October 14th, 2009 
youhan (A) insurance continuously improve the legal system
From the insurance recovery, China’s legal construction has made great achievements in the insurance.
Implemented in 1982, “The People’s Republic of China on Economic Contracts Law” of the property insurance contract special provisions were made, this is the new China for the first time with the real meaning of the insurance laws and regulations. In September 1983, the State Council promulgated and implemented the “property insurance contract regulations.”
In March 1985, the State Council promulgated “Provisional cases of the insurance business management,” to strengthen supervision of the insurance industry has played an important role.
In November 1992, “The People’s Republic of China Maritime Law,” enacted on the marine insurance contract made provision.
In June 1995, “The People’s Republic of China Insurance Law” promulgated in the development of the socialist market economy, regulate the insurance business activities, protect the legitimate rights and interests of insurance activities to promote the healthy development of the insurance industry of great significance. “Insurance Law” after the introduction of the People’s Bank have developed a number of supporting the insurance industry regulations, such as “Provisional Regulations on Insurance Management (Trial)”, “insurance agent regulations (for trial implementation)”, “insurance broker regulations”, etc. .
In November 1998 the establishment of the China Insurance Regulatory Commission, immediately following the insurance market situation and existing problems of investigation and study, and set modify, supplement and perfect the insurance laws and regulations, has promulgated the “insurance regulations”, “to the Provisional Regulations on insurance companies invest in shares “,” Insurance Assessor regulations (Trial) “and a series of insurance regulations.
(B) the continued strengthening of insurance supervision
Early ’50s, the PBC is the insurance industry, the competent authority. After the imitation of the practice of the former Soviet Union in 1952, supervision of the insurance industry by the Ministry of Finance. Discontinued in 1959, the domestic insurance business, the Chinese People’s Insurance Company only to handle foreign-related insurance, in the administration to become a People’s Bank of Overseas Business Bureau office. With the recovery of the domestic insurance business, the Chinese People’s Insurance Company in 1984, out grouped from the People’s Bank to become the State Council, directly under the bureau level economic entities. Thus, between 1959 and 1984, the PBC not only carry on insurance business, but also responsible for the insurance industry’s leadership and management. From 1984 onwards, the exercise of the central bank People’s Bank of specialized functions, insurance regulation is one of the important work. 1985, promulgated the “Provisional Regulations on the insurance business management”, enacted in 1995, “The People’s Republic of China People’s Bank Law” and “The People’s Republic of China Insurance Law,” explicitly People’s Bank is the insurance industry regulatory authorities.
With the gradual deepening of financial system reform and the insurance industry and the continuous development of insurance regulation continue to strengthen. In 1998, to strengthen insurance supervision, the implementation of banking, insurance, securities separate operation, sub-sector management principles, the State Council decided to establish the China Insurance Regulatory Commission. China Insurance Regulatory Commission is set up in China’s insurance is an important milestone in the history of the development since then, China’s insurance industry has entered a new historical period of development.
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