Countermeasures To Make Up The Short Board Of China’s Insurance Regulatory System

Insurance industry,banking industry and securities industry together constitute the three pillars of the financial system,is an important part of China’s modern financial system.In recent years,with the development of the insurance industry,its status and role in the national economy has been constantly upgraded,effectively promoting the transformation of China’s financial system to a multi-level,multi-pillar.In 1998,the China Insurance Regulatory Commission(hereinafter referred to as the China Insurance Regulatory Commission,CIRC)was established to supervise and administer the national insurance market in accordance with laws and regulations,maintain the legal and steady operation of the insurance industry,and gradually explore the formation of China’s Insurance Regulatory system.In recent years,the CIRC has paid more and more attention to the system construction.It has formulated and issued a number of long-term management systems,such as "Several Opinions of the State Council on Accelerating the Development of Modern Insurance Services"(Article 10 of the People’s Republic of China),and "Notice on Standardizing the Product Development and Design Behavior of Personal Insurance Companies"(CIRC No.134).However,with the rapid development of the insurance industry in recent years,its development strategy is unclear,risk awareness is weak,risk management is weak;the construction of supervision system and legal system is relatively backward;there is a gap between the insurance supervision system and the supervision system with solvency as the core;and there is a contradiction between the constantly revised provisions of the insurance law.Shield and other issues continue to highlight,the current regulatory system is playing a diminishing role,which will pose a certain challenge to national financial security.At present,in the study of the financial system in China,the research direction of Chinese scholars mainly tends to be banking or securities systems,and there is less research on the insurance regulatory system,which is inconsistent with the increasingly important position of the insurance industry in the national economy.It is incompatible with the increasingly active role of the insurance industry in the overall financial activities.Based on the study of the Qian Mu system trap,this dissertation adopts the methods of comparison and systematic induction,discusses the basic concepts of the insurance supervision system and the structural principles of the legal system,andcombs out the historical development of the insurance supervision system.Analyze the existing problems and defects in the practice of insurance supervision;In addition,through systematic comparison and other means,we can draw on the existing experience of the insurance regulatory system and legal system of Western developed countries and the relevant practices of China’s banking regulatory system,and pass through the past.Put forward four targeted suggestions for improvement,such as strengthening the top-level design and clear regulatory objectives,which meet the level and potential of China’s insurance development,and provide theoretical and practical methods for further improving China’s insurance regulatory system,with a view to promoting the strengthening of China’s insurance regulatory system.Compensate the short board of the supervision system,cross the trap of Qian Mu system,and effectively resolve the correct institutional path of risk.