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保险公司非寿险业务准备金管理办法 (征求意见稿)Administrative Measures for the Reserves for Non-life Insurance Business of Insurance Companies (Draft for Solicitation of Comments)

Administrative Measures for the Reserves for Non-life Insurance Business of Insurance Companies (Draft for Solicitation of Comments)

 

Chapter I General Provisions

 

Article 1 For the purposes of strengthening the supervision over the reserves for non-life insurance business of insurance companies, ensuring the sound and stable operations as well as the adequate solvency of insurance companies and protecting the interests of the insured, these Measures are hereby formulated in accordance with the Insurance Law of the People's Republic of China (hereinafter, the “Insurance Law”) and other pertinent laws and administrative regulations.

Article 2 The term "non-life insurance business" mentioned herein refers to the insurance business other than the life insurance business, including the business of property loss insurance, liability insurance, credit insurance, guarantee insurance, short-term health insurance and incident insurance as well as the reinsurance business of the foregoing.

Article 3 The term "insurance companies" mentioned herein refers to the insurance companies duly incorporated within the territory of the People's Republic of China and engaged in the aforesaid non-life insurance business, including property insurance companies, personal insurance companies and reinsurance companies.

Article 4 An insurance company shall establish and improve its internal control policy on the reserve management, and define roles and responsibilities and work processes. An insurance company shall, in accordance with the regulations of the China Banking and Insurance Regulatory Commission (“CBIRC”), evaluate the various reserves by following the non-life insurance actuarial theories and approaches and principles of objectivity and prudence, and shall adequately and reasonably keep aside and carry over various reserves.

Article 5 The CBIRC and its dispatched agencies shall supervise the reserves of the non-life insurance companies in accordance with the law.

 

Chapter II Types of Reserves and Evaluation Method 

 

Article 6 The reserves for non-life insurance business of insurance companies include undue duty reserves and outstanding claims reserves.

Article 7 The "undue duty reserve" refers to the reserve kept aside for the insurance duty that has not been due on the reserve valuation date, including the unearned premium reserve and the premium deficiency reserve.

Article 8 The “unearned premium reserve” refers to the reserve kept aside on the basis of the unearned premium income, deducting the undue part of the insurance policy costs associated with obtaining the insurance premium income.

Article 9 The unearned premium reserve shall be determined by the following methods:

(1) 1/365;

(2) Risk allocation;

(3) Any other methods approved by the CBIRC.

Article 10 An insurance company shall conduct a premium adequacy test in the course of evaluating the undue duty reserve, and keeps aside a premium deficiency reserve based on the test results as part of the undue duty reserve.

Article 11 The “outstanding claims reserve” refers to the reserve kept aside by an insurance company for incurred but not settled claims, including the reported but not settled (“RBNS”) claims reserve, the incurred but not reported (“IBNR”) claims reserve, and claim expenses reserve.

Article 12 The “RBNS claims reserve” refers to the reserve kept aside by an insurance company for incurred claims that have been reported to the insurance company but not yet been settled by the insurance company.

Article 13 The RBNS claims reserve shall be determined by the following methods:

(1) Case-by-case estimate;

(2) Assignment per claim incurred;

(3) Any other methods approved by the CBIRC.

Article 14 The “IBNR claims reserve” is the reserve kept aside for the following circumstances:

(1) Where the insured incidents have incurred but the claims have not yet been reported to the insurance company;

(2) Where the claims have been reported to but not recorded by the insurance company;

(3) Where the claims have been recorded by the insurance company, but the insurance company has underestimated the incident losses and the final claims are expected to exceed the originally estimated losses;

(4) Where the claims have been settled but further claims might be reported later on.

Article 15 The IBNR claims reserve shall be determined by the following methods based on the risk nature, distribution characteristics, empirical data and other factors of the insurance type:

(1) Chain ladder;

(2) Payment per claim incurred;

(3) Reserve progression

(4) Bornhuetter-Ferguson;

(5) Loss ratio;

(6) Any other methods approved by the CBIRC.

