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The sale of insurance products by Chunghwa Post, unless otherwise specified by ... Persons who have been denied services at a bank for bouncing checks or ... PrintTime：2022/04/2322:31 ::: Location： Home Law ArticleContent P Print SelectFolders： Save Save AddNewFolder ManageFolders ArticleContent Title： RegulationsGoverningPostalSimpleLifeInsuranceOperations CH AmendedDate： 2021-10-28 Category： MinistryofTransportationandCommunications（交通部） ArticleContent Chapter ArticleNoSearch ContentSearch LegislativeHistory ChapterOneGeneralPrinciples Article1TheregulationshereofarebeingestablishedasmandatedbyArticle31oftheSimpleLifeInsuranceAct(hereinaftercalledthisAct). Article2InsuranceproductsasmentionedintheregulationshereofrefertoproductsofferedbyChunghwaPostCo.,Ltd.(hereinaftercalledChunghwaPost)asmandatedinArticle4ofthisAct,includinginsuranceclauses,applications,premiumsandrelatedinformationspecifiedbytheFinancialSupervisoryCommission（FSC）. Article3ThesaleofinsuranceproductsbyChunghwaPost,unlessotherwisespecifiedbytheInsuranceActorunlessaproducthasacquiredspecialapprovalfromtheMinistryofTransportationandCommunications(MOTC)andFSC,shallcomplywiththeregulationshereof. ChapterTwoProcedurebeforethesaleofanInsuranceProduct Article4Theprocedurebeforeaninsuranceproductisputonthemarketisasfollows:1.Design:theresearchanddevelopmentofaninsuranceproductpriortosubmissionforreview.2.Review:thedesignoftheproductissubmittedtotheMOTCforreviewand,ifandwhenitisapproved,passedontotheFSCforreview.3.Preparationforsale:theprocedureafterthereviewandbeforethecommencementofthesaleoftheproduct. Article5Thedesignprocedureforaninsuranceproductshallincludethefollowing:1.Researchanddevelopment.2.Formaldevelopment:includingdraftingitsclausesanditspremiumratesprospectus.3.Preparingthesubmissionforreview.ThedesignprocedureasmentionedintheprecedingparagraphshallbesubmittedtotheMOTCforapprovalbeforebeingpassedontotheFSCforreference;thesameshallapplytoanyamendments. Article6PriortosubmittinganinsuranceproducttotheMOTCforapproval,whichwillthenbepassedontotheFSCforreview,theproductshallbereviewedbyaninsuranceproductreviewpanel.Minutesshallbemadeofeachmeeting,andthepresidentofChunghwaPostshallreviewtheminutesbeforetheyaresubmittedtotheMOTCandtheFSCforreviewandapproval.EitherChunghwaPost’svicepresident(orequivalentlevelofposition)oradepartmentheadauthorizedbythevicepresidentshallserveasthechairpersonofthereviewpanelasmentionedintheprecedingparagraph,andresolutionsshallbemadebypanelmemberswhoarerelevantsignatoriesortheiragents. Article7Duringtheresearchanddevelopmentofaninsuranceproduct,ChunghwaPostshallpayattentiontothefollowing:1.Evaluatetheappropriatenessandlegalityoftheproduct.2.Evaluatethecompetitivenessoftherates.3.Evaluatethefeasibilityofitssystemadministration.4.Evaluateitspolicygoalsandestablishfeasiblecoursesofaction.Thereshallalsobeconcreteideasdetailingprofessionaldutyofcare,theprudentpersonrule,targetmarkets,andconsumersafeguardswithregardtothedesignoftheinsuranceproduct.5.Duringthedesignofaninsuranceproduct,nofalse,fraudulent,orexaggeratedclaimsabouttheperformanceoftheinsuranceindustrymaybemade,noranyothermisleadingbehaviorengagedin. Article8Whendraftingtheinsuranceclausesduringtheformaldevelopmentofaninsuranceproduct,ChunghwaPostshallpayattentiontothefollowing:1.Thattheclausesbedrawnupinaccordancewiththedesignoftheproduct.2.Thatthemeaningoftheclausesisclear.3.Thattheclausesareincompliancewithrelevantinsurancelaw.4.Thattherightsandobligationsoftheapplicants,theinsuredandthebeneficiariesareclearlysetforthinaccordancewiththeproductcharacteristicsaswellaswithallpastcomplaintsandarbitrationandlitigationcasesinvolvingin.5.Thatadjustmentsaremadetoensurelegalcompliancewhenintroducinganinsuranceproductbasedonaforeignproduct. Article9Whendraftingtheactuarialmemorandumduringaninsuranceproduct’sformaldevelopmentstage,ChunghwaPostshallfocusonthefollowing:1.Establishingclaimitemsandgatheringinformationforratemaking,aswellasconfirmingthatthesearerelatedtopremiumratemakingandthatthepremiumratesareadequate,reasonableandfair.Theratesshallreflectthecostofeachitemandreasonableprofits.ChunghwaPostshallnotsolicitorconductinsurancebusinessbyofferingunreasonableprices.2.Determiningagelimits,insuranceamountlimitsandtypesofpremiumpayments.3.Calculatingpremiums.4.Calculatingnecessaryreservesandsettingpoliciesformakingchangestoinsurancecontracts.5.Examiningtheproduct’spricingandassessingitsrisks.Whileexaminingtheproduct’spricingandassessingitsrisksasmentionedinsubparagraph5oftheprecedingparagraph,ChunghwaPostshallpayattentiontothefollowing:1.Examiningthereasonablenessofitsassumptions.2.Examiningthevariousprofitindicators(includinganalysisonproductprofits,assetshareorbreak-evenpoint).3.Examiningtheappropriatenessoftheriskassessmentresults(includingtheexaminationonallactuarialdataandthesensitivityanalysis).4.Examiningtheconsistencyofthepolicyclausesandtheactuarialmemorandum. Article10Beforefilinganinsuranceproductforreview,theproductshouldbesignedoffonbyChunghwaPost’presidentoradepartmentheadauthorizedbythepresidentaswellastherequirednumberofadditionalqualifiedsignatories.Thepresidentshallassumejointliabilityfortheactionsofthedepartmentheadhe/sheauthorizesandberesponsibleforsupervisingthesignatories.Onepersonmaynotserveconcurrentlyastwoormoresignatoriesasmentionedinparagraph1. Article11Thequalifiedsignatoriesasmentionedinparagraph1oftheprecedingarticlerefertopersonswiththefollowingqualificationswhoaredesignatedbyChunghwaPosttosignifyresponsibilitybysigningandthusfacilitatethefilingprocessesofitsinsuranceproducts:1.UnderwriterswhomeetthequalificationssetforthforunderwritersasstatedinArticle43.2.ClaimadjusterswhomeetthequalificationssetforthforclaimadjustersasstatedinArticle44.3.ActuarieswhomeetthequalificationssetforthforactuariesasstatedinArticle32.4.Legalstaffwhomeetoneofthefollowingfivesetsofqualifications:(1)AttorneysqualifiedtopracticeundertheAttorneyRegulationAct.(2)Thosewhohaveadegreefromadepartmentofinsuranceorlawatadomesticjuniorcollegeorhighereducationalinstitutionandfiveyearsexperiencesupervisinginsurancerelatedlegalaffairs.(3)Thosewhohavefiveyearsexperienceinchargeoflegalaffairsataninsurancecompany.(4)Thosewhohaveeightyearsexperienceworkinginalegaldepartmentofaninsurancecompany.