Based on the domestic and international comparison, this project borrows the experience of foreign leading legislative practices and analyzes the problems existing in China’s current insurance security fund system. On this basis, this project explores the absence of the early corrective function of the insurance security fund, the enrichment of the resolution toolkit and the refinement of the remedy standard, and puts forward several policy suggestions.
Major achievements of this research include: First, review major contents of the Measures for Administration of the Insurance Security Fund(“the Measures”), and reveal the problems it has in relation to level of legal effect, definition of important content, relation between CISFC and regulators, remedy standard, immediate correction mechanism, risk resolution measure and other aspects. Second, research some important concepts involved in the Measures, point out the problems existing in the concepts of policyholder, insurance benefit, policy interest and bankruptcy implementation, and put forward revision suggestions. Third, research the immediate corrective measures, indicate the current status and problems of the legislation in China, and advance reasonable revision suggestions. Fourth, explore diverse risk resolution modes of the Chinese insurance industry, and come up with the innovative emerging resolution mode that CISFC can provide liquidity support for problem insurance companies and participate in the corporate governance as a creditor. At the same time, the project further states the rectification, trust, takeover and other resolution modes. Fifth, analyze the legislative cases of the European Union and China Taiwan in relation to remedy standards, and put forward revision suggestions based on China’s actual conditions. Besides, based on the aforesaid theoretical research, this project suggests converting mature suggestions into articles, and preliminarily drafts the table of comparison for the amendment of the Measures to serve as the reference for legislation next step.