The China Banking Regulatory Commission intends to strengthen insurance sales behavior management

In order to protect the legitimate rights and interests of the insured, the insured, and the beneficiary, and standardize the insurance sales behavior, the CBRC recently solicited opinions from the society on the management measures of insurance sales.

The "Administrative Measures for Insurance Sales Behavior (Draft for Soliciting Opinions)" states that insurance companies and insurance intermediaries shall collect handling and handling the personal information of the insured, the insurer, the beneficiary, and the relevant parties of the insurance business activities in accordance with the principles of legal, correctness, and necessary principles. And keep it properly to prevent information leakage.

The draft for the comments stipulates the insurance sales qualification conditions, business scope, insurance product information disclosure, insurance marketing publicity behavior, and technical preparation of insurance sales, personnel preparation, channel preparation, etc., and clearly require insurance companies and insurance agencies of new products for personal insurance to sell new products of personal insurance Institutions shall conduct risk tolerance evaluations on the insured person in accordance with relevant regulations, and truthfully inform the insurer the uncertainty of the benefits of the policy, accurately and comprehensively remind the relevant risks, and sell the insurance products that are suitable for the sales results according to the evaluation results.

For the comments draft, the insurance company, insurance intermediary agencies and insurance sales staff shall not use compulsory sales, information systems or webpage default checks to establish insurance contracts with the insurer. Signatures in documents and materials.

The draft for soliciting comments also requires that insurance companies should establish a fund management mechanism and strictly conduct fund collection and payment management in accordance with relevant regulations. Insurance intermediaries shall open an independent customer funding account and commission to collect accounts. (Reporter Tan Mo Xiao)

[Editor in charge: Wang Yan]

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