Study On The Legal Regulation Of The Foreign Insurance Institutions

2011 for Chinese economy was a landmak year. From 2001 to 2011, for a decade, We witnessed how Chinese economy made stubborn resistance gainst international strong market impact to stand still and then launched a violent counter-attack to the opponents, Great changes have taken place past decade, from five-year protective competition to the fully independent and equal market competition, ever since entering WTO, Chinese insurance industry has gradually grown bigger and gone further on the move. Since joining the WTO, Chinese insurance industry has been more and more open to the world, and now it has become the most open department in Chinese financial market, a large number of foreign insurance companies entering the Chinese insurance market has become the main sign of opening Chinese insurance market. Foreign-funded insurance companies getting into the domestic market like blood, not only bring a lot of foreign capitals, advanced technology and management experience and insurance products, but also speeds up Chinese insurance industry and fusion of global financial markets.The insurance industry is an important part of the nation finance. It is also "stable machine of society". In these years,Chinese financial market have become more and more complicated, however, rapid improvement of society and economics also highlights the serious lag and defects of the laws and regulations, which have also brought a lot of obstacles and potential crisis for economic and social development. There are fewer laws and regulations for supervision of foreign insurance companies.At present, there is a regulation of foreign insurance companies law, which is based on "Insurance Law"and "foreign Insurance Companies Regulations" as the central system, the system fully reflected the Chinese insurance industry, national economic security and appropriate protection maintenance of the domestic market economic order and protect the interests of the insured people and etc. However, with the openness and development of Chinese insurance market, the existing regulations on foreign insurance companies also exposed many problems:access to foreign insurance companies such as the solvency of the regulatory requirements when the lack of maneuverability, thus this provision became a blank regulation, which under the current financial globalization, more and more attention to national solvency regulation to differ from the international trend; Moreover, behaviour of insurance companies, there are also many issues for the supervision of foreign insurance companies' business scope and form, meanwhile, transparency for foreign-funded insurance institutions regulated by the laws is also needed improvement.This article deeply analyses the current problems for foreign insurance companies regulated from the angle of economics and jurisprudence depending on the situation in china, and put forward regulatory legalization and risk control for the foreign-funded insurance companies. Firstly,it should be assured the legalization of the insurance,and regulated legal systematic to existing foreign-funded insurance company and promptly modified the terms of the hysteresis of legal loophole and remedied,but also to promote its legal status. In order to construct a solvency regulation, implement the supervision of foreign insurance institutions, deregulation and strengthen control and unity. Secondly,we should strengthen the laws and regulations, keep judicial and law transparency, clear the government information and better implement WTO law of transparency, to strengthen the supervision of personnel, and update technology and improve it; third, enhance the supervision of solvency of foreign-funded insurance company, and the effective supervision of foreign funds of an insurance company shall strictly control foreign insurance. This is the important guarantee to the solvency of insurance company, because of complex international background, we should strengthen international cooperation for the effective supervision for the risk.