days from the date of making a decision, report in writing to the China Insurance Regulatory Commission on the appointment and removal of the chairman, executive director and senior management personnel.
Article 26 If the chairman, executive director and senior manager of a professional insurance agency are prosecuted for economic crimes, the professional insurance agency shall report in writing to the China Insurance Regulatory Commission within 5 days from the date of prosecution to the date of closing the case.
Article 27 Where a professional insurance agency appoints a temporary person in charge under special circumstances, it shall report to the China Insurance Regulatory Commission in writing within 5 days from the date of making the appointment decision. The term of office of the temporary person in charge shall not exceed 3 months.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.