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Chapter Law Content

Title: Regulations Governing the Supervision of Insurance Solicitors CH
Category: Financial Supervisory Commission(金融監督管理委員會)
Chapter 1 General Provisions
Article 1
These Regulations are adopted under Article 177 of the Insurance Act ("the Act").
Article 2
For the purposes of these Regulations, the following terms shall have the following meanings:
1. Solicitor: means an insurance solicitor as set forth under Article 8-1 of the Act.
2. Bank: means a bank approved by the competent authority to engage concurrently in either insurance agent or insurance broker business.
3. Employing company: means an insurance enterprise, an insurance agent company, an insurance broker company, or a bank.
4. Appropriate industry association: refers to either the Non-Life Insurance Association of the Republic of China or the Life Insurance Association of the Republic of China.
5. Engaging in the same type of insurance business: means both employing companies engage in non-life insurance or life insurance.
Article 3
A solicitor may not solicit insurance for the employing company unless he or she has been registered and obtained a registration certificate in accordance with these Regulations.
A service agreement entered into by and between a solicitor and an employing company shall be subject to the Civil Code and other relevant acts and regulations.
Article 4
The types of insurance that a solicitor may solicit shall be as determined by the employing company, provided that the competent authority has discretion, after considering the development status of the insurance business, to require that solicitors pass a special examination before they are allowed to solicit a particular type of insurance.