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Important Measures

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Amendments to the Regulations Governing the Supervision of Insurance Solicitors

The FSC announced the amendments to the aforementioned Regulations on March 18, 2019 to meet practical needs. The key points of the amendments were as follows:
1.According to Article 6 of the Regulations, when an insurance solicitor’s registration is revoked because he/she has failed to attend training or failed retraining, the solicitor shall retake the qualification examination. Because that Article can make sure that the solicitor has required professional knowledge about insurance, Article 7 of the Regulations that prohibited a solicitor from registration or cancelled his/her registration if his/her registration has been revoked due to the aforementioned failure for less than a year is removed.
2.New regulation is introduced to allow an insurance company to inquire about registration information of its business solicitors.
3.Given that whether a business solicitor may or may not register under another insurance company or insurance agent company not engaged in the same type of insurance business of his/her company, should be governed by a service agreement between the solicitor and his/her company and not stipulated by law, the FSC removed the provision that requires the solicitor to obtain his/ her company’s permission to register under another company.
4.To clear up doubts, the text of “Have otherwise acted in a manner that violates laws and regulations or damages the image of the insurance business.” in Subparagraph 18 of Paragraph 1 of Article 19 of the Regulations is changed to “Other misconduct using the identity of a (insurance) business solicitor. “
Visitor: 173   Update: 2019-04-23