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Notice by the China Banking and Insurance Regulatory Commission of Issuing the Actuarial Provisions on Model Commercial Auto Insurance [Effective]
中国银保监会关于印发示范型商车险精算规定的通知 [现行有效]
【法宝引证码】

Notice by the China Banking and Insurance Regulatory Commission of Issuing the Actuarial Provisions on Model Commercial Auto Insurance 

中国银保监会关于印发示范型商车险精算规定的通知

(No. 42 [2020] of the China Banking and Insurance Regulatory Commission) (银保监发〔2020〕42号)

All local offices of the China Banking and Insurance Regulatory Commission and all property insurance companies: 各银保监局,各财产保险公司:
For the purposes of improving the actuarial rules for auto insurance, preventing irrational competition, and promoting the high-quality development of auto insurance, the China Banking and Insurance Regulatory Commission has developed the Actuarial Provisions on Model Commercial Auto Insurance, which are hereby issued to you for your compliance and implementation. 为完善车险精算制度,防范非理性竞争行为,推动车险高质量发展,银保监会制定了《示范型商车险精算规定》,现印发给你们,请遵照执行。
China Banking and Insurance Regulatory Commission 中国银保监会
September 9, 2020 2020年9月9日
Annex: 附件:
Actuarial Provisions on Model Commercial Auto Insurance 示范型商车险精算规定
Part I Scope of Application 

第一部分 适用范围

1. These Provisions shall apply to auto insurance products subject to the model clauses on commercial auto insurance of the Insurance Association of China (hereinafter referred to as the “commercial auto insurance”).   一、本规定适用于使用中国保险行业协会机动车商业保险示范条款的车险产品(以下简称商车险)。
Part II Composition of Insurance Premiums 

第二部分 保费构成

2. When determining commercial auto insurance premiums, an insurance company shall conform to the non-life insurance actuarial principle and strictly follow the principles of reasonableness, fairness and sufficiency, and there shall be no factor that may lead to unfair competition or discriminatory pricing.   二、保险公司厘定商车险保费,应当符合非寿险精算原理,严格遵循合理、公平、充足的原则,不得有导致不正当竞争或歧视性定价的因素。
3. The standard formula for determining commercial auto insurance premiums is: insurance premiums = benchmark insurance premiums × rate adjustment coefficient, among which, benchmark insurance premiums = benchmark pure risk insurance premiums/target loss ratio, target loss ratio = 1 - additional expense ratio, rate adjustment coefficient = independent pricing coefficient × no claim discount coefficient × traffic violation coefficient.   三、商车险保费厘定标准公式为:保费=基准保费×费率调整系数。其中,基准保费=基准纯风险保费/目标赔付率,目标赔付率=1-附加费用率,费率调整系数=自主定价系数×无赔款优待系数×交通违法系数。
4. Industry benchmarks shall be adopted for benchmark pure risk premiums, no claim discount coefficient and traffic violation coefficient. The determination of additional expense ratio, the upper limit of commission fee rate of each insurance policy, and the range of independent pricing coefficient shall comply with the relevant requirements of regulators.   四、基准纯风险保费、无赔款优待系数、交通违法系数应使用行业基准。附加费用率预定、逐单手续费率上限、 自主定价系数范围遵照监管机构相关要求执行。
5. An insurance company shall reasonably determine the independent pricing coefficient, additional expense ratio and commission fee rate, among others, under the principle of matching insurance rates with the risks of subject matters and operating cost, and conduct profit testing on its products.   五、保险公司应按照保险费率与标的风险、经营成本相匹配的原则,合理确定自主定价系数、附加费用率及手续费率等,并对产品进行利润测试。
Part III Retracing Premium Rates and Correcting Product Deviation 

第三部分 费率回溯和产品纠偏

6. An insurance company shall establish a mechanism for retracing premium rates and correcting product deviation, dynamically monitor and analyze the deviation between the actuarial assumptions of premium rates and actual operations of the company, adjust commercial auto insurance rates in a timely manner, and undergo recordation formalities at the regulator again.   六、保险公司应建立费率回溯和产品纠偏机制,动态监测、分析费率精算假设与公司实际经营情况的偏离度,及时对商车险费率进行调整,并重新向监管机构备案。
7. In order to prevent the frequent adjustments to clauses and premium rates from damaging the rights and interests of insurance consumers and disrupting the market order, except for such reasons as that the regulator orders an insurance company to undergo recordation formalities regarding the product again or the major deviation between the actuarial assumption and the actual operation of the insurance company, an insurance company may adjust commercial auto insurance clauses and rates not more than once every three months.   七、为杜绝频繁调整条款费率损害保险消费者权益,扰乱市场秩序,除监管机构责令保险公司重新备案产品或保险公司精算假设与经营实际发生重大偏差等原因外,保险公司调整商车险条款费率的频率不高于3个月一次。
Part IV Assessment of Premium Deficiency Reserves 

第四部分 保费不足准备金的评估

8. An insurance company shall further improve the process for testing the premium adequacy of commercial auto insurance and, based on the industrial benchmark pure risk insurance premiums published by the China Association of Actuaries, test the premium adequacy of each unexpired insurance policy at the end of each quarter and assess premium deficiency reserves as required. Insurance companies' premium deficiency reserve (PDR) for commercial auto insurance shall not be less than the amount calculated under the following calculation standards:
......
   八、保险公司应进一步完善商车险的保费充足性测试流程,以中国精算师协会发布的行业基准纯风险保费为基础,在每季度末对所有未满期保单逐单测试保费充足性,并按照规定评估保费不足准备金。保险公司商车险保费不足准备金(PDR)不得低于以下计算标准下的金额:
......

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