China News Service, June 4th. According to the website of the China Banking and Insurance Regulatory Commission, in order to strengthen and improve the product supervision of property insurance companies and consolidate the basis of the product supervision system, the China Banking and Insurance Regulatory Commission recently revised the "Property Insurance Companies Insurance Clauses and Insurance Rates Management Measures" , Formed the "Property Insurance Company Insurance Clauses and Insurance Rates Management Measures (Draft for Comment)" (hereinafter referred to as the "Measures"), and publicly solicited opinions from the public.
The revised "Measures" has 6 chapters and 40 articles, including general rules, clause development and rate determination, examination and approval and filing, supervision and management, legal responsibilities and supplementary provisions.
Compared with the previous revision, the "Measures" has further improved the system and mechanism of product supervision of property insurance companies, and reformed, improved and adjusted the contents of insurance clause rate supervision subjects, company submission objects, examination and approval filing management, and so on.
The "Measures" further strengthened the supervision and management of insurance clause rates, stipulating that the head of the company's clause rate development centralized management department, the person in charge of compliance, and the chief actuary are directly responsible for the clause rate development management, clause review, and rate review. Responsibility, and clarify the handling of violations by the directly responsible person.
At the same time, the company is required to strictly implement the insurance clause rates, strengthen the management and control of clauses and rates, establish a review mechanism for major issues, and conduct timely follow-up assessment and clean-up of the clauses and rates.
The "Measures" further regulates the company's insurance clause rate development and filing behavior, perfects the clause development principle and the rate determination principle, and clarifies the company's clause development review and insurance rate determination review responsibilities.
In addition, the "Measures" also revised and improved other content.
The amendment of the "Measures" is an important measure to improve the product supervision system of property insurance companies, which is conducive to strengthening and improving the product supervision of property insurance companies, standardizing the development of insurance clauses and setting rates of property insurance companies, and further improving the overall quality of insurance products in the property insurance industry .
In the next step, the China Banking and Insurance Regulatory Commission will extensively listen to opinions and suggestions from all parties, further improve and revise the "Measures" based on feedback from all walks of life, and publish them in due course.