Research On Internal Contral System Of China's Life Insurance Company

In the current world economic globalization is accelerating the pace of the information age against the backdrop of full arrival, no internal control risk transmission and amplification is more subtle and fast, its businesses are also more destructive. Entered in 2008, the 21st century, the first global financial crisis has given us a wake-up call, internal control, the importance of building on the enterprises, especially for high-debt high-risk financial companies, is the can not stress as excessive.On Enterprise Internal Control System of a long time, but until 1992, with the United States, "Treadway Commission" of the "Internal Control - Integrated Framework" (referred to as COSO internal control framework) released only marked the company's internal control theory developed to a new stage, resulting in a more scientific and complete framework for system; entered in 2002, the U.S. Congress for the introduction of successive cases of fraud occurred in the "Sarbanes - Oxley Act" and its harsh almost 404 terms, etc. the law makes the enterprise internal control system in the U.S. business community has been unprecedented attention on a global scale is also a cause for great concern. Specific to the insurance field, mid-2002 the International Association of Insurance Supervisors (IAIS) will be classified as internal control, one of the core principles of insurance supervision, the Chinese Insurance Regulatory Commission in early 2006 has also introduced a "life insurance company's internal control evaluation methods (for Trial Implementation)", etc. regulatory policies, and the State Council, four ministries and commissions jointly issued in 2008 Nianxia the "basic norms of internal control," a series of systems provide enterprise internal control system of China's life insurance building and strengthening the system to make a strict requirement, effectively promoted the life insurance industry, the continuous deepening of the internal control theory and development.Life insurance industry as a business and personal risk, to provide physical protection of special financial services industry in recent years, progress has been made in our country's development, a harmonious socio-economic development and people's leisure provided a strong insurance coverage, has played a positive stabilizing role. However, the rapid development of industrial scale, the life insurance enterprise's own risk management and control put forward higher requirements. China's current life insurance industry is still in early stages of development, most life insurance companies has not been formed in line with its own operating characteristics, the more mature sound internal control of the construction and evaluation of improved systems, mainly for the business more control vulnerability, risk prevention measures are not in place pairs of branches the lack of strong regulatory control and supervision, and management system, lack of innovation in terms of constraints of their own development, thereby also affecting the life insurance industry, the internal control system as a whole. Against the status quo, life insurance industry needs in the supervision department under the guidance of active steps to strengthen its internal control system, internal control theory for continuous research and theoretical explorations to enhance the practice, continued to strengthen its internal control building, with a view to really set up in line with life insurance enterprise's own law of development, and life insurance companies for the actual operation of specific internal control system, so as to enhance prevention and control of the overall risk of life insurance companies the ability to promote the sustained and healthy development of the industry.