The China Banking and Insurance Regulatory Commission publicly solicits opinions on the”Management Measures for Pledged Loans of Life Insurance Companies (Draft for Comment)”
The China Banking and Insurance Regulatory Commission announced on its official website today (29th) that it is seeking public opinions on the”Management Measures for Pledged Loans of Life Insurance Companies (Draft for Comment)”.
In recent years, with the rapid development of life insurance business, the scale of policy pledge loan business has continued to grow. In order to improve regulatory rules and internal control standards, prevent and control business operations and financial risks, and effectively protect the interests of insurance consumers, the China Banking and Insurance Regulatory Commission has drafted the”Management Measures for Pledged Loans of Life Insurance Companies (Draft for Comment)” to solicit public opinions.
The specific content of the”Administrative Measures” includes:
- First, define the definition and nature of life insurance company policy pledge loans, clarify its legal and business attributes, and the scope of insurance policies that can provide loans, and policy loans Principles of insurance compensation during the period.
The second is the regulationsbusiness rules followed by life insurance company policy pledge loans. Including loan terms, loan agreement, loan interest rate, term, ratio, etc.
The third is to standardize the management requirements for life insurance companies to carry out insurance policy pledge loan business, including management systems and information systems, Solvency and liquidity management, anti-money laundering, case risk and internal control requirements, etc.
Fourth, clear life insurance company policy pledge loan business should be included the national credit information base database strong>, and stipulates related process requirements.
Fifth, clear policy pledge registration rules, regulation pledge registration platformConditions and requirements.
Sixth, clear supervision and inspection and supervision measures for violations.
The relevant person in charge of the China Banking and Insurance Regulatory Commission stated that the next step will be to listen to all opinions and suggestions, and further improve and revise the”Administrative Measures” based on feedback from all walks of life and release them in due course.
(CCTV reporter Wang Shantao)
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