On The Perfection Of The Legal System Of My Country’s Insurance Security Fund

In recent years,the scale of my country’s insurance market has been catching up with developed countries in the West,and the depth and density of insurance are also increasing.However,some insurance companies have problems in product marketing,capital utilization,daily operations,etc.,which damage the legitimate rights and interests of insurance consumers,affect the confidence of insurance consumers in the insurance industry,seriously reduce the credibility of the insurance industry,and even lead to Systemic risk in the insurance industry.As an industry mutual fund,the insurance protection fund can become the last line of defense against risks when an insurance company encounters a bankruptcy crisis,protect the interests of policyholders of the bankrupt insurance company,enhance public confidence,and maintain the stability of the insurance market order.Therefore,the importance of the insurance protection fund goes without saying.At present,my country has initially established a legal system for insurance protection funds,and has accumulated certain experience in participating in the practice of risk disposal.However,from an overall perspective,there are still deficiencies in the legal system of my country’s insurance security funds,such as the low level of relevant legislation,the imperfect financing mechanism,the unreasonable determination of compensation standards,and the limited exercise of powers by security fund companies.The foreign insurance protection fund system started earlier,developed comprehensively,and the system is perfect.If a scientific insurance protection fund legal system is to be established,advanced experience must be learned from the practice outside the country.Combined with the measures taken outside the region in the construction of insurance protection fund system rules,fund financing mechanism,and the relationship between fund management agencies and regulatory authorities,the experience of the insurance protection fund system in line with my country’s national conditions is summarized.At present,in the construction of the insurance protection fund system in my country,it is necessary to improve the legislative level of the insurance protection fund,supplement and refine the supporting clauses,and connect with other financial legal systems;in the insurance protection fund rate and financing mechanism,a risk-oriented approach is adopted.It follows the principle of combining risks and returns to expand the internal and external financing channels of the fund;in terms of the timing of insurance protection fund intervention and the setting of compensation standards,it refines the conditions for the fund to participate in risk disposal,and dynamically adjusts the amount of fund compensation;In the relationship between fund management agencies and regulatory authorities,ensure the independence of insurance protection fund companies in exercising their functions and powers,and strengthen supervision over administrative powers.