The Research On The Law And Regulation About Personal Insurance Agents

As an important part of insurance, personal insurance agents have been playing amajor and irreplaceable role in the development of insurance industry. However, they arenow in an increasingly embarrassing situation because of the lack of institution. Recentlywith China’s economic and social transformation, the insurance industry has come to a newphase, but under the circumstances of the financial crisis this problem cannot be neglectedsince it begins to pose a threat to the sustainable and healthy development of insurancebusiness. Actually regulators have noticed this long before and declared that correspondinglaws concerning personal insurance agents should be improved to regulate market accessand norms of behavior, but it is still in discussion. Therefore the researcher is to explore thelaws and regulations about personal insurance agents in the hope of attracting the attentionof insurance companies and insurance regulatory authorities to reexamine personalinsurance agents system, provide them with a better environment for survival anddevelopment and promote the healthy development of China’s insurance industry.Embarking from the general theories analysis, the essay anatomizes profoundly theissues of personal insurance agents in terms of legal status, right protection and moralhazard. To solve the above issues, the essay, in light of the insurance experience of somedeveloped areas and the experts’ ideas, puts forward strategies for the legal regulations ofpersonal insurance agents and makes a blueprint for the future.It is divided into five chapters:Chapter one supplies the fundamental theories about personal insurance agents,including connotation and characteristics of personal insurance agents, theoreticalfoundations and functions of personal insurance agent system and the current legislation.Chapter two touches upon the debate and comment on the legal status of personalinsurance agents. It elaborates the experts’ views, analyzes and comments on those viewsand finally reaches a conclusion and personal view of the researcher.Chapter three gives an analysis of the right protection of personal insurance agents,expounding the right protection of personal insurance agents from the aspects of currentlegislation and survival condition. From the former aspect it concludes the imbalance ofrights and obligations for personal insurance agents. And the questionnaire of their currentsurvival condition indicates a lower socioeconomic position in the society.The title for chapter four is analysis of personal insurance agent’s moral risks, whichrevolves around an in-depth analysis of the symptoms and causes of the personal insuranceagent’s moral risks.Chapter five, the focus of this whole dissertation, ponders on the contemporary lawsand regulations concerning with personal insurance agents in China. Based on systematictheoretical interpretation together with empirical analysis of present situation, this chapter puts forward some suggestions and prospects about those laws and regulations suitable forthe particularities of our country. It is argued that we should look squarely at thetransitory institutional dominance of personal insurance agents, confirms their particularlegal status, so as to steadily progress reforms. After strengthening the regulation ofpersonal insurance agents, straightening out the insurance agency relationship, reformingthe tax systems and forms of commission payment, changing the management ideas ofinsurance company, we can bring about the diversification of personal insurance agentsstep by step.