Article 16 The “claim expenses reserve” refers to the reserve kept aside for probable losses from the unsettled claims, including the direct claim expenses (such as expert fees, attorney fees, loss inspection fees, etc.) reserve and the indirect claim expenses (not directly incurred in specific claims) reserve.

Article 17 The direct claim expenses reserve for incurred and reported cases shall be determined by the method set forth in Article 13 hereof; the direct claim expenses reserve for IBNR cases shall be determined by the method set forth in Article 15 hereof; the indirect claim expenses reserve shall be kept aside by apportionment on a reasonable pro rata basis.

Article 18 The various reserves for non-life insurance business of an insurance company shall include the risk margin and take into account the time value of money.

 

Chapter III Internal Control Management

 

Article 19 The reserve management shall implement a hierarchical authorization mechanism among the board of directors, management, actuarial and related functional departments, and branches of an insurance company, who shall have clearly defined powers, roles and responsibilities, and work with each other and supervise each other.

Article 20 The adjustment of the reserve valuation method and assumptions having a significant impact on the insurance company shall first obtain approval of the chief actuary, and then be submitted to the company's board of directors or the company's management decision-making body officially authorized by the board of directors for review.

Article 21 An insurance company shall strengthen its quality management of the data required for the reserve valuation and ensure that the reserve data is true, accurate, complete, consistent and valid.

Article 22 An insurance company shall establish and improve a reserve valuation information system and ensure that the reserve valuation process is fully recorded and saved.

Article 23 An insurance company shall establish a branch reserve valuation or apportionment mechanism, and shall not adjust the branch reserve in violation of regulations.

Article 24 If the headquarter of an insurance company is not directly engaged in operation, it shall not retain reserves at the headquarter level.

Article 25 An insurance company shall establish a reserve paperwork system.

Article 26 An insurance company shall disclose reserve information in accordance with regulations.

 

Chapter IV Supervision

 

Article 27 The CBIRC and its dispatched agencies shall adopt both on-site and off-site supervision over the insurance company reserves.

Article 28 The chief actuary of an insurance company shall be responsible for the valuation of the reserves and perform actuarial duties fairly and objectively. The chief actuary shall offer actuarial opinions to the CBIRC or its dispatched agencies, and shall promptly report to the CBIRC or its dispatched agencies the major risks of the insurance company’s reserves.

Article 29 An insurance company shall submit a reserve valuation report, a reserve retrospective analysis report and other reports required by the CBIRC or its dispatched agencies to the CBIRC or its dispatched agencies in accordance with regulations. The CBIRC or its dispatched agency shall conduct random checks and reviews of the above-mentioned reports submitted by the insurance company in accordance with the law.

Article 30 The CBIRC or its dispatched agencies can adjust the content and frequency of the reserve-related reports of all or certain companies in accordance with the needs of prudential supervision, and require insurance companies to hire a third party to independently audit the reserve valuation reports.

Article 31 An insurance company shall analyze retrospectively the reserve valuation results on a regular basis, and the CBIRC or its dispatched agencies shall take corresponding supervisory measures over insurance companies based on the results of the retrospective analysis.

Article 32 The CBIRC or its dispatched agencies shall investigate infractions of the insurance company and impose disciplinary action upon such insurance company depending on the reserve status in accordance with the law.

 

Chapter V Legal Liabilities

 

Article 33 If any reserve valuation report, reserve retrospective analysis report, and related statement, document, or information prepared or provided by an insurance company is false, the CBIRC or its dispatched agencies will, in accordance with the Insurance Law, order the insurance company to take corrective action and impose a fine of not less than RMB10,000 but not more than RMB500,000, up to restriction of business scope, stopping of new business, or revoking of business permits where the circumstances are severe. The person directly in charge and the other persons directly responsible will be given a warning by the CBIRC or its dispatched agency, and be imposed a fine of not less than RMB10,000 but not more than RMB100,000, up to revocation of qualifications where the circumstances are severe in accordance with the Insurance Law

Article 34 If an insurance company fails to keep aside or carry forward various duty reserves in accordance with the regulations, and is engaged in any of the following, the CBIRC or its dispatched agency will, in accordance with the Insurance Law, impose a fine of not less than RMB50,000 but not more than RMB300,000, up to restriction of business scope, stopping of new business, or revoking of business permits where the circumstances are severe. The person directly in charge and the other persons directly responsible will be given a warning by the CBIRC or its dispatched agency, and be imposed a fine of not less than RMB10,000 but not more than RMB100,000, up to revocation of qualifications where the circumstances are severe in accordance with the Insurance Law:

(1) Failure to keep aside the undue duty reserve in accordance with Articles 9 and Article 10 hereof;

(2) Failure to keep aside the RBNS claims reserve in accordance with Article 13 hereof;

(3) Failure to keep aside the IBNR claims reserve in accordance with Article 15 hereof;

(4) Failure to keep aside the claim expenses reserve in accordance with Article 17 hereof;

(5) Failure to take into account the risk margin and the time value of money in accordance with Article 18 hereof;

(6) Violation of Article 23 and Article 24 hereof.

Article 35 If an insurance company is engaged in any of the following, the CBIRC or its dispatched agency will, in accordance with the Insurance Law, order the insurance company to take corrective action within a time limit, and will further impose a fine of not less than RMB10,000 but not more than RMB100,000 if the insurance company fails to take corrective action within the time limit:

(1) Failure to keep the reserve paperwork in accordance with Article 25 hereof;

(2) Failure to disclose the reserve information in accordance with Article 26 hereof;

(3) Failure to submit the reserve valuation report or the reserve retrospective analysis report in accordance with Article 29 hereof, or failure to provide the relevant information and documents of the reserves in accordance with the regulations.

Article 36 If an insurance company is in breach of Article 19, Article 20, Article 21, and Article 22 hereof, the CBIRC or its dispatched agencies will give the insurance company a warning and impose a fine of not less than RMB10,000 but not more than RMB30,000. The person directly in charge and the other persons directly responsible will be given a warning, and be imposed a fine of not less than RMB10,000 but not more than RMB30,000

   

Chapter VI Supplementary Provisions

 

Article 37 The CBIRC shall formulate and promulgate the Implementation Rules for the Administrative Measures for the Reserves for Non-life Insurance Business of Insurance Companies.

Article 38 The China Association of Actuaries shall formulate and publish practical guidelines and industry reference standards for non-life insurance business reserve evaluation.

Article 39 These Measures shall be applicable to policy insurance companies, mutual insurance companies and self-insurance companies, etc., unless otherwise provided by laws and regulations.

Article 40 These measures shall be subject to the interpretation of the CBIRC.

Article 41 These Measures shall take effect on [date]. The Administrative Measures for the Reserves for Non-life Insurance Business of Insurance Companies (Trial) promulgated by the former China Insurance Regulatory Commission (“CIRC”) (CIRC Order [2004] No. 13) shall be repealed from the date of implementation of these Measures.

Article 42 If there is any inconsistency or conflict between the regulations promulgated by the former CIRC regarding the non-life insurance business reserves and these Measures and their Implementation Rules, these Measures and their Implementation Rules shall prevail. The Implementation Rules will be separately promulgated.

 

保险公司非寿险业务准备金管理办法

(征求意见稿)

 

第一章 总则

 

第一条 为了加强对保险公司非寿险业务准备金的监督管理,保证保险公司稳健经营和偿付能力充足,保护被保险人利益,根据《中华人民共和国保险法》(以下简称《保险法》)等法律、行政法规,制定本办法。

第二条 本办法所称非寿险业务,是指除人寿保险业务以外的保险业务,包括财产损失保险、责任保险、信用保险、保证保险、短期健康保险和意外伤害保险业务以及上述业务的再保险业务。

第三条 本办法所称保险公司,是指在中华人民共和国境内依法设立的经营上述非寿险业务的保险公司,包括财产保险公司、人身保险公司及再保险公司。

第四条 保险公司应建立并完善准备金管理的内控制度,明确职责分工和工作流程。保险公司评估各项准备金,应按照银保监会的规定,遵循非寿险精算的原理和方法,保持客观、谨慎,并充足、合理地提取和结转各项准备金。

