On September 5, The Paper learned from industry insiders that the "Measures for the Supervision of Liability Insurance Business (Consultation Draft)" (hereinafter referred to as the "Measures") researched and drafted by the Property and Casualty Department of the China Banking and Insurance Regulatory Commission has been soliciting opinions from the industry.
The Measures require that insurance companies should continue to enrich liability insurance products, improve insurance services, raise the level of protection, focus on major strategies, serve the real economy, and actively play the role of liability insurance in participating in social governance, resolving conflicts and disputes, protecting and improving people’s livelihood effect.
An insider told The Paper that the "Measures" reflect the importance of the regulatory agencies on liability insurance. With the development of society, the role of liability insurance in social governance has become more and more obvious.
With the continuous improvement of the rule of law, the liability insurance market has become larger and larger, so supervision has begun to encourage and regulate the development of the liability insurance market.
In addition, everyone used to compete in the field of auto insurance, and the competition has been excessive. Supervision also intends to guide the development of the industry and better promote the development of the insurance industry to the field of non-auto insurance.
The so-called liability insurance refers to the insurance that takes the insured's legal liability to third parties as the subject of insurance.
In terms of operating rules, the "Measures" clearly states that insurance companies whose business scope includes liability insurance can operate liability insurance business.
An insurance company operating liability insurance business shall comply with the solvency regulatory requirements, scientifically evaluate its own risk management and control capabilities and customer service capabilities, and reasonably determine the types and regions of insurance operations.
The development of liability insurance products by insurance companies must not violate insurance principles, public order and good customs, and must not harm the public interests of society and the legitimate rights and interests of insurance consumers.
According to the "Measures", insurance companies should accurately grasp the definition of liability insurance, clarify related concepts and rights and obligations, strictly define the scope of insurable risks, and must not cover the following risks through liability insurance: the insured intentionally creates liability for compensation caused by an insurance accident; criminal Fines, administrative fines; performance obligations; credit risk; risks that will not occur or are determined to occur; speculative risks that have both loss and profit opportunities; other risks specified by the China Banking and Insurance Regulatory Commission.
The "Measures" also specifically lists 7 business activities that insurance companies must not exist when they conduct liability insurance business, including:
(1) Failing to use approved or filed insurance clauses and premium rates in accordance with regulations, including but not limited to changes to approved or filed insurance products through special provisions in the policy, signing of supplementary agreements, etc.;
(2) Exaggerating the scope of insurance coverage, concealing liability exemption, false propaganda, and misleading the insured and the insured;
(3) Substantive underwriting of financing credit risks in the form of guarantee liabilities;
(4) Unfair competition is carried out by means of profit transfer, commercial bribery, etc.;
(5) Making a promise that does not conform to insurance principles;
(6) Use intermediary agencies, industry associations or other organizations to eliminate or restrict competition;
(7) Other acts required by the China Banking and Insurance Regulatory Commission.
The “Measures” emphasizes that insurance companies should clarify the relationship between liability insurance and property loss insurance, credit insurance, guarantee insurance, accidental injury insurance and other insurance types, reasonably determine the insurance types, consciously maintain the order of market competition, and must not harm other insurance companies or consumers Legal rights.
When participating in liability insurance projects organized by government departments at all levels, insurance companies shall strengthen communication with government departments, policyholders, and insured persons, and shall not blindly expand the scope of protection. If they are not covered by liability insurance, they shall not use the name of liability insurance. Underwriting.
As far as service contracts are concerned, the "Measures" require that if liability insurance products provide insurance services, the cost allocated shall not exceed 20% of the signed premium, and the main content of insurance services should be specified in the clauses.
Services beyond the above limit should be provided separately and not included in the premium.
If an insurance company provides insurance services separately, it shall sign an insurance service contract and indicate the service content and service price in the contract.
In addition, insurance companies should formulate a data security management system, strengthen data security management capabilities, and must not disclose the information of the parties to the insurance contract, and must not use the information provided by the parties to the insurance contract to engage in any business that has nothing to do with the insurance business or harm the interests of the insured and the insured activity.
The Paper Journalist Hu Zhiting