Zhongxin.com, May 19, according to the website of the China Insurance Regulatory Commission, in order to further strengthen the supervision of credit insurance and guarantee insurance business (hereinafter referred to as "credit insurance business"), regulate business operations, prevent and resolve risks, protect the legitimate rights and interests of insurance consumers, and promote credit insurance Business continued to develop healthily. Recently, the China Banking and Insurance Regulatory Commission issued the Measures for the Supervision of Credit Insurance and Guarantee Insurance Business (hereinafter referred to as the "Measures").
There are five chapters and thirty-five articles in the "Measures". The main amendments have three major aspects:
One is to further clarify the operating requirements of the financing credit insurance business. For example, it puts forward operational qualification requirements such as docking with the central bank's credit reporting system; further compresses the underwriting limits of the overall and individual performance obligations; clarifies the independent risk control requirements such as core business not to be outsourced; clarifies liquidity management requirements such as quarterly stress testing.
The second is to further strengthen the protection of insurance consumers' rights and interests. For the problem of non-standard sales, put forward requirements such as underwriting and traceability, and strengthen the management of partners; for the problem of high rates, put forward the principle of consumer affordability; for the problem of irregular collection, clearly prohibit the collection of illegal acts and strengthen outsourcing Collection agencies control and formulate requirements such as entry and exit mechanisms. In addition, in order to prevent the risk of illegal fund-raising, the Measures clearly prohibit the provision of credit guarantee business for funds that do not have legal financing service qualifications.
The third is to guide insurance companies to serve the real economy through the system. The "Measures" guides capable and powerful insurance companies to increase their support for financing and credit enhancement of inclusive small and micro enterprises by setting flexible underwriting limits; by adjusting the types of business, the business area of insurance services for the real economy is expanded.
At the same time, in order to resolve the current stock business risks in a orderly and orderly manner, the “Measures” set a transition period of 6 months. For insurance companies that have carried out financing and credit guarantee business but do not meet the operating qualification requirements of the “Measures”, during the transition period, the total amount Measures to control and gradually reduce the balance of liability. After the transition period, insurance companies that do not meet the requirements of the Measures cease to carry out financing credit insurance business (including renewal business).
The revision and release of the Measures are important policy measures for the Banking and Insurance Regulatory Commission to further regulate the business operations of the credit insurance business and prevent business risks. It is also an important institutional arrangement for improving the level of industry risk management and control, which will be conducive to the sustainable and healthy development of the credit insurance business. In the next step, the Banking and Insurance Regulatory Commission will pay attention to the implementation of the "Measures", pay close attention to the implementation effect, increase supervision, and support the introduction of two business operation guidelines for pre-guarantee management and post-guarantee management to continuously improve the company's risk management and control capabilities. Serve the real economy well.