    第五条 银保监会及其派出机构依法对保险公司非寿险业务准备金进行监管。

 

第二章 准备金的种类及评估方法

 

    第六条 保险公司非寿险业务准备金包括未到期责任准备金及未决赔款准备金。

第七条 未到期责任准备金是指在准备金评估日为尚未终止的保险责任而提取的准备金,包括未赚保费准备金及保费不足准备金。

第八条 未赚保费准备金是指以未满期部分保费收入为基础所计提的准备金,并应减除与获取保费收入相关联的保单获取成本的未到期部分。

第九条 对未赚保费准备金,应当采用以下方法确定:

(一)三百六十五分之一法;

(二)风险分布法;

(三)银保监会认可的其他方法。

第十条 险公司应在未到期责任准备金评估过程中进行保费充足性测试,并根据测试结果提取保费不足准备金,作为未到期责任准备金的一部分。

第十一条 未决赔款准备金是指保险公司为保险事故已经发生但尚未最终结案的损失提取的准备金,包括已发生已报案未决赔款准备金、已发生未报案未决赔款准备金和理赔费用准备金。

第十二条 已发生已报案未决赔款准备金是指为保险事故已经发生并已向保险公司提出索赔,保险公司尚未结案的损失而提取的准备金。

第十三条 对已发生已报案未决赔款准备金,应当采用以下方法确定:

(一)逐案估计法;

(二)案均赋值法;

(三)银保监会认可的其它方法。

第十四条 已发生未报案未决赔款准备金是为下列情况所提取的赔款准备金:

(一)保险事故已经发生但尚未向保险公司提出索赔的;

(二)已经提出索赔但保险公司尚未立案的;

(三)保险公司已立案但对事故损失估计不足,预计最终赔付将超过原估损值的;

(四)保险事故已经赔付但有可能再次提出索赔的。

第十五条 对已发生未报案未决赔款准备金,应当根据险种的风险性质、分布特征、经验数据等因素采用以下方法确定:

(一)链梯法;

(二)案均赔款法;

(三)准备金进展法;

(四)B-F法;

(五)赔付率法;

(六)银保监会认可的其他方法。

第十六条 理赔费用准备金是指为尚未结案的损失可能发生的费用而提取的准备金。包括为直接发生于具体赔案的专家费、律师费、损失检验费等提取的直接理赔费用准备金,以及为非直接发生于具体赔案的费用而提取的间接理赔费用准备金。

第十七条 对已发生已报案案件的直接理赔费用准备金,应采用第十三条中规定的方法确定;对已发生未报案案件的直接理赔费用准备金,应采用第十五条中规定的方法确定;对间接理赔费用准备金,应采用合理的比率分摊法提取。

第十八条 保险公司提取的各项非寿险业务准备金应包含风险边际并考虑货币时间价值。

 

第三章 内控管理

 

第十九条 保险公司的董事会、管理层、精算及相关职能部门、分支机构在准备金管理中应分级授权,权责分明,分工合作,相互制约。

第二十条 准备金评估方法、假设的调整对保险公司产生显著影响的,应经总精算师同意后,提交公司董事会决议,或由董事会正式授权公司经营管理层决策机构审议。

第二十一条 保险公司应加强准备金评估所需数据的质量管理,以保证准备金数据真实、准确、完整、一致、有效。

第二十二条 保险公司应建立并完善准备金评估信息系统,以保证准备金的评估流程进行完整的记录、保存。

第二十三条 保险公司应建立分支机构的准备金评估或分摊机制,不得违规调整分支机构的准备金。

第二十四条 保险公司总公司不直接经营业务的,不得在总公司本级留存准备金。

第二十五条 保险公司应建立准备金工作底稿制度。

第二十六条 保险公司应按照规定披露准备金信息。

 

第四章 监督管理

 

