Research On The Insurance Regulation Reform In China

Nowadays insurance industry is developing very fast in the world which makes an obvious effect on the economy and politics of the country. It is well known that insurance is a most promising factor in the financial market which is a particular industry managing risk. Whether an insurance company works well will influence the benefits of the insured. Economic globalization and financial freedom have become the key trend of the world development. These changes are also making much influence on the insurance regulation. Many countries are doing research on how to establish and perfect their insurance regulation system. Based on regulation economics, insurance and finance, this article first introduces basic theories of insurance regulation abroad and of our country. Then it describes the situations of insurance regulation and analyzes major problems and their causes. Studies on successful approaches of insurance regulation reforms in developed countries such as the US, Japan and England follows. At last, this article gives some major suggestions on insurance regulation reform of China on the base of learning from the experience of America, Japan and England insurance regulation innovation.Besides the preface the article consists of five chapters, its main content as followed:The preface mainly introduces the chosen topic background of the article and the research meaning, the research mentality and method, the paper's frame, the main innovations and the deficiencies.The first chapter: summary of insurance industry's regulation theories. The foreign part summarizes the insurance industry's regulation reason and aim theories. The civil theory part summarizes the reasons of Chinese insurance industry regulation reform and regulation reform model theory.The second chapter: game theory analysis on insurance regulation. Asymmetric information on insurance market is the main reason for insurance regulation, including between regulation agency and insurers, insurers and insurance agents, insurers and the insured. This type of asymmetric information has a severe bad effect on insurance market. Through the game theory analysis we expect to conclude some proper solutions. The third chapter: present situation, problems and causes of Chinese insurance regulation reform. This chapter analyzes the present situation of insurance industry, the problems and the causes after the regulation reform of Chinese insurance industry.This part has concluded four periods of Chinese insurance industry regulation reform combined with the character of insurance industry. Also it analyzes the present situation such as entering regulation, contract regulation, paying-off ability regulation and insurance premium regulation.The fourth chapter: International experience and illumination of insurance industry's regulation reform. This chapter analyzes Chinese insurance industry regulation reform course and the achievements of the developed market economy country, such as US, Japan and England. On this base, it summarizes the successful experience of developed country regulation reform and the illumination.The fifth chapter: measures to deepen the regulation reform of Chinese insurance industry, which includes perfect regulation system and speeding up the reform of law system, and it has made concrete and effective measures and suggestions to deepen our China's insurance industry regulation reform.In the whole, by using the methods of game theory, new system economics and comparison analysis, the paper summarizes four periods of Chinese insurance industry regulation reform, then analyzes the present situation, problems and causes of Chinese insurance industry's regulation reform and the illumination of successful foreign experience, at the same time points out that under the complicated switching background of Chinese economic system and gradual globalization of international insurance industry, the operating system of Chinese insurance industry can not adapt to the new conditions obviously. To solve these problems,we must deepen the regulation reform of insurance industry, perfect regulation system and speed up the law system reform.Doing research on regulation reform is of great importance for harmonious development of Chinese economy and society.So it has much realistic and academic value.