Mutual Insurance Company System Legal Issues Research

Mutual Insurance Companies is a non-profit legal personal organization founded by persons with the same insurance demanding,its object is providing mutual insurance for each other. In foreign countries, mutual insurance company development is relatively mature, but in our country is still in trial stage. The legal system is not perfect, and new upsurge of development of the insurance industry of our country needs to improve the mutual insurance company system and legal supervision. The purpose of this paper is to analyze the legislation of Mutual Insurance Companies in China, and put forward the possibility of the establishment of Mutual Insurance Companies in our country and the possibility of conversion to Mutual Insurance Companies. The main contents are as follows:Firstly, the paper expounds the connotation of mutual insurance company,summarizes that the mutual insurance company is mutual, non-profit,and common characteristics, and describes the kinds of organization forms of the mutual insurance company. It indicates that the mode of operation of mutual insurance company mainly stalls charge premium system, unearned premium system and permanent premium, and points out the advantages and disadvantages of mutual insurance company.Secondly, according to the German "insurance business supervision law, insurance industry law of Japan, the United Kingdom the cooperatives prudential supervision of the provisional rules" and the New York State Insurance Law as the main basis, the paper analyzes the capital, members, and regulatory legislation system in the foreign mutual insurance companies.Again, this paper expounds the mutual insurance company's established system. The main contents include substantive conditions of membership rights and obligations,articles of association of the company, capital system, organization structure and other conditions of the foundation of mutual insurance company; The conditions and procedures of setting up mutual insurance companies include setting up registration andforms of mutual insurance companies and so on.Finally, referring to foreign companies, this paper proposes the feasibility of conversion from our current country joint-stock insurance company to mutual insurance company, and illustrates problems that may exist in the conversion process in which our country joint-stock insurance companies change into mutual insurance company of legal system construction.