Research On Issues Related To The Accountability Of The Insurance Association Of China

The insurance sectoris an important pillar of China's financial industry and plays an increasingly important role in consolidating the ruling foundation, participating in social governance, spreading social risks, resolving social contradictions, relieving pressure on government,guaranteeing social security and stability, among other aspects. As China's socialist market economic system becomes increasingly perfect and the government reform deepens day by day, the Insurance Association of China has undertaken some services that are not being provided by the government and market out of the reason of either reluctance or incapability. The role of the Insurance Association of China will become more and more prominent in boosting asustainable, rapid and sound development of the insurance industry, building a fair and rational market operation order and safeguarding the legitimate interests of member unit. The association's role will also be more evident in protecting the lawful rights and interests of insurance consumers,promoting the institutional reform and innovation of the insurance industry, among other aspects. At present, the theoretical circle home and abroad generally believes that non-profit organizations(NPOs) play an increasingly important role in public governance and have become gradually stronger in fund absorption. Besides, there have been more and more expectations for NPOs to fulfill its missions and more and more voices for holding them accountable. Accountability has become an effective means for NTOs to improve their credibility.In China, insurance associations are classified as non-profit organizations. Similar to other existing non-profit organizations,insurance associations are faced with a number of issues that have impeded their ability to exert the functions on reinforcing self-discipline and right protection, providing services, enhancing communication and publicity, reflected in the way that the accountability subjects fail to fully exercise their rights to enforce accountability, the role of accountability objects are often confused with the responsibility-bearers, there remains a big difference between de facto accountability and de jure accountability,or the procedures for enforcing accountability are unable to manifest the value of fairness and justice, which result from the backwardness of accountability culture, the loss of accountability legal system and the weakness of accountability implementation. Therefore, insurance associations are required to realize the legalization of accountability system, promote the system development, improve internal governance,enhance the capacities for intra-association accountability, maintain a balance among stakeholders and improve the expertise of enforcing accountability externally. Improving the accountability system of insurance associations will help further enhance the dynamics within the organizations and improve their credibility so as to promote the rapid,healthy and sustainable development of the insurance industry in China.