(5)Educatorswhohavetaughtinsurancelawinaninsuranceorlawdepartmentofadomesticjuniorcollegeorhighereducationalinstitution.5.Investmentpersonnel:directorsofinvestment-relateddepartmentswhohavethreeyearsexperienceinfinancial,securities,orotherinvestmentfieldshereorabroad.6.Insuranceconservationpersonnel:directorsinchargeofthedepartmenthandlingamendmentstoinsurancecontractsorrelatedconservationmatterswhohavethreeyearsexperiencehandlingamendmentstolifeinsurancecontractsandotherrelatedconservationmattershereorabroad.Thedepartmentheadauthorizedbythepresidentasstatedinparagraph1oftheprecedingarticlemusthaveexperiencesupervisinginsuranceactuarialworkaswellasoneyearexperienceworkinginfinancial,securities,riskmanagement,orotherinvestment-relatedfieldshereorabroad. Article12Whensigningoffonaninsuranceproduct,thepresidentorthedepartmentheadauthorizedbythepresidentaswellasthequalifiedsignatoriesshallinspectcarefullythefactualaccuracy,reasonableness,andlegalityofthoseforwhichtheyareresponsible.Theyshallatleastberesponsibleforthefollowingitemsorareas:1.Thepresidentorthedepartmentheadauthorizedbythepresidentshallberesponsiblefor:(1)Descriptionofinsuranceanddeclaration.(2)DeclarationtotheFSC.(3)Thepolicyamendmentform.(4)Thecorrectnessoftheinsuranceproductself-reviewform.(5)Theapplicationform.(6)Thecompletenessofallmandatoryfilingcomponents.(7)Thecomplianceoftheinsuranceproducttoapplicableregulations.(8)Thatconsumersafeguardsarenotnegativelyimpacted.(9)Thattheproductisinsynchwiththecompany’sbusinessstrategiesanddoesnotposeapotentialthreattoitscurrentorfuturesolvency.(10)Theappropriatenessoftheproduct’sasset-liabilityallocation.2.Theunderwritersshallberesponsibleforthefollowing:(1)TheprovisionsanddeclarationspertainingtounderwritinglistedinthedeclarationtotheFSC.(2)Theprovisionspertainingtounderwritingintheinsurancepolicycomparisontable.(3)Theapplicationform.(4)Thepolicyamendmentform.3.Claimadjustersshallberesponsibleforthefollowing:(1)TheprovisionsanddeclarationspertainingtoclaimsadjustmentlistedinthedeclarationtotheFSC.(2)Theprovisionspertainingtoclaimsadjustmentintheinsurancepolicycomparisontable.(3)Theapplicationform.(4)Thepolicyamendmentform.4.Actuariesshallberesponsibleforthefollowing:(1)TheprovisionsanddeclarationspertainingtoactuarialworklistedinthedeclarationtotheFSC.(2)Theprovisionspertainingtoactuarialworkintheinsurancepolicycomparisontable.(3)Theapplicationform.(4)Thepolicyamendmentform.(5)Theactuarialmemorandumandrelatedstatements.(6)Thecontentoftheasset-liabilityallocationplan.(7)Theassessmentanddeclarationoftheactuaries.(8)TheRegulationsGoverningtheFinancialAspectsofParticipatingLifeInsurancePolicies,theRegulationsGoverningExpenseApportionmentandIncomeDistributionofParticipatingandNon-ParticipatingLifeInsurancePolicies,andtheRegulationsGoverningtheDistributionofDividends.(9)Astatementofhowthecompanyshallrespondintheeventthatinterestratesfailtoreachacertainlevel.(10)Astatementjustifyingthepricing.(11)Anassessmentontheproduct’soperationalrisksandrisktolerance.5.Insuranceconservationpersonnelshallberesponsibleforthefollowing:(1)TheprovisionsanddeclarationspertainingtoinsuranceconservationlistedinthedeclarationtotheFSC.(2)Theprovisionspertainingtoinsuranceconservationintheinsurancepolicycomparisontable.(3)Theapplicationform.(4)Thepolicyamendmentform.6.Legalstaffshallberesponsibleforthefollowing:(1)TheprovisionsanddeclarationspertainingtolegalaffairslistedinthedeclarationtotheFSC.(2)Theprovisionspertainingtolegalaffairsintheinsurancepolicycomparisontable.(3)Theapplicationform.(4)Thepolicyamendmentform.7.Investmentpersonnel:(1)TheprovisionsanddeclarationspertainingtoinvestmentlistedinthedeclarationtotheFSC.(2)Theprovisionspertainingtoinvestmentintheinsurancepolicycomparisontable.(3)Theapplicationform.(4)Thepolicyamendmentform.(5)Thecontentoftheasset-liabilityallocationplan.