What is the goal of insurance supervision?

Ensure that insurance companies have sufficient solvency, prevent insurance fraud, maintain reasonable prices and fair insurance conditions in the insurance market, supervise and manage insurance intermediaries, and ensure their qualifications and ability to operate insurance business.

The contents of insurance supervision mainly include: market access supervision, changes in equity supervision, corporate governance supervision, internal control supervision, assets and liabilities supervision, capital adequacy ratio and solvency supervision, insurance trading behavior supervision, online insurance supervision, reinsurance supervision and financial derivatives supervision.

In some emerging market economies, insurance regulatory agencies not only perform statutory regulatory duties, but also undertake the task of promoting the development of domestic insurance industry. Insurance regulators in China have these two functions.

China CIRC has the dual functions of government administrative department and insurance regulatory agency. As an insurance regulatory body, it should safeguard the legitimate rights and interests of the insured, maintain the market order of fair competition and the overall security and stability of the insurance system; As the administrative department in charge of the industry, it is necessary to do a good job in the research and formulation of long-term plans for insurance development, study the major strategies, basic tasks and industrial policies for insurance development, and guide the development direction of the insurance industry through planning, guidance and information services.