The Research On Institution Change Of Insurance Regulation In China

The insurance as one of the mainstays of the finance plays a veryimportant role in social life, because of the basic functions of economicalcompensation, financing and social management. As the booster ofeconomic development and the stabilizer of the social development, theinsurance provides not only the platform of the risk management for thesociety, but also the necessary guarantee and support for the economicsustainable development. However we also see, the insurance belongs tothe high-risk profession, some factors of economic environment and thefinancial risk affect the development of the insurance hugely with theeconomic globalization nowadays. Therefore, for the sake of the safeoperation and sustainable development of the insurance, in this case theregulatory department must strengthen the construction of the regulationinstitution in order to provide a specific direction and safety and orderlyenvironment for the free trade of insurance market.The thesis researches the transitional road of the insuranceregulation institution, proposes the overall thought and countermeasure inorder to perfect the construction of the insurance regulation institutionaccording to the practical results in china on the base of the institutional transitional theory and the advanced experience of the insurance indeveloped countries. The Chinese institutional chance of the insuranceregulation institution combines the mandatory system innovation andgradual system innovation through the analysis of the Chinese insuranceregulation institution development. The mandatory system innovationachieves the overall development of the insurance; ensures the executionof the institution. The gradual system innovation which is suitable forChinese national conditions insures that the innovation of the insurance isalways under relatively mild conditions. The chance of the Chineseinsurance regulation institution stems from the imbalance of theinstitution through the analysis of the cause of the Chinese insuranceregulation institution chance. The institution chance is inevitable whenthe demand is not suit to the supply. Chinese insurance regulationinstitution chance is formed by the interaction of demand and supply,mainly for the imbalance of supply and demand. The thesis obtains theexperience and inspiration of the developed countries through theanalysis of the American, Britain, and Japanese insurance regulationinstitution evolution. The targets of the insurance regulation cleargradually, the macro-prudential regulation strengthen gradually, theoverall regulation philosophy mature gradually and the internationalcooperation of the insurance regulation deepen gradually, these reflect theoverall development direction of the international insurance regulation and provide the important reference for the reform and development ofChinese insurance regulation institution. The advanced experience ofboth Chinese and international insurance regulation development tell usthat establishing and perfecting the insurance regulation institution shouldstart from the insurance market and playing a role of the market inallocating resources fully. On the premise of handling three relationshipsthat regulation and market, regulation and innovation, regulation andservice, orient to market demand, establish explicit regulatory objectivesand thoughts, perfect the insurance regulation institution, promote theregulatory efficiency finally. In particular, according to the actualcondition of the Chinese insurance development, some suggestions aregiven to improve the existing insurance regulation institution from thefollowing five aspects, which are strengthening construction of riskcontrol system, improving construction of legal system, building themodern system of insurance regulation system, perfecting rights andinterests protection system of the insurance consumer, enhancing theconstruction of the credit system.