第二十七条 银保监会及其派出机构对保险公司准备金的监督管理,采取现场监管与非现场监管结合的方式。

第二十八条 保险公司总精算师负责准备金评估工作,公正、客观地履行精算职责银保监会或其派出机构提供精算意见,并应当向银保监会或其派出机构及时报告保险公司准备金的重大风险隐患。

第二十九条 保险公司应按规定向银保监会或其派出机构报送准备金评估报告、准备金回溯分析报告和银保监会或其派出机构要求的其他报告。银保监会或其派出机构依法对保险公司报送的上述报告进行抽查审核。

第三十条 银保监会或其派出机构可以根据审慎监管需要,调整所有公司或部分公司的准备金相关报告的报送内容、报送频率,要求保险公司聘请第三方对准备金评估报告进行独立审核。

第三十一条 保险公司应定期对准备金评估结果进行回溯分析, 银保监会或其派出机构根据回溯分析结果对保险公司采取相应监管措施。

第三十二条 银保监会或其派出机构依法对保险公司准备金计提的违法违规行为进行查处。

 

第五章 法律责任

 

第三十三条 保险公司编制或者提供虚假的准备金评估报告、准备金回溯分析报告以及相关报表、文件、资料的,由银保监会或其派出机构依照《保险法》相关规定责令改正,并处十万元以上五十万元以下的罚款;情节严重的,可以限制其业务范围、责令停止接受新业务或者吊销业务许可证。对直接负责主管人员和其他直接责任人员, 由银保监会或其派出机构依照《保险法》相关规定给予警告,并处一万元以上十万元以下的罚款;情节严重的,撤销任职资格。

第三十四条 保险公司未按照规定提取或者结转各项责任准备金,存在以下行为之一的,由银保监会或其派出机构依照《保险法》相关规定处五万元以上三十万元以下的罚款;情节严重的,可以限制其业务范围、责令停止接受新业务或者吊销业务许可证。对直接负责主管人员和其他直接责任人员, 由银保监会或其派出机构依照《保险法》相关规定给予警告,并处一万元以上十万元以下的罚款;情节严重的,撤销任职资格:

(一)未按照本办法第九条、第十条的规定提取未到期责任准备金的;

(二)未按照本办法第十三条的规定提取已发生已报案未决赔款准备金的;

(三)未按照本办法第十五条的规定提取已发生未报案未决赔款准备金的;

(四)未按照本办法第十七条的规定提取理赔费用准备金的;

(五)未按照本办法第十八条的规定考虑风险边际及货币时间价值的;

(六)违反本办法第二十三条、第二十四条规定的。

第三十五条 保险公司有下列行为之一的,由银保监会或其派出机构依照《保险法》相关规定责令限期改正,逾期不改正的,处一万元以上十万元以下的罚款:

(一)未按照本办法第二十五条的规定保管准备金工作底稿的;

(二)未按照本办法第二十六条的规定披露准备金信息的;

(三)未按照本办法第二十九条的规定报送准备金评估报告、准备金回溯分析报告或未按照规定提供准备金有关信息、资料的。

第三十六条 保险公司违反本办法第十九条、第二十条、第二十一条、第二十二条规定的,由银保监会或其派出机构给予该保险公司警告,并处一万元以上三万元以下的罚款;对其直接负责的主管人员和其他直接责任人员给予警告,并处一万元以上三万元以下的罚款。

   

第六章 附则

 

第三十七条 银保监会制定并发布实施《保险公司非寿险业务准备金管理办法实施细则》。

第三十八条 中国精算师协会制定并发布非寿险业务准备金评估实务指南和行业参考标准。

第三十九条 政策性保险公司、相互制保险公司、自保公司等适用本办法,法律法规另有规定的除外。

第四十条 本办法由银保监会负责解释。

第四十一条 本办法自X年X月X日起施行。原中国保险监督管理委员会发布的《保险公司非寿险业务准备金管理办法(试行)》(保监会令〔2004〕第13号)自本办法实施之日起废止。

第四十二条 原中国保险监督管理委员会发布的关于非寿险业务准备金的相关规定与本办法及实施细则不一致的,以本办法及实施细则为准,实施细则另行发布。