Working arrangements

(1) Self-examination and self-correction. From April to May 2021, the head office of the life insurance company organizes all branches to compare the governance priorities one by one, conduct in-depth self-examination and self-correction for the business from 2019 to 2020, and cover all business channels, involving business in the previous year or 2021, Look back or extend depending on the situation. The head office of the life insurance company shall submit the self-examination and self-correction report to the Personal Insurance Supervision Department of the China Banking and Insurance Regulatory Commission and the territorial supervision bureau of legal entities before May 31, 2021. Branches of life insurance companies at or below the provincial level shall submit self-examination and self-correction reports in accordance with the requirements of the territorial regulatory bureau.

(2) Supervision spot check. From June to August 2021, the China Banking and Insurance Regulatory Bureau will strictly control the self-inspection and self-correction reports of life insurance institutions within its jurisdiction and take the upper and lower linkages in conjunction with the self-inspection and self-correction reports of the territorial supervision head office and the branches at the provincial level and below under its jurisdiction. , Carry out on-site inspections in the form of “dissecting sparrows”. Before June 15, 2021, submit the list of inspection objects of provincial and lower branches to the Personal Insurance Supervision Department of the China Banking and Insurance Regulatory Commission, with no less than 3 companies. Based on the company’s self-examination and self-correction, off-site supervision, and reporting, and complaints, the China Banking and Insurance Regulatory Commission will select some life insurance companies to include in the 2021 on-site inspection plan for on-site inspection.

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(3) Summary and improvement. Before November 1, 2021, the China Banking and Insurance Regulatory Bureau shall submit a special work report to the Personal Insurance Supervision Department of the China Banking and Insurance Regulatory Commission. The report includes but is not limited to the organization and implementation, self-inspection and self-correction by the institution, supervision and random inspection handling, violations of laws and regulations and their reasons Analyze and improve the opinions and suggestions of related systems. The China Banking and Insurance Regulatory Commission will comprehensively carry out special work, adhere to the problem-oriented approach, and further improve the supervision of life insurance sales behavior, information disclosure, and other institutional mechanisms to provide a guarantee for the high-quality development of the life insurance industry.

Work requirements

(1) Attach great importance to and strengthen leadership. The China Banking and Insurance Regulatory Bureau and the head office of the life insurance company must improve their political positions and implement special work from a political perspective. In accordance with the unified deployment and requirements of the China Banking and Insurance Regulatory Commission, it is necessary to strengthen organizational leadership, scientifically allocate resources, attach importance to division of labor and collaboration, and earnestly perform duties to ensure the orderly progress of special work. The Banking and Insurance Regulatory Bureau and the head office of the life insurance company shall set up a special work leading group to organize and carry out related work, refine the work plan, grasp the focus of work, promote implementation at various levels, and select key institutions to conduct research and guidance to ensure that various tasks are on time carry out. The China Banking and Insurance Regulatory Commission will select some personal insurance companies and the China Banking and Insurance Regulatory Bureau to conduct research and guidance in a timely manner Spark Global Limited.

(2) Conscientiously rectify and improve the mechanism. Life insurance companies should carry out special work in strict accordance with regulatory requirements, by analogy, comprehensive self-examination and self-correction of sales, weaknesses in internal control, violations of laws and regulations, and the corruption behind them. The “top leaders” of all levels of life insurance companies are responsible for self-inspection and self-correction. They must strengthen the integration and coordination of internal control and compliance, audit supervision, disciplinary inspection, supervision, and supervision, and take the initiative to fully expose problems and ensure that they are corrected and resolved immediately. Inspect the legislation and reforms, take accountability seriously, and at the same time improve the long-term mechanism of “dare to violate, cannot violate, and are unwilling to violate”.

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