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Important Measures

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Amendments to the Standards for the Levy Rates of Life and Non-life Insurance Guaranty Fund

The FSC introduced the amendments to Article 2, 3 and 4 of the aforementioned Standards on January 2, 2019 in order to encourage insurance companies to strengthen information security management and control, encourage non-life insurance companies to develop a variety of insurance products promoted by the Financial Development Action Plan, and comply with the amendments to the calculation of the product structure composite score. Key points of the amendments are as follows:

1. Addition or amendment of the calculation of operation and management performance indicators related to the contribution to the Life Insurance Guaranty Fund: (1) introduction of “Information Security Management Indicator”; (2) amendment of “Legal Compliance Indicator” and addition of the weighting of “Information Security Management Indicator” in 2019; (3) amendment of the formula or definition of product structure composite score and introduction of applicable standards for 2020.

2. Addition or amendment of the calculation of operation and management performance indicators related to the contribution rate to the Non-life Insurance Guaranty Fund: (1) introduction of Information Security Management Indicator” and Situation of Providing Insurance Coverage in Support of Government Policies”; (2) amendments of the weightings of “Legal Compliance Indicator” and “Import Substitution of Financial Services Indicator” and addition of the weightings of Information Security Management Indicator” and Situation of Providing Insurance Coverage in Support of Government Policies” in 2019.

Visitor: 106   Update: 2019-02-20