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Chapter Law Content

Title: Regulations Governing Insurance Brokers CH
Category: Financial Supervisory Commission(金融監督管理委員會)
Chapter 1 General Provisions
Article 1
These Regulations are adopted pursuant to paragraph 4 and 8 of Article 163 of the Insurance Act.
Article 2
The term “insurance broker” (hereinafter, "broker") as used in these Regulations means “broker” as defined in Article 9 of the Insurance Act.
The term "independent broker" as used in these Regulations means a person who practices insurance broker business in his or her own name.
The term "broker company" as used in these Regulations means a company operating insurance broker business in the capacity of a corporate organization.
The term “bank” as used in these Regulations means a bank operating concurrently insurance broker business with approval of the competent authority.
Article 3
A broker who has not obtained a practice license in accordance with these Regulations shall not operate or practice.
Article 4
Brokers are divided into non-life insurance brokers and personal insurance brokers.