Ministry Of Finance: Improving The Dispersion Mechanism Of Catastrophe Risk

< p > in the provision of reserves, the "Regulations" stipulate that the insurance institutions shall, according to the stipulate, collect the major disaster reserve (hereinafter referred to as the premium reserve and the profit reserve) separately in accordance with the certain proportion of "a" href= "http://www.91se91.com/news/index_c.asp" > Insurance > /a > premium income and excess underwriting profit.

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< p > at the same time, insurance institutions should, in accordance with relevant regulations, formulate fair and reasonable terms and rates for agricultural insurance, and establish a sound rate adjustment mechanism in combination with risk losses and operating conditions.

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< p > the full text is as follows: < /p >

< p > < strong > the management method of agricultural insurance catastrophe risk reserve < /strong > < /p >

< p > < strong > Chapter I General Provisions < /strong > < /p >

The first article "P" is to further improve the decentralized mechanism of the risk of agricultural insurance disaster, standardize the management of the risk reserve for agricultural insurance, and promote the sustainable and healthy development of agricultural insurance. This method is formulated in accordance with the regulations of the agricultural insurance, the "a href=" "http:// www.91se91.com/news/index_f.asp", financial "financial rules of the financial < /a >" and the policy of the central financial insurance premium subsidy.

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< p > > the major reserve for disaster mentioned in these second Measures refers to the reserve fund specially designed by the agricultural insurance agency (hereinafter referred to as the insurance agency) according to the relevant laws and regulations and the provisions of these measures, in order to enhance the risk resistance ability and deal with the risk of agricultural catastrophe in the process of operating agricultural insurance.

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< p > Third, this method applies to the agricultural insurance business of planting industry, aquaculture and forestry, which is subsidized by all levels of finance according to the regulations (hereinafter referred to as agricultural insurance). < /p >

< p > the management of the fourth major reserve funds follows the following principles: < /p >

< p > (1) operate independently.

In accordance with the provisions of these measures, the insurance institutions independently make provision for, use and manage the major disaster reserves, and manage and independently calculate the special accounts.

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< p > (two) adjust measures to local conditions.

In accordance with the provisions of these measures, the insurance institutions shall rationally determine the proportion of the reserve for major disasters according to the risk characteristics of different regions, the actual work of local agricultural insurance and their own risk control capabilities.

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< p > (three) grading management.

The headquarters of insurance institutions and the provincial branches of agricultural insurance (hereinafter referred to as the relevant provincial branches) shall, according to the provisions of these measures, make provision for, use and manage the major disaster reserve, and accept the supervision of the relevant departments according to law.

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< p > (four) co-ordinate the use.

The major reserve fund for insurance institutions can be used in coordination among all kinds of insurance categories of agricultural insurance and relevant provincial branches in order to make up for the loss of agricultural catastrophe risk.

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< p > < strong > > Second, the provision for the major disaster reserve is < /strong > < /p >.

< p > fifth insurance institutions shall, according to the provisions of these measures, collect the major reserve fund (hereinafter referred to as the premium reserve and profit preparation Fund) according to the proportion of the premium of agricultural insurance premium and the excess of < a href= "http://fz.sjfzxm.com/" > the underwriting profit < /a >.

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< p > sixth insurance institutions shall, in accordance with relevant regulations, draw up agricultural insurance clauses and rates in a fair and reasonable manner, and establish a sound rate adjustment mechanism in combination with risk losses and operating conditions.

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< p > insurance institution's agricultural insurance has realized the underwriting profit, and the underwriting profit rate has been higher than that of the property insurance industry for 3 consecutive years. In principle, the premium rate of the agricultural insurance profit insurance should be appropriately reduced, and the provincial financial department should supervise it according to law.

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< p > the insurance profit margin referred to in these measures is "1- comprehensive cost rate".

Among them, the comprehensive cost rate of property insurance industry is based on data released by industry regulatory authorities, and the comprehensive cost rate of insurance institutions is based on audited data.

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< p > seventh insurance institutions shall calculate the premium reserve in the form of premium income from major categories of insurance, such as planting, aquaculture and forests.

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< p > the insurance agency's headquarters for agricultural insurance shall refer to the provincial branch for reference to the premium reserve.

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< p > the premium income referred to in the present measures is the retained premium, that is, the net income of the insurance business minus the premium (in accordance with the accounting standards for domestic enterprises). < /p >

< p > eighth the proportion of premium reserve required by the insurance institutions shall be reasonably determined by the insurance agencies according to the scope of the table of the proportion of the proportion of the agricultural insurance risk reserve reserve (see Annex), based on the opinions of provincial finance departments and other departments concerned, and combined with the factors of agricultural disaster risk level, risk loss data and agricultural insurance operation conditions.

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< p > once the proportion is determined, it should be maintained for more than 3 years in principle.

During the period, if adjustment ratio is required due to special circumstances, it should be adjusted by the relevant provincial finance department of the insurance institution headquarters after the next year.

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< p > ninth insurers can calculate the premium reserve and the remaining balance can reach the premium retained in the current agricultural insurance.

