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
1. Insurance Regulations in China
2. Insurance Regulation in the United States
3. Insurance Regulations in Canada
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.
China Insurance Regulatory Commission (CIRC) was established in November 18th, 1998.
The sale of
industry in the
United States is
subject to federal
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.
3.2 Provincial Regulation