Improve The Legal Measures For China's Insurance Regulatory Regime

Being a rising industry, insurance has a promising future in China. To set up a insurance supervision system, which is suitable for the socialist market economy, is vital to the development of insurance industry. Also it is vital to the insurance law system. This article, starting from the fundamental principles of insurance supervision and the market economy, analyses the connotation of insurance supervision.This article summarizes the forming process of China's insurance supervision system and the current situation of the legal system building. It analyses the shortcomings of present strict insurance supervision system, pointing out the direction of a better insurance supervision system.It's an inevitable trend for China's insurance supervision system to strengthen cooperation with international circles and to fulfill China's WTO entry commitments. The advanced international experience is beneficial for China. This article introduces the major international insurance supervision systems and the trend. It lists the combination of the experience of international systems for reference with China's own situation.This article raises the legal countermeasures of improving China's insurance supervision system. By setting up the objective, mode and principles, it gives the suggestion and conception for improving the insurance regulations, setting up information system, self-discipline, complying with the opening insurance situation and the nature of insurance supervision institutes and supervision with monetary industry.In a word, China's insurance supervision system must comply with China's own situation. It must move towards the direction of a loose mode that is centered on paying back, and with lenient regulation-making. Thus the insurance industry can be promoted healthily.