Commission On Legal Status Of China Insurance Regulatory

Insurance is a social, highly public sectors. It is also a special industry with operational risks. The insurance industry plays a pivotal role in national economic and social development, and relates to the social stability and development. In recent years, China's insurance industry healthy and rapid development is exceptional. At the same time, the situation that a high percentage of insurance companies operate in debt and the particularity of insurance contracts, decide the necessity and importance of insurance regulation. As a government department to supervise and manage the insurance industry to develop fast and healthy, the implementation of China Insurance Regulatory Commission (CIRC) has a great impact on the entire insurance industry. CIRC has been given a higher legal status, but its independence is still not enough. In practice, CIRC is affected by many factors. Compared to the rapid development of the insurance industry, there is much more little research and innovation of theory about CIRC and there is almost no research about the legal status of CIRC. Meanwhile, the few articles related to the CIRC are mainly discussed in the perspective of public administration. The articles which are explaining, summarizing and analyzing insurance regulation from the legal point and summarizing the basic theory are still few. As the most important and effective government regulatory department, CIRC should make some differences through the government legislation, which is the motive of this article.This article can be divided into introduction, main content and conclusion. The main content can be divided into three chapters.First, patterns of foreign insurance regulators such as Japan,United States and Britain is more mature overview of relevant day. This part will first describe the related concepts and theories of insurance regulation and the legal status. Then it will introduce the model of each country's insurance regulator, especially British's,American's and Japan's insurance regulator model. After that, it will compare the difference among them to introduce the insurance regulatory department of China― the description of the legal status of CIRC. Then paper analyze the legal status of the CIRC and to summarize the deficiencies from five aspects, which are the position, performance of duties, personnel, finance and regulatory immunity of CIRC. Finally, the paper give some legislative proposals about improving the legal status of CIRC. There are five proposals,which are repositioning the status of the CIRC, The key point is focusing on the establishing of responsibility system.