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< p > tenth insurers operating agricultural insurance to achieve annual and accumulated underwriting profits, and meeting the following conditions, their headquarters should extract the statutory reserve fund and general (risk) reserve in accordance with the law, and raise the profit reserve from the annual net profit. The standard is the 75% of the excess underwriting profit (for example, if the excess underwriting profit is 75%, the total amount is calculated), and it can not be used for dividends and capital increase: < /p >

(P) (1) the overall underwriting profit margin of insurance institutions is more than that of its own property insurance business, and the comprehensive compensation rate of agricultural insurance is less than 70%; < /p >

< p > (two) the overall underwriting profit margin of professional agricultural insurance institutions exceeds the average of their own and property insurance underwriting profit margins, and its comprehensive compensation rate is less than 70%; < /p >

< p > (three) in the first two paragraphs, the insurance agency's own property insurance business is less than a href= "http://pop.sjfzxm.com/popimg/fz/index.aspx" > the underwriting profit margin is < /a >, the average value of the underwriting profit margin of the professional agricultural insurance agency itself and the property insurance industry is negative, according to its average value in the past 3 years (such as the mean value in the past 3 years is negative or less than 3 years is determined by 0), the profit reserve that should be calculated is calculated.

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< p > in which the comprehensive compensation rate of property insurance industry is based on the data released by the industry regulatory authorities, and the comprehensive compensation rate of insurance institutions is based on the audited data.

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< p > eleventh insurance institutions shall, in accordance with relevant regulations, make timely and full provision for major disaster reserves, and reflect them in the annual financial statements, and accumulate them every year, and gradually accumulate the ability to cope with the risk of agricultural catastrophe.

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< p > < strong > Third the use of the major disaster reserve is < /strong > < /p >.

< p > twelfth major disaster reserve funds can be used to make up for the loss of agricultural catastrophe risk.

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< p > insurance institutions should use internal related procedures to use the disaster reserve.

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< p > thirteenth insurance institutions shall use the comprehensive compensation rate of large categories of agricultural insurance as the trigger standard for the use of the major reserve fund.

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< p > fourteenth, when the following circumstances occur, the insurance institutions can use the major reserve fund: < /p >

< p > (1) the relevant provincial branches or headquarters of insurance agencies, whose comprehensive compensation rate for agricultural insurance categories exceeds 75% at the end of 6 and 12 months of the year (specifically determined by insurance institutions and actual conditions, hereinafter referred to as the "big disaster compensation rate"), and at least 1 times in the case of compensation claims, the reported compensation rate for the accident year has not been lower than that of the major disaster compensation rate, and the premium reserve in this area can be used on the basis of reinsurance.

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< p > (two) in accordance with the provisions of the preceding paragraph, it is not enough to pay the indemnity, the headquarters of the insurance institution may use the profit reserve; if there is still insufficient, the compensation for the disaster reserve and other means of the provincial branches shall be made through the co-ordination.

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< p > the rate of reported loss in the year mentioned in the present measures is = (the amount of estimated damages and the estimated amount of loss that has been reported) and the earned premium.

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< p > the use quota of the fifteenth major disaster reserves is limited to the actual compensation rate of large categories of agricultural insurance coverage, which exceeds the maximum disaster compensation rate.

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< p > insurance institutions should take effective measures to pay the insurance premium payable in full and in time, and not to pay compensation illegally.

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< p > the claim has been repaid after the reinsurance measures mentioned above: the outstanding indemnity - the reinsurance claim.

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< p > < strong > fourth chapter: management of the major disaster reserve < /strong > < /p >

< p > sixteenth insurance institutions should strengthen the management of major disaster reserves according to the principles of special account management and independent accounting.

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< p > seventeenth premium reserve for current insurance institutions shall be included in the cost and shall be included in the profits and losses of the current period.

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< p > the profit reserve stipulated by the insurance institution is shown below the owner's equity.

Financial treatment shall be carried out in accordance with the relevant reserve provisions of the financial rules for financial enterprises.

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< p > eighteenth insurance institutions shall, in accordance with the relevant provisions of the application of insurance funds, prudently carry out the application of funds for large disaster reserves in accordance with their internal investment management system, and incorporate capital gains into the management of special funds for large disaster reserves.

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< p > nineteenth insurance institutions should strengthen disaster prevention and loss prevention with relevant parties, and disperse agricultural catastrophe risk through multiple channels through reinsurance.

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< p > twentieth insurance institutions provide large disaster reserves, and enjoy the pre Tax Deduction Policy in accordance with tax laws and relevant regulations.

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< p > twenty-first insurers no longer engage in agricultural insurance. They may return the premium reserve as they have been in the previous year as a profit and loss each year, and pay the enterprise income tax according to the state's tax policy.

The profit reserve can be pferred to the general (risk) reserve and be used in accordance with relevant regulations.

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< p > twenty-second departments of Finance and industry at all levels shall supervise the provision, management and use of the major disaster reserves according to law.

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< p > twenty-third insurance institutions shall, in accordance with the relevant provisions, make timely and adequate provision for major disaster reserves, and report the provision, use and management of the major reserve funds for last year to the same level financial departments and industry regulatory departments by the end of May each year.

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< p > provincial financial departments should report to the Ministry of finance before the end of June of each year, including the provision, use and management of the disaster reserve for insurance institutions in the region.

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< p > < strong > fifth chapter annex > /strong > < /p >.

< p > twenty-fourth insurance institutions shall, in accordance with the provisions of these measures, formulate and improve the implementation rules for the management of major reserve funds and report to the financial departments at the same level.

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< p > twenty-fifth encourages local governments to prevent and disperse the risk of agricultural catastrophe through various forms.

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< p > twenty-sixth measures for the management of the large disaster reserve fund of the non corporate mutual aid insurance organization shall be formulated separately.

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< p > twenty-seventh, the measures shall come into force on January 1, 2014.

If the relevant provisions previously issued by the Ministry of finance are inconsistent with the present measures, the present Measures shall prevail.

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< p > the insurance funds shall be managed and used in accordance with the provisions of these measures before the effective entry of these measures.

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