Study Of Foreign Insurance Institutions Regulatory Law

Since our country joined in WTO, our insurance has begun to mingle with the international insurance system. According to Global Financial Service Commerce Agreement, Our country will undertake some obligations, such as market access and national treatment, etc. Chinese insurance has giant potenciality. A british high executive official said he had found a promised land just as Columbia found a new land, because Chinese insurance market is too large to believe. With the open-up of Chinese insurance market, many foreign insurers has gained entrance to our country. Up to now, 34 foreign insurance institutes have been admitted to deal in insurance business in our country. Another 112 foreign insurers from 19 countries and regions have set up 199 agency institutes in 14 cities, waiting for joining in our insurance market. So how to regulate foreign insurance institutes has become a practical problem. This paper intends to find some legal problems of the regulation rules upon foreign insurance institutes. It mainly explores the problems and looks for some corresponding measures. The paper consists of five parts. Part I deals with the theory of regulating foreign insurance institutes. It includes two points. The first point analyzes the theory of regulation insurance. In general, the reason why the government must regulate insurance is that 'Market failure' and 'Government failure' both need regulation. The second point analyzes why we must regulate foreign insurance institutes. Part n firstly compares foreign insurance institutes regulation system of developed countries, then gets some revelation from them. Part III analyzes the foreign insurance regulation rules of our country. Part IV analyzes the legal problems of the foreign insurance institutes regulation rules. This part mainly expounds four legal problems, including market access legal problems, law transparency problems, national treatment problems, solvency problems and the legal problems in course of insurance internationalization and freedomlization. Part V is the last part, which explains the importance of studing these legal problems .This paper aims at getting better opinions about how to regulate foreign insurance institutes.