Chapter 3 Evaluation of system
Section 2 Self-evaluation and Statement on Internal Controls
Insurance agent companies, insurance broker companies or banks shall establish a self-evaluation system, and shall conduct self-evaluation at least annually and a special self-evaluation as deemed necessary.
When a unit of the company conducts self-evaluation mentioned in the preceding paragraph, the unit chief shall assign personnel other than the original handling staff to carry out the evaluation and keep the evaluation activity confidential beforehand.
The self-evaluation report and its working papers shall be preserved for at least five (5) years.
Insurance agent companies, insurance broker companies or banks shall establish a self-evaluation training program to provide self-evaluation personnel with proper training on a continual basis.
The general manager of insurance agent companies and insurance broker companies shall oversee that each unit carefully evaluates and reviews the implementation of internal control system. The company’s chairman of the board (council chairman), general manager and relevant officers shall jointly sign a statement on internal controls (the attached Form), which shall be submitted to the board of directors (council) for approval and filed in a manner designated by the competent authority before the end of April each year.
A bank shall include its insurance agent or broker business in its statement on internal control in accordance with Article 27 of the “Implementation Rules of Internal Audit and Internal Control System of Financial HoldingCompanies and Banking Industries”.