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Chapter Law Content

Title: Regulations Governing Insurance Surveyors CH
Category: Financial Supervisory Commission(金融監督管理委員會)
Chapter 5 Management
Article 26
When practicing, a surveyor shall place his or her signature on survey reports and other relevant documents and duly bear any related liability.
Article 27
A surveyor shall be independent and impartial in practice, shall give consideration to the interests of both the insurer and the insured, and shall abide by the principle of good faith. He or she shall be obligated to faithfully inspect and evaluate business undertaken, and shall not engage in any improper practice or neglect his or her rightful professional duties.
Article 28
A surveyor shall not engage in surveying business for his or her own interest or for a principal with whom he or she has an interest relationship.
Article 29
Business undertaken by a surveyor shall not be re-consigned to another surveyor without the written consent of the principal.
Article 30
In practicing surveying business, a surveyor shall preserve survey reports for inspection by the competent authority.
All documents to be preserved under the preceding paragraph shall be preserved for no less than 5 years, provided that where otherwise specified by an act or regulation, such other provision shall apply.
Article 31
A surveyor shall have a fixed place of business that shall not be located within the head office or branch office of an insurance company.
Where a surveyor company changes any registered item on the company practice license, it shall, within 30 days, submit an amendment registration form and pay the fees set by the competent authority for replacement of the practice license.
Surveyors shall prominently display the originals of their practice licenses at their places of business.
Independent surveyors shall display the originals or photocopies of their practice licenses and service certifications when practicing business.
Article 32
A surveyor shall set up special account books to record business income and expenditures and shall compile the various business and financial statements and submit them to the competent authority or the institution designated thereby within the time limit set by the competent authority; the formats of the statements shall be separately prescribed by the competent authority.
The competent authority may from time to time send personnel to inspect the operations and assets and liabilities of surveyors or order them to report the status of their operations within a time limit.
The competent authority may from time to time send personnel to inspect the operations and assets and liabilities of surveyors or order them to report the status of their operations within a time limit. With respect to the inspection opinions of the competent authority or deficiencies identified by the competent authority in an inspection, a surveyor shall take specific improvement actions and continue to follow up on the actions taken, and report the implementation of improvement actions to the competent authority within the time period prescribed by the competent authority. The surveyor company shall submit a written report on the follow-up of improvement actions taken to its board of directors and supervisors or audit committee for review.
Article 33
After obtaining registration of permission with the competent authority, a surveyor shall join the surveyors association.
A surveyor who has not joined the surveyors association and obtained a membership certificate in accordance with the preceding paragraph may not apply for a practice license to operate or practice in business.
Article 34
When the surveyors association is established or holds reelections, it shall report its articles of incorporation, list of members, and list of directors and supervisors to both the Ministry of the Interior and the competent authority for recordation.
The surveyors associations shall disclose on its website the name, capital, place of business of its member companies, operating bonds deposited and liability insurance purchased by members companies and other matters as required by the competent authority.
Article 35
A surveyor company that has not been sanctioned by the competent authority within the last one year for violating an act or regulation may apply to the competent authority for approval to establish a branch office.
A surveyor company that applies for the establishment of a branch office shall employ a surveyor to serve as a signatory and submit the following documents to the competent authority for registration of permission:
1. An application form clearly stating the name and location of the branch office.
2. The minutes of the board of directors meeting resolving to establish the branch office.
3. Proof of identity for the designated managers of branch offices and proof of their compliance with the qualification requirements set out in Article 11 herein.
4. A photocopy of the valid practice license of surveyors employed or certification showing that any surveyors employed meet the qualification requirements set out in these Regulations and any of the following certifications:
(1) Certification of pre-job training, obtained within the past 2 year before submission of the application and recognized by the competent authority;
(2) For an employed surveyor whose certification of pre-job education and training was obtained more than two years ago, submit such certification along with certification of on-the-job training under Article 25; or
(3) Where registration of permission is based on the qualifications set out in subparagraph 3, paragraph 1 of Article 5 herein, certification of on-the-job training set out in Article 25 herein.
5. Proof of identity for any surveyors employed.
6. A written statement from the designated managers of branch office and surveyors employed undertaking that they are free of the situations set out in subparagraphs 1 through 9 and 12 to 19 of paragraph 1, Article 6.
7. A business plan for the branch office.
8. Other documents as required by the competent authority.
A surveyor company shall, in the six months of the approval of branch office establishment, submit an application form and a written statement undertaking that the manager of branch office and surveyor s to be employed are free of situations set out in subparagraphs 10 and 11 of paragraph 1, Article 6 herein to the competent authority for issuance of a practice license for the branch office.
Article 36
When a surveyor company plans to establish a subsidiary, branch office, or representative office or makes equity investment in a foreign country, relevant provisions of the Regulations Governing Permission of Insurance Business Transactions and Investment Between the Taiwan Area and the Mainland Area shall apply mutatis mutandis with respect to application criteria, required documentation, financial and business management, etc.
Article 37
A surveyor shall not commit any of the following acts:
1. Make a false representation when applying for a practice license.
2. Collect extra remuneration from a party to or interested party of an insurance contract.
3. Provide the practice license for use by others.
4. Make exaggerated, false, or misleading claims or advertisements or use other improper methods when engaging in business.
5. Issue a false survey report for his or her own benefit or that of a third party.
6. Have been sentenced to punishment for embezzlement, fraud, breach of trust, or forgery.
7. Operate insurance business outside the scope specified on his or her practice license.
8. Authorize a third party to operate or practice business on his/her/its behalf, or conduct business in other’s name.
9. Fail to surrender or cancel practice license within the time limit set out in Article 13, paragraph 1 or Article 17, paragraph 2 or paragraph 6.
10. Suspend, resume or dissolve business at own discretion.
11. In the case of a surveyor company, fail to employ another surveyor to serve as a signatory in accordance with Article 8, paragraph 2 when an employed surveyor leaves work.
12. Fail to report matters prescribed by the competent authority to the surveyors association for recordation.
13. Fail to submit business information and financial statements within the time period prescribed by the competent authority or the information submitted is untruthful or incomplete.
14. Otherwise violate these Regulations or other relevant acts or regulations.
Article 38
A surveyor who has not carried out registration of permission with the competent authority, deposited bond and purchased professional liability insurance, and granted a practice license in accordance with these Regulations may not operate or practice the insurance surveyor business; the same applies where the practice license of the surveyor has been cancelled or revoked by the competent authority.