Regulation Of Insurance Market Competition By Law

Regulation of insurance market competition is the result of the development of modern market economy. It is also necessary for the development of insurance industry. In a rule of law-society, to make and implement market regulation law is a main form that a state uses its power to safeguard fair and free market order by law. At first the paper discusses concerned fundamental theoretical problems, then introduces and analyzes concerned legislations and practices of America. England and Japanese in order to learn from their experiences in regulating monopoly and unfair competition in insurance industry.As far as the problem of monopoly in the insurance industry is concerned, from the standpoint of law interpretation, the decision that Industry and Business Administrative Bureau treated insurance company as monopolist is not unreasonable according to law, but the reason that the entry into insurance industry is strictly prohibited is inadequate. The essence of problem is how to make the meaning of "monopoly" explicit. From the standpoint of legislation, we should learn from American experiences and specify insurance industry exempts from anti-monopoly except the case of boycott. coercion and intimidation.There are many things that don't conform to law system of WTO in our country's nowadays-insurance market competition regulation. Furthermore, there is repeated regulation against unfair competition. In order to resolve the problem of repeated regulation, the regulatory department should comply with the following three principles: the principle of special law superior to general law. the principle that administrative power can not be inferred and the principle that an action can not be punished repeatedly.In a word, after entry into WTO, we must specifically perform agreements concerning insurance and actively deal with challenges from international insurance market, which makes it necessary to continually improve the regulation according to the ideas of market and internationalizing. Only in this way can we overcome the defaults in the nowadays-insurance market regulation system and succeed in the future competition.