Study On The Legal Issues Of Foreign Insurance Companies' Supervision In The Financial Crisis

With the opening of domestic insurance industry, it is a necessary requirement to carry out the promise of entering WTO and an inevitable trend of development of the insurance industry that more and more foreign insurance companies have invested in China. Foreign insurance companies have become an important part of the insurance industry in China. In China's accession to the WTO, there were only 18 foreign companies in China's insurance industry. In January 2011 there are 54. We are facing rare chances for development of China's insurance industry as well as tough challenges to China insurance supervision since foreign insurance companies to enter China's insurance market. The financial crisis of 2008, caused a great shock throughout the global financial sector, leading to many foreign insurance companies find themselves in financial crisis. It is inevitable that China insurance industry take a risk in the risk of foreign insurance companies, the adverse impact through the foreign insurance companies in China. In the new situation, how to effectively supervise the foreign insurance companies? How to improve supervision of foreign insurance companies'legal system? It has great significance both theoretically and practically to solve the issues.The method of comparative approach, the method of empirical approach and the method of historical approach are used to research in this''article. In order to prevent foreign capital from impacting and penetrating excessively on the native insurance, the safety and stabilization of native insurance, the vast majority of countries have strengthened the supervision on foreign insurance companies in the world. 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 author gives some useful suggestions to perfect our country's supervision and its legal system on the supervision of foreign insurance companies.This article consists of more than 38 thousand words with five chapters.Part I: the outline of foreign insurance companies'supervision. Firstly the article introduces the concept of foreign insurance companies'supervision. Then the article explains why need to supervise the foreign insure companies. Finally the article analyzes the new challenge of the financial crisis of 2008 to our legal system on the supervision of foreign insurance companies. Part II: analysis on the theory of Insurance Regulation. Firstly the article introduces the three major theories of insurance regulation: Public interest theory of regulation, Private interest theory of regulation and Political theory of regulation; then the article analysis on the three models of insurance regulation; finally the article discusses the contents of insurance regulation.Part III: analysis on foreign insurance regulatory legal system of other countries or region. Firstly the methods of comparison and analyze is used for us to learn the foreign insurance companies regulation system from those countries or region, as UK, U.S, Germany and Taiwan, and then get some revelation from them.Part IV: analysis on the legal system of foreign insurance companies'supervision. This part mainly expounds legal problems, including market access legal problems, law transparency problems, solvency problems and etc.Part V: gives some useful suggestions to perfect our country's supervision and its legal system on the supervision of foreign insurance companies. Some evaluation and suggestion is put forward on the relevant legislation of our foreign insurance companies'supervision.