(6)Thestatementofinvestmenttargets.(7)Astatementofhowthecompanyshallrespondinthecasethatinterestratesfailtoreachacertainlevel.(8)Therelationshipbetweentheproduct’sassetallocationplanandassumedinterestrate.(9)Anassessmentoftheproduct’sinvestmentrisksandrisktolerance. Article13Theinsuranceproductsignatoriesshallattendatleast15hoursofinsurancerelatedprofessionaltrainingofferedbyaninstitutedesignatedorrecognizedbytheFSCeachyear.TheinsuranceproductsignatorieswhofailtocompletetherequiredhoursofprofessionaltrainingasmentionedintheprecedingparagraphbytheendoftheyearmaynotsignoffoninsuranceproductsforChunghwaPostduringthefollowingyear.TheinstitutedesignatedbytheFSCasmentionedinthefirstparagraphshallsubmititscoursecontentandassessmentstandardstotheFSCforapprovalandreferenceeachyear. Article14Anygiveninsuranceproductshallcompleteitsreviewprocedureinoneofthefollowingmanners,unlessotherwisespecifiedbytheFSC:1.Reviewandapproval:insuranceproductsshallbesubmittedbyChunghwaPosttotheMOTCforapprovalbeforebeingpassedontotheFSCforapproval.ForinsuranceproductsrequiringapprovalfromtheFSC,theapprovalshallbeobtainedpriortothesale.2.Submissionofpaperworkforreference:insuranceproductsrequiringnoapprovalfromtheMOTCandsubsequentlytheFSCmaygoonsaledirectly.However,ChunghwaPostmustsubmitinformationrequiredtotheMOTC,FSCoradesignatedorganizationforreferencewithin15workingdaysofthecommencementofsales.RegardingtheinsuranceproductsreferredtoinSubparagraph1oftheprecedingparagraph,theFSCshallmakeareplywithin40workingdaysstartingfromthedaywhentheapplicationandallrelevantdocumentsarereceivedandissueareviewresultwithin75workingdays.IftheinsuranceproductssubmittedbyChunghwaPost,whicharereferredtoinSubparagraph1ofParagraph1,failtoobtainapprovalbytheFSCandaresubmittedagainforapprovalwithin30daysfromthedateofdenial,theFSCshallmakeareplywithin25workingdaysstartingfromthedaywhentheapplicationandallrelevantdocumentsarereceivedandissueareviewresultwithin45workingdays.Insuchcases,theprovisionsoftheprecedingparagraphshallnotbeapplicable.UnlessotherwiseagreeduponbytheFSC,allinsuranceproductsofferedbyChunghwaPostshallhavepaperworksubmittedforreviewandapproval. Article15Whenfilinganinsuranceproductforreview,ChunghwaPostshalldosoinaccordancewiththefollowing:applicableactsandregulations;directionsforinsuranceproductreviewasadoptedbytheFSC;andpracticeprinciples,self-regulatoryrulesorcodesofprofessionalconductadoptedbydomesticprofessionalsocieties(associations)orotherrelevantentitiesdesignatedorcommissionedbytheFSC.ChunghwaPostshallsubmitthenecessarydocuments(bothhardanddigitalcopies)asrequiredbytheFSCoranyFSC-designatedinstitutiontotheFSCorthedesignatedinstitutionforreviewandforestablishinganinsuranceproductdatabase.ThehardanddigitalcopiesmentionedintheprecedingparagraphshallbeprescribedbytheFSC.AfteraninsuranceproducthasbeenapprovedandrecordedbytheFSC,theFSCmaydiscloserelevantinformationtothepublic.Suchinformationshallcontainatleastthefollowing:1.Insuranceproductdescriptions.2.Policyclauses.3.Applicationforms.4.Ratecharts(explanationsofthepremiumsshallbeprovidedintheabsenceofratecharts).ThisdoesnotapplytoproductsthathavesecuredtheFSC’sapproval.5.Arosterthatincludesthepresidentoradepartmentheadauthorizedbythepresidentaswellastherequirednumberofqualifiedsignatories.6.OtherinformationprescribedbytheFSC. Article16TheMOTCortheFSCmayreturnChunghwaPost