All banking and insurance regulatory bureaus, all property insurance companies:
The "Measures for the Supervision of Credit Insurance and Guarantee Insurance Business" (hereinafter referred to as the "Measures") are hereby printed and distributed to you, please follow and implement them.
After the implementation of the "Measures", if insurance companies fail to meet the requirements of Articles 4 and 5, they shall gradually reduce the outstanding balance of financing credit insurance business during the transition period, properly and orderly digest the existing business, and the overall financing credit insurance business The outstanding liability balance shall not exceed the balance on the date of issuance of the "Measures". The transition period is 6 months from the date of issuance of the "Measures". After the transition period expires, insurance companies that still do not meet the requirements of Articles 4 and 5 shall not carry out financing credit insurance business.
2020 Nian 5 Yue 8 Ri
Measures for the Supervision of Credit Insurance and Guarantee Insurance Business
In order to protect the legitimate rights and interests of insurance consumers, we will further strengthen the supervision of credit insurance and guarantee insurance business (hereinafter referred to as credit insurance business), regulate business behavior, prevent and resolve risks, and promote the sustainable and healthy development of credit insurance business, in accordance with the "Insurance Law of the People's Republic of China" and "The People's Republic of China The Contract Law and other laws and regulations formulate these measures.
Chapter I General Provisions
Article The term credit insurance and guarantee insurance, credit risk refers to the performance as the object of insurance. The subject of credit risk in credit insurance is the performance obligor, and the applicant and the insured are the obligees; the insured of the guarantee insurance is the performance obligor, and the insured is the obligee.
The insurance company mentioned in these Measures refers to the property insurance company established with the approval of the China Banking and Insurance Regulatory Commission ; the franchise insurance company refers to the property insurance company whose direct insurance business scope approved by the China Banking Regulatory Commission is limited to credit insurance and guarantee insurance.
The financing credit insurance business referred to in these Measures refers to the credit insurance business in which insurance companies provide insurance protection for the credit risk of the performance of financing contracts such as loans and financial leases.
The term “cooperative institutions” as mentioned in these Measures refers to institutions that cooperate with insurance companies in relevant links in the business process of credit insurance business such as marketing customer acquisition, risk review, and collection and recovery.
The second insurance companies credit insurance business shall adhere to the law compliance, small dispersion, controllable risk management principles.
Chapter II Business Rules
Article insurance company to carry out credit insurance business shall comply with the regulatory solvency requirements, take full account of the solvency capital requirement regulatory constraints on credit insurance business, and the company's capital strength to ensure the development of credit insurance business, risk management capabilities to match.
Article insurance companies financing credit insurance business shall meet the following requirements:
(1) The core solvency adequacy ratio at the end of the last two quarters is not less than 75 %, and the comprehensive solvency adequacy ratio is not less than 150 % .
(2) The head office establishes a management department specifically responsible for credit insurance business, and establishes a sound organizational structure and professional talent team .
(3) Establish a business operating system covering pre-guarantee risk review and post-guarantee monitoring and management; it has a risk management and control system for independent review of performance obligors, and it needs to be connected to the People’s Bank of China credit information system .
Personal financing credit insurance services are underwritten through the Internet , and the head office is under centralized underwriting, centralized management and control, and data docking with the business systems of financial institutions with legal lending qualifications .
(4) It has a sound management system and operating procedures for financing credit insurance business .
(5) Other requirements stipulated by the China Banking and Insurance Regulatory Commission.
Article Insurance Company of credit insurance business retained liability balances may not exceed 10 times the end of the previous quarter's net assets. Except for franchised insurance companies, the remaining liability balance of financing credit insurance business underwritten by other insurance companies shall not exceed 4 times the net assets at the end of the previous quarter. In the financing credit insurance business, the proportion of the loan balance of inclusive small and micro enterprises underwriting is up to Above 30%, the upper limit of the coverage multiple can be increased to 6 times .
