| In recent years,the insurance industry has developed rapidly.Various complex products and complex ownership structures have brought difficulties to the supervision of the insurance industry.In the face of challenges,the traditional supervision of the insurance industry has been unable to cope,and it is difficult to fully identify and prevent risks.In this context,penetrating regulation came into being.Penetration supervision means that the regulator determines the full process supervision of the regulatory rules in the form of financial products according to the nature of the financial business and behavior.As a full-process supervision,the penetration regulation of the insurance industry still belongs to the government’s intervention in the market,thus preventing the systemic risks of the insurance industry.Compared with traditional supervision,insurance industry penetration supervision focuses on the essence of insurance products or business behavior,and changes the ability of financial market entities to participate in financial activities.In practice,the penetration regulation of the insurance industry includes three types of operations: capital,asset and debt.Compared with traditional supervision,the penetration regulation of insurance industry has multiple advantages,can effectively cope with the challenges brought by the rapid development of the insurance industry,has institutional advantages,conforms to the principle of substance over form,and meets the inherent requirements of substantive justice.At the same time of producing positive effects,the penetration regulation of the insurance industry is also insufficient,the penetration ability is not strong and the administrative color is strong.In the future penetration regulation of the insurance industry,regulators should not only improve penetration,but also avoid abuse of power,use it prudently,and improve the market for control and the market for managers based on the market dimension of supervision. |
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