保险经纪机构管理规定 Rules on Administration of Insurance Brokerage Institutions

insurance brokerage institution is established with a minimum registered capital or capital contribution required herein， after one year of its establishment， it can establish 3 branches in provinces， autonomous regions or municipalities directly under the central government other than its domicile. In addition， to apply for the establishment of the first branch in each province， autonomous region or municipality directly under the central government other than its domicile， registered capital or capital contribution of at least RMB 1 million shall be increased.

　　Where the registered capital or capital contribution of the insurance brokerage institution has already reached the amount required in the preceding paragraph when it applies for the establishment of a branch， it may not increase its registered capital or capital contribution.

　　Where the registered capital or capital contribution of an insurance brokerage institution reaches RMB 20 million， it need not increase registered capital or capital contribution to establish a branch.

　　Article 20

　　To apply for the establishment of a branch， an insurance brokerage institution shall submit the following materials in duplicate：

　　1. “Application Form for Establishment of Insurance Brokerage Branch”；

　　2. The resolution of the board of directors or all partners for establishing an insurance brokerage branch；

　　3. The internal management framework of the insurance brokerage branch to be established；

　　4. Audit report of the insurance brokerage institution for the previous fiscal year issued by an accounting firm；

　　5. Description of the supervision and inspection of insurance regulatory authority， administration of industry and commerce and taxation authority that the brokerage institution have accepted in the last year and relevant appendices；

　　6. Materials of application for qualification of the main person-in-charge to be appointed；

　　7. Certification document of business premises；

　　8. The description of computer software and hardware.

　　Where an increase of registered capital or capital contribution is required， the capital verificatio

n certificate issued by a capital verification organization with statutory qualification and the photocopy of the original bank receipt voucher evidencing payment of capital shall also be submitted.

　　Article 21

　　The CIRC shall examine the application for establishment of an insurance brokerage institution or its branch in accordance with the law and， within 20 days from the date of accepting the application， make a decision as to whether or not to approve the establishment. Where it decides not to approve the establishment， it shall notify the applicant in writing and state reasons therefor.

　　The CIRC may organize on-site checking acceptance inspection according to actual demand.

　　Article 22

　　Where the CIRC makes the decision to approve the establishment of an insurance brokerage institution or a branch， it shall issue a License to the applicant.

　　After receipt of the License， the applicant shall go through procedures of industrial and commercial registration in accordance relevant regulations and may start business only after receiving a business license.

　　Article 23

　　Any insurance brokerage institution and its branches established according to laws shall make announcement on the newspapers designated by the CIRC within 10 days from the date of starting the business.

　　Article 24

　　Any insurance brokerage institution shall deposit guarantee funds or purchase professional liability insurance.

　　Where an insurance brokerage institution deposits guarantee funds， it shall deposit 20% of its registered capital or capital contribution as guarantee funds within 20 days after industrial and commercial registration.

　　Where an insurance brokerage institution increases registered capital or capital contribution， it shall correspondingly increase the amount of guarantee funds.

　　Article 25

　　The guarantee funds of an insurance brokerage institution shall be paid in the form of bank deposit or other form accepted by the CIRC.

　　Where guarantee funds are paid in the form of bank deposit， the guarantee funds shall be deposited in a special account with a commercial bank operating nationwide. The deposit agreement shall contain the following provision： “Without the CIRC's written approval， no insurance brokerage institution shall use or dispose of guarantee funds. Where the bank fails to perform the obligation of examination， it shall bear a joint liability for the debt of the insurance brokerage institution within the limit of guarantee funds used.”

　　Article 26

　　An insurance brokerage institution shall submit the copy of guarantee deposit agreement to the CIRC within 10 days from the date of deposit of guarantee funds into the special account opened with a commercial bank.

　　Before January 31 of each year， an insurance brokerage institution shall submit to the CIRC a special report on the management of its guarantee deposit for the last year.

　　Article 27

　　An insurance brokerage institution shall not use guarantee deposit， except under one of the following circumstances：

　　1. Reduction of registered capital or capital contribution；

　　2. Entry into liquidation procedure according to these Rules.

　　Article 28

　　Where an insurance brokerage institution applies for using guarantee deposit because of decrease of registered capital or capital contribution， the following materials shall be submitted to the CIRC：

　　1. Application letter；

　　2. Materials certifying alteration of industrial and commercial registration concerning the reduction of registered capital or capital contribution.

　　Article 29

　　Where an insurance brokerage institution applies for using guarantee deposit because of entry into liquidation procedure according to these Rules， the liquidation committee shall submit the following materials to the CIR

C：

　　1. Application letter；

　　2. Liquidation plan；

　　3. The original License.

　　Where an insurance brokerage institution is dissolved， the resolution of the shareholders' meeting or meeting of all partners for dissolution and liquidation matters shall also be submitted. Where an insurance brokerage institution is declared bankrupt according to laws， relevant documents shall also be submitted.

　　Article 30

　　The License shall be placed at a conspicuous position of business premises.

　　Article 31

　　The validity period of the License of an insurance brokerage institution is 2 years. The insurance brokerage institution shall apply to the CIRC for renewal 30 days before the expiration of the License. To apply for the renewal of the License， the insurance brokerage institution shall submit the following materials：

　　1. Application letter；

　　2. The original License；

　　3. Audit report for the previous fiscal year issued by an accounting firm；

　　4. Balance sheet and profit statement as at the end of the month before application；

　　5. The statement of the status of the insurance broker‘s compliance with supervising insurance laws and regulations in the previous two years；

　　6. Description of supervision and inspection of insurance regulatory authority， industrial and commercial administration and tax authority that the insurance brokerage institution has accepted in the last 2 years and relevant appendices；

　　7. Description of supervision of insurance industrial organizations that the insurance agency institution has accepted in the last 2 years；

　　Article 32

　　Where an insurance brokerage institution falls into any of the following circumstances， the CIRC shall not renew the License：

　　1. No business conducted in the six consecutive months before applying for the renewal of the License；

　　2. Failure to conduct normal operation due to disorderly internal management；

　　3. Senior management personnel and business personnel do not fulfill the qualification requirements specified herein；

　　4. Failure to pay regulation fee in accordance with relevant stipulations.

　　Article 33

　　Where an insurance brokerage institution applies for the renewal of the License， the CIRC shall conduct comprehensive examination and evaluation of the operating status of the insurance brokerage institution for the previous 2 years before the expiration of the License and make a decision as to whether or not to approve the renewal of the License. Where it decides not to renew the License， it shall state reasons in writing.

　　Article 34

　　No insurance brokerage institution or its branches shall forge， alter， rent， lend or transfer the License.

　　Section 2 Alteration and Termination

　　Article 35

　　Where an insurance brokerage institution falls into one of the following circumstances， it shall report to the CIRC for approval：

　　1. Change of registered capital or capital contribution；

　　2. Change of organizational form；

　　3. Change of shareholders or partners；

　　4. Change of equity structure or proportion of capital contribution.

　　Article 36

　　Where an insurance brokerage institution changes its registered capital or capital contribution， it shall submit the following application materials in duplicate to the CIRC：

　　1. Application Form for Alterations of Ins

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