The insurance company underwrites the remaining liability balance of a single performance obligor and its related parties shall not exceed 5 % of the net assets at the end of the previous quarter . Except for franchised insurance companies, the balance of individual performance obligors and their related parties' remaining liabilities for financing credit insurance business underwritten by other insurance companies shall not exceed 1 % of the net assets at the end of the previous quarter .
Article insurance company shall not be less underwriting credit insurance business:
(1) Non-publicly issued bond business, publicly issued entity credit rating or bond business with a debt rating below AA+ (except for franchised insurance companies);
(2) Creditor's rights transfer business where the underlying performance obligor has changed;
(3) Asset securitization business initiated by non-bank institutions;
(4) Financial derivatives business;
(5) The funds of the insurance company’s controlling shareholders, actual controllers, subsidiaries and other related parties are integrated into the business;
(6) Other businesses prohibited from underwriting by the China Banking and Insurance Regulatory Commission.
Article VII of the insurance company to carry out credit insurance business, shall conduct the following operations:
(1) Underwriting losses that will not actually occur or businesses for which losses have been determined;
(2) Underwriting business where the loan (borrowing) interest rate of financing credit insurance business exceeds the upper limit prescribed by the state ;
(3) The insured who underwrites financing credit insurance business is a funder who does not have legal financing service qualifications ;
(4) In the form of splitting the term of the policy or the amount of insurance, underwriting and the same financing contract Business that does not match the term or amount under the item;
(5) Substantially change the credit insurance products that have been approved or filed through the special agreement of the insurance policy or the signing of a supplementary agreement;
(6) For the same insurance liability of the same insured subject, a letter of guarantee nature similar to the legal effect of the insurance contract is issued;
(7) There are violations of laws and regulations in the collection and recovery by itself or outsourcing;
(8) Other business activities prohibited by the China Banking and Insurance Regulatory Commission.
Article VIII of the insurance company to carry out the financing of credit insurance business through the Internet, should be in accordance with the Internet insurance regulatory requirements, in the official website prominently on insurance products, content policy query links, customer complaint channels, information security, cooperation in the Internet institutions to disclose ; At the same time, cooperative Internet organizations are required to disclose information on the above content in a prominent position on the business webpage .
Article IX insurance companies credit insurance business, care should be taken to assess the risk and operational costs, accurately measure risk loss ratio, combined with people's actual performance obligation level of risk and overall affordability, fix reasonable rates.
Chapter III Internal Control Management
Article X of the insurance company to carry out insurance business letter should be centrally managed by the head office, branches to carry out credit insurance business under the unified management of the Corporation. Branches that carry out financing credit insurance business shall set up full-time and full-time positions in important links such as sales and underwriting, and shall not be part-time.
Article XI insurance company or corporation shall be equipped with a hire background knowledge economy, finance, legal, financial, statistical analysis or have credit insurance, guarantee professional experience in insurance, financing guarantees, bank credit, and continue to strengthen business Training and personnel training to improve risk identification capabilities.
Article XII insurance company shall establish credit insurance business covers the whole process of business systems, business system should have anti-fraud, credit risk assessment, credit risk and other substantive audit tracking and monitoring functions. The financing credit insurance business system should also have functions such as evaluation of repayment ability and monitoring of release (repayment) funds.
Article XIII insurance company shall establish a credit insurance business to consider and evaluate the decision-making mechanism, to ensure that the relevant decision-making can be traced back. Financing of credit insurance business management system includes at least underwriting policies, business practices, product development and management, partner management, collateral management and disposal, collection recovery, internal personnel management, consumer protection and so on .
Article XIV of the insurance company should establish business credit insurance underwriting standards and practices. Financing credit insurance business shall establish a retrospective management mechanism for underwriting, and save relevant materials in accordance with the "Insurance Law of the People's Republic of China"; financing credit insurance business underwritten through the Internet shall verify the authenticity of the identity information of the insured, complete records and save the Internet Insurance sales behavior information to ensure that the records are comprehensive and cannot be tampered with.
