Chapter 12 regulation of insurance
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Chapter 12 Regulation of Insurance. Content. 1. Insurance Regulations in China 2. Insurance Regulation in the United States 3. Insurance Regulations in Canada. 1. Insurance Regulations in China. 1.1 The Enactment of Insurance Law

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Chapter 12 Regulation of Insurance

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Chapter 12 regulation of insurance

Chapter 12Regulation of Insurance


Content

Content

1. Insurance Regulations in China

2. Insurance Regulation in the United States

3. Insurance Regulations in Canada


1 insurance regulations in china

1. Insurance Regulations in China

1.1 The Enactment of Insurance Law

On March 3rd 1985, the State Council published theTemporary Ordinance for Insurance Enterprise for enforcement.

Insurance Law of the People’s Republic of Chinawas passed on July 23rd 1995 and was put into force on October 1st of the same year.


1 2 insurance regulatory organizations

1.2 Insurance Regulatory Organizations

China Insurance Regulatory Commission (CIRC) was established in November 18th, 1998.

  • Now the CIRC has its agency structure--the provincial bureau in each province, municipal cities directly under the Central Government (Beijing, Tianjing, Shanghai and Chongqing) as well as in special zones, such as Shenzhen, Zhuhai and Xiamen, etc.


1 3 contents of regulation

1.3 Contents of Regulation

Market admittance

The permission

of establishment

Regulation

Business Regulation


2 insurance regulation in the united states

2. Insurance Regulation in the United States

State

Regulation

Solvency

regulation

Regulation

of business

conduct


2 insurance regulation in the united states1

2. Insurance Regulation in the United States

Federal

Regulation

The sale of

investment-

type Insurance

products.

The securities

industry in the

United States is

subject to federal

regulation


Chapter 12 regulation of insurance

3. Insurance Regulations in Canada

3.1 Federal Regulation

The Insurance Companies Act is the primary

federal law that governs insurance companies.

The Act governs how a federally incorporated insurance company operates. A federal agency, the Office of the Superintendent of Financial Institutions (OSFI) is responsible for overseeing all financial institutions in Canada.


Chapter 12 regulation of insurance

 3.2 Provincial Regulation

  • Solvency

    regulation

  • Regulation of

    business conduct


Chapter 12 regulation of insurance

The End of Chapter 12

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