Ningxia Property Insurance Company Compliance Risk Management

Since the reform and opening up, the development of China’s insurance industry has made remarkable achievements. However, as one of three major components of financial industry, the insurance industry in China, its legal risk management theory and practice is weak, legal risk management research on the provincial branch of the insurance exists gap. This article will centre on the development trend of the research industry in corporate legal risk management to explore ideas for risk management theory of provincial branch of the insurance,and then promote the practice of legal risk management.On the basis of defining the concept of legal risk and legal risk management, The article summarizes theory and practice of enterprise risk management at home and abroad. After that, the paper analyze in detail the common and unique legal risks of Ningxia Branch of PICC.Finally,the essay analyzes deficiencies of the company term by term and probe into ways improving its legal risk management.If the provincial branch of property insurance company want to improve the legal level of risk management, This paper argues, should first of all to establish the concept of integration of legal risk management,i.e. identifying, assessing and monitoring the legal risks entirely and systematically from the business scope and then draw up strategy from the target of organize, Finally forming a set of clear responsibilities, balance constraints, sound regulations, and orderly operation of the internal control mechanisms within the company though supervision and control of a chain formed in the course of business.