Study On The Deviation And Correction Of Executing Regulatory Power In System Of The Insurance Company Risk Disposal

In recent years,the insurance industry has boomed.While the degree of marketization of insurance industry is increasing,the risk in insurance industry is expanding,too.For example,today,the misuse of insurance funds has caused more risk within insurance companies.In order to promote the continued healthy operation of insurance market,a rational risk disposal system is necessary.A rational regulatory power within this system is necessary,too.If regulators don't use their regulatory power timely or misuse their regulatory power,the orderly development of the insurance industry will be stagnated.Therefore,the operation of regulatory power in the field of insurance company risk disposal needs to be guided and regulated by relevant legislation.According to the theory of economic law,on the one hand,legislation should empower regulators to safeguard legitimate rights and interests of market subjects.On the other hand,legislation should control regulators to prevent the abuse of regulatory power.Following this logic,our legislators have built an insurance legal system that combines empowerment and power control.However,due to some problems,such as the inaccurate standard of starting risk disposal measures,high costs of risk identification,low operability,and lack of supervision from concerned parties,the regulatory power in this area presents a state of insufficient supply beforehand andexcess supply afterwards.In the case of the tookover of ANBANG INSURANCE,ANBANG's problems in market behavior and governance should have been dealt with earlier.On the other hand,it is considered as paternalism that regulators took over this insurance company and used the insurance guarantee fund directly.Generally speaking,the operation of regulatory power has deviated from its orbit,which is preset by legislators.Therefore,how to correct the deviation of regulatory power in risk disposal system is an important issue in follow-up development of the insurance industry.This paper bases on the current legislative framework of our country's insurance company risk disposal system and the status quo of the risk disposal system,and begins with comparison between the ideal role and the real role in the system of insurance company risk disposal.In this paper,I point out the specific reasons that cause the deviation of regulatory power on the legislative level,and then analyze relevant legislative techniques in Britain,the United States and Japan.Based on above discussions,I propose the corrective suggestions on the deviation of regulatory power.This article is based on a logic of "asking questions"--"discovering problems"--"solving problems".There are five chapters,which can be composed of three parts.The first and second chapters constitute the "ask questions" section.The third chapter alone constitutes the "analysis problem" section.The fourth and fifth chapters constitute the "problem solving" section.The first chapter mainly introduces the ideal role of regulatory power in risk disposal system of insurance company.First,I discuss the ideal role of regulatory power in risk disposal system of insurance company.And then,I summarize legal system of regulatory power,and find that the legislative purpose of regulatory power is basically equal to its' ideal role.The second chapter mainly discusses the actual situation of regulatory power in the system of insurance company risk disposal in China.Six cases of risk disposal of insurance companies in China show that the current situation of regulatory power presents insufficient supply beforehand and excess supply afterwards.First,insurance companies,which had problems in solvency,market behavior and governancestructure for a long time,had not been dealt with promptly.Second,the use of risk disposal measures and insurance funds violated original intention of legislators and the fact that no insurance company went bankrupt is too strange.The third chapter mainly discusses reasons why regulatory power deviates from laws.Although the legislators' logic of arranging regulatory power is correct,the problems in practice show that there are still some imperfections in legislation.So,this chapter starts with the status quo.I think the lack of regulatory power in advance is mainly caused by a single standard of starting risk disposal measures,which can not recognize some risks.Furthermore,high cost of risk identification lowered the willingness of regulators to implement risk disposal measures.On the other hands,the surplus ex post regulation is due to the lack of operational control of the relevant legislation,which gave the regulators the huge discretionary space,and the inadequate supervision arrangements,which cannot restrict the regulatory power effectively.The fourth chapter mainly expounds the enlightenment and referential experience of other countries about insurance company risk disposal system.This part begins with summarizing respective legislative experience of Britain,the United States and Japan in the field of insurance company risk disposal.Second,by analyzing comparatively,I come up with some experience,which is beneficial to our country's legislation.To illustrate,these legislation technologies including implementing comprehensive risk identification mechanism,effective information disclosure,technical index of regulatory power measures,giving insurance companies consultation opportunities,and emphasizing the disclosure of regulatory power information.The fifth chapter is a conclusion of the full text.This part puts forward some suggestions on the basis of above discussions.First,the protection of legitimate rights and interests of insurance consumers should be established as the purpose of the insurance company risk disposal legislation.Second,on the one hand,in order to take advantage of the positive effectiveness of regulatory power,legislators should adopt a new standard of starting risk disposal measures and lower the cost of risk identification.On the other hands,refining the implementation procedures of riskdisposal measures and increasing concerned party's supervision over the regulatory right may be some good ways for constraining the regulatory power.The innovation of this paper lies in: First,this paper summarizes the relevant legal documents and typical practices in the field of insurance company risk disposal in our country.Based on it,I explain the existing problems and corresponding legislation problems in the process of executing regulatory power in the risk disposal system of insurance company in China.Second,this paper makes an analysis of the risk disposal legislation of insurance company in Britain,America and Japan,which can provide beneficial experience for relevant legislation in China.Third,this paper proposes some legislative suggestions,which can provide some help for the future legislation of insurance company risk disposal.The deficiency of this thesis lies mainly in the abroad study.First,due to my limited language ability,I adopt legal systems of Britain,America and Japan which have been translated by domestic scholars instead of looking up first-hand literature.Second,due to the length of the article,this paper only summarizes the relevant legislative experience of Britain,America and Japan,.In addition,due to my limited research ability,to some degree,the summary is incomplete.As a result,I cannot show the complete picture of the insurance company risk disposal legislation of these three countries.