中华人民共和国保险法（二）

combined total of its actual capital and accumulation fund.

　　Article 99 Each risk unit of an insurance company， that is， the liability for the maximum loss scope possibly to becaused by an insurance accident， may not exceed 10 percent of the combined total of its actual capital and accumulation fund； the excess shall effect reinsurance.

　　Article 100 Any insurance company shall report the method of calculating risk units and the plan to arrange catastrophe risk to the financial supervision and control department and apply to it for check and ratification.

　　Article 101 Except life insurance business， an insurance company shall， in accordance with the state's regulations， handle reinsurance for 20 percent of each insurance business it accepts.

　　Article 102 Where an insurance company needs to offer outward reinsurance， it shall give priority to insurance companies within the territory of China.

　　Article 103 The financial supervision and control department has the authority to restrict or forbid insurance companies to offer outward reinsurance business to insurance companies outside the territory of China， or to accept inward reinsurance business from outside the territory of China.

　　Article 104 The application of funds of an insurance company shall be safe， follow the safety principle， and guarantee to increase and maintain the value of its assets.

　　The application of funds of an insurance company is restricted only to bank deposit， trading of government bonds and financial bonds and other forms of application of funds stipulated by the State Council.

　　The fund of an insurance company may not be applied to set up securities management organizations or to invest in enterprises.

　　The concrete proportion of fund applied by an insurance company and the fund for concrete projects to its total fund shall be stipulated by the financial supervision and control department.

　　Article 105 Any insurance company and its staff may not commit any of the following acts during insurance business activities：

　　（1） cheating an applicant for insurance， an insured or a be

neficiary；

　　（2） concealing important information relating to insurance contract from an applicant for insurance；

　　（3） preventing an applicant for insurance from performing the obligation of really informing provided in this Law， or inducing him not to perform the obligation of really informing provided in this Law； or

　　（4） promising an applicant for insurance， an insured or a beneficiary a premium rebate， or other interests beyond the stipulations of the insurance contract.

　　Chapter V Supervision and Control of Insurance Business

　　Article 106 Basic insurance clauses and premium rates for main kinds of risks of commercial insurance shall be provided by the financial supervision and control department.

　　Insurance clauses and premium rates for other kinds of risks drafted by an insurance company shall be reported to the financial supervision and control department for record.

　　Article 107 The financial supervision and control department has the authority to inspect the business condition， the financial condition and the condition of application of fund of an insurance company， and has the authority to require an insurance company to submit relevant written reports and materials within a specified time limit.

　　Any insurance company shall accept supervision and inspection according to law.

　　Article 108 Where an insurance company fails to draw or carry forward various reserve funds according to the provisions of this Law， or fails to handle reinsurance according to the provisions of this Law， or seriously violates the provisions of this Law on the application of funds， the financial supervision and control department shall order the said insurance company to take the following measures to correct its mistakes within the specified time limit：

　　（1） drawing or carrying forward various reserve funds according to law；

　　（2） handling reinsurance according to law；

　　（3） correcting its act of the application of fund in violation of law； and

　　（4） changing the person（s） in charge and relevant managerial personnel.

　　Article 109 According to the provisions of the preceding Article， if the financial supervision and control department having made a decision of correction within a specified time limit， the insurance company fails to make correction within the specified time limit， this department shall decide to select professional persons in the insurance business and appoint relevant personnel from the said insurance company to form a reorganization group to reorganize the said insurance company.

　　The reorganization decision shall state the designation of the insurance company to be reorganized， the cause for reorganization， the reorganization group， and the period of reorganization， and shall be announced publicly.

　　Article 110 The reorganization group， in the process of reorganization， has the authority to supervise the said insurance company's daily affairs. The persons in charge and relevant managerial personnel of the said insurance company shall exercise their functions and powers under the supervision of the reorganization group.

　　Article 111 In the process of reorganization， the original business of the insurance company may continue， however， the financial supervision and control department has the authority to ban any new business or to suspend part of the original business and to adjust the application of fund.

　　Article 112 Where an insurance company， through rectification， has already corrected its acts violating this Law and resumed its original state of operation， the reorganization shall， after the submission of a report by the reorganization group and with approval of the financial supervision and control department， come to an end.

　　Article 113 Where the payment ability of an insurance company is possibly endangered seriously or has been already endangered， becau

se the insurance company violates the provisions of this Law and infringes the social public interests， the financial supervision and control department may take over the said insurance company.

　　The aim of the takeover is to take necessary measures for the insurance company taken over so as to protect the insured's interests and restore the normal operation of the said insurance company. The relation between the obligatory right and the debts of the insurance company taken over shall not change due to the takeover.

　　Article 114 The composition of the takeover group and the measures of implementation for takeover shall be decided by the financial supervision and control department and shall be announced publicly.

　　Article 115 When the term of takeover expires， the financial supervision and control department may decide to extend the term， however， the longest term of takeover may not exceed two years.

　　Article 116 When the term of takeover expires and the insurance company has restored its normal operation ability， the financial supervision and control department may decide to terminate the takeover.

　　If the takeover group thinks the property of the insurance company not sufficient to liquidate its debts， with approval of the financial supervision and control department， it shall， according to law， apply to a people's court for declaration of bankruptcy of the said insurance company.

　　Article 117 An insurance company shall， within three months counted from the end of each fiscal year， submit its business report， financial accounting statements and relevant statements of the previous year to the financial supervision and control department， and promulgate them according to law.

　　Article 118 An insurance company shall， by the end of each month， submit its business statistics report of last month to the financial supervision and control department.

　　Article 119 An insurance company engaged in life insurance business shall engage professional actuaries approved by the financial supervision and control department， and establish an actuarial reporting system.

　　Article 120 An insurer and an insured may invite independent assessment organizations established according to law， or engage experts with statutory qualifications to carry out assessment and appraisal of an insurance accident.

　　Article 121 An insurance company shall properly keep complete account books， original vouchers and certificates as well as relevant materials about its business operation activities.

　　The period of safekeeping account books， original vouchers and certificates as well as relevant materials provided in the preceding paragraph may not be shorter than 10 years counted from the date of the termination of the insurance contract.

　　Chapter VI Insurance Agent and Insurance Broker

　　Article 122 An insurance agent refers to a unit or individual that， according to the commission of an insurer， collects commission fees from the insurer and handles insurance business on behalf of the insurer within the limits of commission.

　　Article 123 An insurance broker refers to a unit which， for the interests of an applicant for insurance， provides intermediary service for the applicant for insurance and an insurer to make an insurance contract and collects brokerage according to law.

　　Article 124 An insurer shall assume the responsibility for the acts of an insurance agent in handing the insurance business on behalf of the insurer according to the authorization.

　　An insurance agent engaging in agency service of

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