crashbandicoot3pc| State Financial Supervision Administration: Cancel the number limit on cooperation between bank outlets and insurance companies

On May 9, the State Administration of Financial Supervision issued the Circular on matters related to the Insurance Business of Commercial Banks (hereinafter referred to as "the notice").

Picture sourceCrashbandicoot3pcThe State Administration of Financial Supervision

The "notice" mainly has the following contents: first, to abolish the limit on the number of cooperation between bank outlets and insurance companies. It is clear that commercial banks act as agents for Internet insurance business, telemarketing insurance business and other insurance business, and branches and outlets at all levels do not limit the number of cooperative insurance companies. The second is to clarify the level of cooperation between the two sides. If insurance companies are required to cooperate with commercial banks, in principle, a written principal-agent agreement shall be signed by the legal entities of both parties. If it is really necessary for the first-level branch to sign a principal-agent agreement, the first-level branch shall obtain the written authorization of its legal person in advance. The third is to clarify the commission standard of bank agency business. It is required that the commission rate stipulated in the principal-agent agreement shall not exceed the commission level for the product filing of the legal entity of the insurance company.

The implementation of the notice will help give better play to the advantages of commercial banks and insurance companies, promote long-term and in-depth cooperation between the two sides, and explore new paths for transformation and development.Crashbandicoot3pcIt helps to broaden the scope of cooperation between commercial banks and insurance companies, enhance the value of bank agency insurance business and consumer satisfaction, enrich bank insurance products and services, and better meet the diversified and multi-level protection needs of consumers. effectively safeguard the rights and interests of consumers.