’sinsuranceproductfilingwithoutreviewororderChunghwaPosttosuspendsaleunderanyofthefollowingsituations(exceptforcircumstancesspecifiedinSubparagraphs8andsubparagraphs10to12hereof),andmakeapublicannouncementofthesame.:1.Thecontentisnotcompliantwithapplicablelegalrequirementsinamaterialmanner.2.Theproducthasnotbeensignedoffonbythepresident,adepartmentheadauthorizedbythepresidentortherequirednumbersofqualifiedsignatories.3.Thefilingcontainsamajorerrorormissesanimportantfilingcomponent.4.Thefilingcontainsfalseinformation.5.Afalseormateriallyerroneousstatementismadebythepresident,adepartmentheadauthorizedbythepresident,oranyofthesignatories.6.SaleshavecommencedwithoutobservingtheprovisionsofArticle14,paragraph1orArticle18.7.Thecompanyfailstofollowcorrectfilingprocedures.8.ThecompanyfailstosubmitallmandatoryfilingcomponentsassetforthinArticle15,paragraph2,orsomeofthesecomponentsareincomplete,andadditionsorrevisionsarenotmadewithinaprescribedtimeperiod.9.ThecompanyfailsinamaterialmannertoobservetheprovisionsofArticle6,Subparagraph1ofParagraph1ofArticle9,Article19,Article21,orArticle22.10.IntheeventthatinsuranceproductsaresubmittedtotheMOTCforapprovalbeforebeingpassedontotheFSCforreviewandapprovalinaccordancewithSubparagraph1ofParagraph1ofArticle14andtheFSCasksinwritingforrevisionsoradditionswhicharenotforthcomingwithin65workingdaysstartingfromthedaythatthesubmissionpackageisreceivedbytheFSC.11.RevisionsoradditionsarerequestedbytheFSCforinsuranceproductssubmittedinaccordancewithArticle14,paragraph3,butnotcompletedwithin35workingdaysstartingfromthedaythatthesubmissionpackageisreceivedbytheFSC.12.AninsuranceproductsubmittedforreviewandapprovalinaccordancewithParagraph2or3ofArticle14,hasbeenrejectedforatotalofthreetimes.Wherethesituationsetoutinsubparagraph6oftheprecedingparagraphapplieswithrespecttoaninsuranceproduct,theFSCmayimposepunishmentsinaccordancewithArticle37herein.IntheeventofthesituationsetoutinSubparagraph7ofParagraph1foraninsuranceproduct,iftheFSChasdeterminedthattheviolationisminor,itmayorderChunghwaPosttosubmittheproductunderadifferentreviewprocedure,andmayorderasalessuspensionoftheinsuranceproductinquestionuntilthecompanyhascompletedresubmissionprocedures. Article17ChunghwaPostshallsubmititsinsuranceproductfilingtotheFSCforapprovalwithinthelimitsthattheFSCsetsforth.IntheeventthatafilingasmentionedintheprecedingparagraphisstillunderreviewbytheFSCortheFSChasrequestedChunghwaPosttomakeadditionsorrevisionstoafiling,andthetotalnumberofsuchproductshasexceededthelimitsetbytheFSC,thefilingwillbereturnedwithoutreviewbytheFSC. Article18Intheeventthatanapprovedinsuranceproducthasmadechangestoitspolicyclauses,applicationforms,actuarialmemorandumsorpricing,suchchangesshallbesubjecttotheproceduresforSubmissionofpaperworkforreferencesetoutintheseRegulationsunlesstheFSCdeterminesthatthechangesaresignificant,inwhichcasetheprovisionsofSubparagraph1ofParagraph1ofArticle14shallgovern.TheprecedingparagraphdoesnotapplyunlessotherwisespecifiedbytheFSC. Article19Beforeaninsuranceproductisputonthemarket,ChunghwaPostshallcallaproductmanagementpanelmeetingtoreviewthefollowing:1.Disclosureofproductinformation.2.Verificationofactuarialdataandputtingthemonline.3.Riskmanagementmechanismandarrangementofreinsurance.4.Settingupandtestingofinformationsystem.5.Theprintingofsuchdocumentsaspolicyclauses,applicationforms,ratechartsandbrochures