Article XV insurance company should conduct due diligence and close tracking of assets authenticity of credit insurance business performance obligations of financing, the authenticity of the transaction, liquidity, credit records, to prevent false fraud. Insurance companies shall not outsource core business links such as risk review and risk monitoring of financing credit insurance business to cooperative institutions, and shall not relax risk management and control because cooperative institutions provide risk countermeasures.
Article XVI insurance company should be when strengthen supervision and management of the business activities of partner institutions, by the Corporation to develop a unified agreement template, clear rights and obligations of both parties ; establish and improve the management system of the partner institutions, according to the characteristics of different aspects of cooperation agencies and Risk, clear requirements in terms of access, evaluation, exit, reporting and complaints.
Article XVII insurance company should be combined with the risk profile of credit insurance business, and the insured to establish a certain percentage of risk-sharing mechanism, and clearly the rights and obligations of the parties to the insurance contract.
Article XVIII insurance company shall be in accordance with the law under the premise of compliance with the third docking Fang Zhengxin agency data and develop data security management system, shall not divulge customer information , not to use the information provided by the customer to engage in any business unrelated to insurance or Activities that harm the interests of policyholders and insureds.
Article XIX insurance company should carefully assess the credit insurance business risk and develop risk early warning system for major risk types, set warning indicators and parameters, to achieve early warning, early intervention, early disposal.
Diershitiao insurance company shall, according to China Insurance Regulatory Commission requirements for silver liquidity management, every six months to carry out stress tests for credit insurance business. When an insurance company conducts financing credit insurance business, it shall carry out stress tests on a quarterly basis. The stress tests shall include liquidity risk, systemic risk, solvency risk, etc.
Article XXI insurance companies and insurance business letter should be strictly in accordance with regulatory requirements, consistent with the principles and methods of non-life insurance actuarial, carefully assess the business risk, and based on the assessment results, a reasonable draw and carry the relevant reserve .
Article 22 The insurance company shall strictly follow the " People's Republic of China the relevant requirements of the Insurance Law," to make approved, and payment or exclusions decided to stay within the law and the insurance contract aging. The insurance company shall specify the national uniform telephone number for complaints and claims in the credit insurance business policy.
Article 23 The insurance company shall carry out the collection law compliance recovery work. For outsourced collections, insurance companies should formulate business cooperation rules with collection agencies, clarify the rights and obligations of both parties, and strengthen the management of the collection agencies’ business activities.
Article 24 The insurance company Recoveries recognition and measurement of credit insurance business should be strictly in accordance with the relevant provisions of accounting standards, non-inflated Recoveries, affect the authenticity and accuracy of the financial statements. At the same time, insurance companies should conduct a retrospective assessment of the recovery payments at least quarterly to ensure that the financial statements truly and accurately reflect relevant risks.
Article 25 The insurance company should be combined with credit insurance business development strategy and the current risk profile, risk appetite to develop strategies, qualitative, quantitative way to determine the credit insurance business, risk tolerance and risk limits, according to the company's risk bearing capacity, Carry out matching reinsurance arrangements.
Article 26 The insurance company shall establish credit insurance business emergency plan, a clear disposition departments and their duties, the measures and procedures, resolve risks, avoid groups, regional events . At the same time, public opinion guidance should be strengthened and positive publicity should be done.
Article 27 insurance companies operating credit insurance business, credit insurance business should be included in the scope of internal audit. Those engaged in financing credit insurance business shall conduct an internal special audit every year. The audit content includes, but is not limited to, business operation results, system construction, financial accounting, system construction, risk control, reserve withdrawal, legal compliance, etc.
