Internal Control Of Property Insurance Company

As significant measure for corporate governance and control, internal control is an important guarantee for steady development of property insurance company. From the point of domestic insurance industry, five ministries of Ministry of Finance, CSRC, Auditing Administration, CBRC and CIRC jointly issue "Basic Standards for Enterprise Internal Control" that was firstly implemented by listed companies on January,1st,2011. Based on it, CIRC issues "Basic Standards for Insurance Company Internal Control" to put forward specific requirements on insurance company internal control in August,2010. Under this background, starting in-depth study for the internal control of property insurance company is imperative. This article regards property insurance company as research object to develop in-depth research for internal control according to the newest requirements of external supervision.This article introduces domestic-external correlational research&practice to reflect the inherent law of internal control and deeply dig meaning of internal control; simultaneously complying with the newest requirements of internal control issued by supervision departments, evaluates the current situation of internal control of property insurance company, and in according with working practice, put forward systematic internal control scheme that offering more significant reference value for strengthening and perfecting current internal control of property insurance company.Upon the way of research, mainly combining with actual condition of property insurance company as case A, based on the subjects of internal control, risk management, etc, under the guide of systematology, cybernetics, informatics, etc and using relevant provisions of Ministry of Finance and CIRC and the research report of American COSO Committee, this article adopts normative analysis to stepwise develop to construct the practice system for internal control of property insurance company. Through research, it is found that though case company achieves centralized control for key risks of marketing, underwriting, claiming assessment, accounting payment, etc, internal control measurements such as marketing channel liquidation, underwriting flow refining, claims service upgrading and finance control efficiency remain to be strengthened with major risk and hidden danger. On this basis with comprehensive utilization of complete frame theory for internal control, put forward specific measurements for perfecting the culture and organizational structure of internal control; strengthening relevant system building; and enriching internal control methods, and detailedly protocol improvement solutions on perfecting internal control of four key control links aiming at structuring the overall framework for internal control of property insurance company, and be prepared for realizing comprehensive risk management.This article regards provincial branches as case study objects stressing in operating level to find internal control problem, propose perfect solutions, and remain to develop a further in-depth research from the point of corporate juridical person governance.