A Study On Risk Management Of Chinese Commercial Insurance Industry

When the protection period of WTO accession ends,Chinese insurance market has inevitably been integrated with the international insurance market.Especially since 2007,with such unstable economy,global insurance industry has been witnessing the unprecedented challenges,which result in certain issues concerning the risk management of insurance industry.In view of the general msnagement theory,behavior science,risk management theory,information economics,new institutional economics,economic law theory, the combination of standard analysis and empirical analysis,the induction analysis and deduction analysis,and dynamics analysis and static analysis have been adopted during the whole research process.With the unification of history and logic,this paper systematically probes into the diverse elements affecting the risk management of insurance industry,then comparatively analyzes the risk management system among several typical developed countries and developing regions,and finally concludes with changing model and constraints for the risk management system.By thoroughly reviewing and analyzing the historical evolution of risk management of Chinese insurance industry,many issues,such as weak supervision,backward infrastructure,governmental interference,incomplete industry chain,poor coordinating mechanism and inefficient taxation policy,have been highlighted in this research.After overall analysis of the informal restriction towards risk management resulting from Chinese traditional culture,the paper proposes the appropriate target, policy,mechanism and method applied to the risk management of Chinese insurance industry from a holistic viewpoint.Moreover,the ideal model of risk management system has been designed with integration of goal,standard,concept,organization, content,implementation,coordination,protection and environment of effective risk management,so as to meet the demands for the blend of prospective insurance industry and global insurance market.Eventually,by exploring the reform trend of the current risk management system,the paper suggests some applicable measures for establishing the comprehensive framework of risk management.