Chapter IV Supervision and Administration
Article 28 The insurance company shall establish credit insurance business emergency reporting mechanism, according to the China Insurance Regulatory Commission on silver emergency information reporting requirements, submit to CIRC silver and silver insurance regulatory risk event location. Emergencies in the credit insurance business include, but are not limited to, events that have more negative public opinions, may cause insufficient solvency or liquidity risks of the company, and affect the reputation of the company or the industry , and mass events .
Article 29 insurance companies and insurance business letter should be reported on a year business situation to the China Insurance Regulatory Commission and silver territorial Authority before the end of February each year, including, but not limited to, the following:
(1) The credit insurance business management system, organizational structure, team building, system construction, etc.;
(2) The overall business operations and financing credit insurance business operations, including operating results, compensation status, underwriting related parties, reinsurance status, major problems and risks, consumer complaints and handling, risk handling, etc.;
(3) The relevant information of the cooperative organization, including the management and control of the cooperative organization, the number of cooperative companies, the cooperative business field, the cooperation model, the main issues and risks, legal disputes, and risk response measures, etc.;
(4) The credit insurance business development plan for the next year;
(5) Other situations required by the China Banking Regulatory Commission to report.
The insurance company shall submit the previous year's credit insurance business audit report or the content of the credit insurance business and the annual stress test report in the audit report to the China Banking and Insurance Regulatory Commission and the local regulatory bureau before the end of each year. The insurance company shall, in accordance with the requirements of Article 20 of these Measures, submit the relevant credit insurance business stress test report to the China Banking and Insurance Regulatory Commission and the local regulatory bureau within 15 working days after every six months or every quarter.
Article 30 The Bank Insurance Regulatory Commission is responsible for overall supervision and management of credit insurance business by balancing risk and disposal. The Banking and Insurance Regulatory Bureau is responsible for the supervision and management of credit insurance business and risk disposal of the territorial institutions and branches within its jurisdiction. If an insurance company or a provincial institution initiates or discontinues credit insurance business for the first time, it shall report to the local banking and insurance regulatory bureau within 5 working days from the occurrence of the above situation.
Article 31 insurance companies operating in the credit insurance business, in violation of the relevant provisions, silver and silver Insurance Regulatory Commission CIRC according to the law can take supervisory talks, a deadline for rectification, informed criticism and other regulatory measures.
Insurance company violates the present Measures, the CIRC and silver to Article 4 of its dispatched institutions may take regulatory measures in accordance with law ordered to stop accepting new business credit insurance .
Insurance company insurance clauses and premium rates used in violation of laws, administrative regulations or regulatory requirements, silver CIRC and its local offices can be taken according to the law ordered to stop using the terms of rates , regulatory measures deadline modified; the circumstances are serious, be certain deadline It is prohibited to declare new terms and rates.
Article 32 insurance companies operating in the credit insurance business process, there is the following situations, silver CIRC and its local offices may order rectification. Those who violate the relevant provisions of the " Insurance Law of the People's Republic of China " shall be subject to administrative penalties in accordance with the law.
(1) Failure to apply for reinsurance as required;
(2) There are underwriting prohibited businesses listed in Article 6 ;
(3) There are business activities listed in Article 7 ;
(4) Failure to disclose information in accordance with Article 8;
(5) Failure to use approved or filed insurance clauses and rates in accordance with regulations;
(6) Failure to submit relevant reports in accordance with the provisions of these Measures ;
(7) Violation of other provisions of these Measures .
Chapter V attached to it
Article 33 of the policy of the insurance company's long-term export credit insurance and foreign investment insurance does not apply in this way . Policy insurance companies do not apply the provisions of Article 5 of these Measures.
Article 34 of this approach by the China Insurance Regulatory Commission is responsible for interpretation and revision of silver. Silver CIRC regulations and normative documents as otherwise provided, from its provisions.
Article 35 These Measures shall take effect from the date of issuance, and the Interim Measures for the Supervision of Credit Guarantee Insurance Business (Bao Jian Cai Xian [2017] No. 180) shall be repealed at the same time.
Reprinted source: China Banking and Insurance Regulatory Commission