China Insurance Regulatory Commission, Guidelines for Contingency Administration of Major Unexpected Events in Insurance Asset Management
中国保险监督管理委员会保险资产管理重大突发事件应急管理指引
July 02, 2007 | BY
clpstaff &clp articlesThe CIRC reinforces contingency administration of major unexpected events in insurance asset management.
Promulgated: May 30 2007
Effective: As of date of promulgation
Interpreting Authority: China Insurance Regulatory Commission (CIRC)
Applicability: The phrase "major unexpected events in insurance asset management" refers to the major events faced by insurance institutions that arise suddenly, and that have caused or may cause a huge amount of loss to the insurance funds and jeopardize the normal operation of insurance asset management (Article 2). The term "insurance institutions" refers to insurance group (holding) companies, insurance companies and insurance asset management companies (Article 3).
Main Contents: Insurance institutions shall report to the CIRC major unexpected events that cause or may cause a major loss to insurance assets arising from circumstances such as:
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