Circular of the China Insurance Regulatory Commission on Strengthening the Administration of Agricultural Insurance Business Operation Qualification

Circular of the China Insurance Regulatory Commission on Strengthening the Administration of Agricultural Insurance Business Operation Qualification

Bao Jian Fa [2013] No. 26

April 7, 2013

To all insurance regulatory bureaus and property insurance companies:

For the purpose of strengthening the administration of agricultural insurance business operation qualification, issues concerned are notified hereby as follows in accordance with relevant provisions specified in the Insurance Law of the People's Republic of China and the Regulations on Agricultural Insurance:

I. To operate agricultural insurance business, any insurance company shall acquire approval from the China Insurance Regulatory Commission (CIRC). No company may operate agricultural insurance business without approval.

II. For applying for agricultural insurance business operation qualification, the application shall be filed with CIRC by the headquarters of the insurance company.
When presenting application, the insurance company shall state the province (autonomous region or municipality directly under the Central Government) where it intends to open the business.

III. For applying for agricultural insurance business operation qualification, the insurance company shall meet the following conditions:
1. Its business scope ratified by CIRC includes agricultural insurance business;
2.
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