.6.Educationaltraining.Minutesofthemeetingsthatincludetheresultsofthereviewsasmentionedintheprecedingparagraphshallbekeptforfuturereference.ThepresidentofChunghwaPostshallreviewtheseminutesbeforetheyaresubmittedtotheMOTCandtheFSCforreviewandapproval.ChunghwaPost’svicepresident(orequivalentlevelofposition)oradepartmentheadauthorizedbythevicepresidentshallserveasthechairpersonoftheproductmanagementpanelasmentionedinthefirstparagraph. Article20Afteraninsuranceproducthasbeenputonthemarket,ChunghwaPostshallconveneaninsuranceproductmanagementmeetingatleastonceeverysixmonthstoreviewthefollowingproduct-relatedmatters,takerespondingmeasuresandmakenecessaryadjustments:1.Itscompliancewithapplicablelawsandregulations.2.Itsconsumerprotectionmeasures.3.Itsbusinessstrategiesregardingtheinsuranceproductandthepotentialimpactsoftheproductonitscurrentorfuturesolvency.4.Theappropriatenessoftheproduct’sasset-liabilityallocation.Forlifeinsuranceproductswithinsuranceperiodexceedingoneyear,implementationofassetallocationschemeshallbeincluded.5.Analysisofthepricingreasonablenessofinsuranceproductsshallincludetheadequacyofthepremium(loadingrate).6.Analysisoftheconcentrationriskofvarioustypesofinsuranceproducts7.ThedeviationsasconsideredbytheFSCtobesignificantbetweentheactuarialassumptionforreview(includingthelapserateandthenewmoneyrate)andtheactualafter-saleexperienceinrespectofthemajorlifeinsuranceproducts.Incaseofanynecessaryadjustmentormodificationtotheresultofthereviewsaidineachsubparagraphoftheprecedingparagraph,thecontentthereofshallbeapprovedbythepresidentandsubmittedtotheupcomingmeetingoftheboardofdirectors. Article21Whereitisnecessarytomakechangestoaninsuranceproductinordertocomplywiththerevisionstoapplicablelawsorregulations,ChunghwaPostshall,unlessotherwisestipulatedbytheselawsorregulations,makethenecessarychangesandfileamemorandumtotheinsuranceproductdatabaseestablishedbytheFSCoraninstitutionitcommissionswithin45workingdaysfromthedatetherevisionstothelawsorregulationsbecomeeffective.Article18hereindoesnotapply. Article22Whenaskedtoattend(orobserve)aninsuranceproductscreeningmeetingconvenedbytheFSCoraprofessionalinstitutionitcommissions,ChunghwaPostshallsendatleastoneexecutivewithathoroughunderstandingoftheproducttoattend(orobserve)themeeting.Beforeattendingthemeeting,thecompany’srepresentativesshallcarefullyreadthemeetingmaterials.Afterthemeeting,theserepresentativesshallsubmitawrittenreportdetailingallthematerialcontroversiesandthemainconclusionsofthemeetingtotheinsuranceproductreviewpanelaswellasacopytothepresidentforreview. Article23IntheeventChunghwaPosterrsinoneofthefollowingways,theFSCmay,dependingontheseriousnessoftheoffense,prohibitChunghwaPostfromfilingforapprovalorsubmissionofpaperworkforreferenceforaninsuranceproductinaccordancewithParagraph1ofArticle14hereinwithinoneyear,andapublicannouncementaboutthemattershallbemade.ThisarticledoesnotapplytoinsuranceproductsthatarebeingamendedinordertocomplywiththechangesinapplicablelawsorregulationsorwhenpriorapprovalhasbeengrantedbytheFSC.1.ChunghwaPostfailstosuspenditssalesofaninsuranceproductwhenitisorderedbytheFSCtodoso.2.AsignatorycontinuestosignoffforChunghwapostafterbeingdisqualifiedbytheFSC.3.Fourtimesormorewithinthepastyear,theFSChasconfirmedtheoccurrenceofacircumstancesetoutinthesubparagraphsunderParagraph1ofArticle16.However,aminorviolationstatesinSubparagraph7ofParagraph1ofArticle16,whentheFSChasdealtwiththematterinaccordancewithParagraph3ofArticle16,isnotsubjecttothelimits.4.Withinthepastyear,theFSChasassessedacumulativetotalof15ormoreviolationpointsforinsuranceproductsthatChunghwaPost’ssignatorieshavesignedoffoninbehalfofChunghwaPost. Article24WhereanyoneofthefollowingsituationsapplieswithrespecttoanitemforwhichasignatorybearsresponsibilityasmentionedinArticle12,theFSCmay,dependingontheseriousnessoftheoffense,assessfromonetothreeviolationpointsanddisclosesametotheinsuranceindustryforaperiodofthreeyears:1.Thecontentonwhichasignatoryhassignedoffonisnotcompliantwithapplicablelawsinamaterialmanner.2.Therearemajordiscrepanciesbetweenthecontentorformatofwhatwassubmittedandthefilingrequirements.3.Thecontentcontainsamajorerrorormissesanimportantfilingcomponent.4.Thefilingcontainsfalseinformation.5.Thefilingcontainsafalseorwrongstatement.6.ThecontentonwhichasignatoryhassignedoffonisinmaterialviolationofdirectionsforinsuranceproductreviewadoptedbytheFSC.7.Thecontentfailstomeetthepracticeprinciplesandself-regulatoryrulesorcodesofprofessionalconductinamaterialmannerbydomesticprofessionalsocieties(associations)orotherrelevantentitiesdesignatedorcommissionedbytheFSC.Wheretherearealargenumberoferrorsorcleardefectswithinaprescribedtimeperiodinthecontentssignedoffonbyaninsuranceproductsignatory,theFSCmay,dependingontheseverityofthecircumstances,assessfromonetothreeviolationpointsanddisclosesametotheinsuranceindustryforaperiodofthreeyears.IfaninsuranceproductsignatoryhasbeenassessedacumulativetotalofthreeviolationpointsbytheFSCwithinthepastthreeyears,theFSCmayprohibitthesignatoryfromsigningoffoninsuranceproductsforsixmonthsandmakepublicannouncementofthesame.Whereadomesticprofessionalsociety(association)designatedorauthorizedbytheFSC,oranotherrelevantentity,towhichthesignatorybelongs,hassuspendedorrestrictedthesignatory’smembershipstatusduetothesituationsetoutinSubparagraph7ofParagraph1,theFSCmay,dependingontheseverityofthecircumstances,prohibitthesignatoryforaperiodofoneyearorlessfromsigningoffoninsuranceproducts.Apublicannouncementofthesameshallbemade. ChapterThreeTheQualificationsofthePersonsResponsible Article25ThepersonsresponsibleforthesimplelifeinsuranceoperationsofChunghwaPostasmentionedintheregulationshereofincludethefollowing:1.BoardmembersandcorporatesupervisorsofChunghwaPost.2.PresidentofChunghwaPost.3.Thechiefauditor,thevicepresidentanddirectorssupervisingsimplelifeinsuranceanditsfinancialmatters(orequivalentlevelofposition).4.DirectorsofChunghwaPost’sSimpleLifeInsurance,directorofDepartmentofCapitalOperationsanddirectorofDepartmentofPropertyOperations5.ManagersofpostofficebranchesofalllevelsatChunghwaPost. Article26TheresponsiblepersonforsimplelifeinsurancebusinessofChunghwaPostmusthavegoodmoralcharacterandmustnotbeinanyofthefollowingsituations.Aresponsiblepersonhavingtakenofficetowhomanyofthefollowingdescriptionsappliesshallbedismissed:1.Legallyincompetentpersonsorlegallyquasi-incompetentpersons.2.PersonswhohavebeenconvictedofbreakingtheOrganizedCrimePreventionAct.3.Personsconvictedofcounterfeitingcurrency,counterfeitingvaluablesecurities,embezzlement,fraudorbreachoftrustandsentencedtoimprisonmentwhoareeitherexecutionofthesentencehasnotstartedserving,stillinprisonorwerereleasedfromprison,onprobationorpardonedwithinthelast10years.4.Personsfoundguiltyofforgery,invasionofprivacy,usury,preventingpeoplefromcollectingdebtsowedthem,orbreakingprovisionsintheTaxAct,CommercialLabelAct,theCopyrightActorotheractsorregulationsgoverningindustryandcommerceandsentencedtoimprisonmentwhoareeitherexecutionofthesentencehasnotstartedserving,stillinprisonorwhowerereleasedfromprison,onprobationorpardonedwithinthelast5years.5.Personsconvictedofcorruptionandsentencedtoimprisonmentwhoareeitherexecutionofthesentencehasnotstartedserving,stillinprisonorwhowerereleasedfromprison,onprobationorpardonedwithinthelast5years.6.PersonsconvictedofbreakingprovisionsofthisAct,InsuranceAct,BankingAct,FinancialHoldingCompanyAct,TrustEnterpriseAct,theActGoverningBillsFinanceBusiness,FinancialAssetSecuritizationAct,RealEstateSecuritizationAct,SecuritiesTransactionAct,FuturesTradingAct,SecuritiesInvestmentTrustandConsultingAct,ForeignExchangeManagementAct,CreditCooperativeAct,theAgriculturalFinanceAct,theFarmersAssociationAct,theFishermen’sAssociationAct,MoneyLaunderingControlAct,PostalActorotherfinancialregulationswhoweresentencedtoimprisonmentandareeitherexecutionofthesentencehasnotstartedserving,stillinprisonorwerereleasedfromprison,onprobationorpardonedwithinthelast5years.7.Personswhohavedeclaredbankruptcyandhavenotyetrestoredtherightstheylost.8.Personswhohaveservedastheperson-in-chargeofajuridicalperson(corporation)atthetimeitdeclaredbankruptcyifthebankruptcywasfinalizedwithinthelast5yearsorthejuridicalpersondidnotfulfillthepromisesmadeduringbankruptcynegotiations.9.Personswhohavebeendeniedservicesatabankforbouncingchecksormisusingothernegotiableinstruments,orpersonsforwhomsaidserviceswererestoredbutareonrecordforbouncingchecksduetoinsufficientfundswithinthreeyearsaftertherestorationofsaidservices.10.Personswhohavesufferedorareresponsibleforamajorlossofcreditstanding,whetherresolvedornot,withinthelast5years.11.InviolationofthisAct,InsuranceAct,BankingAct,FinancialHoldingCompanyAct,TrustEnterpriseAct,theActGoverningBillsFinanceBusiness,FinancialAssetSecuritizationAct,RealEstateSecuritizationAct,SecuritiesTransactionAct,FuturesTradingAct,SecuritiesInvestmentTrustandConsultingAct,ForeignExchangeManagementAct,CreditCooperativeAct,theAgriculturalFinanceAct,theFarmersAssociationAct,theFishermen’sAssociationAct,PostalRemittancesandSavingsActorotherfinancialregulationsandhavebeenorderedtobereplacedordismissedbytheFSCwithinthelast5years.12.Personswhohavebeenforcedlaboronaccountoflarcenyorstolenpropertywhoarestillservingtheirsentencesorwhohavebeenreleasedwithinthelast5years.13.Personswhoserveastheperson-in-chargeofotherinsurancecompanies,financialholdingcompanies,banks,trustandinvestmentcompanies,creditcooperatives,thecreditdepartmentsoffarmers’associationsorfishermen’sassociations,billsfinancecorporations,brokerages,securitiesandfinancefirms,securitiesinvestmenttrustcompanies,investmentconsultingcompaniesorfuturesbrokerages.However,ifChunghuaPosthasaninvestmentstakeinthesecompanies,aChunghuaPostchairpersonorseniorexecutivemaynotserveinthesamecapacitybutmay,withtheapprovaloftheMOTCandtheFSC,serveasaboardmemberorcorporatesupervisorofabankortheperson-in-chargeofotherinstitutions.14.Personsthatevidenceshowshaveengagedinorbeeninvolvedinotherdishonestorimproperactivitiesandaredemonstratingunsuitabilitytoserveasaresponsiblepersonofsimplelifeinsurancebusiness. Article27ChunghwaPost’schiefauditor,vicepresidentanddirectorssupervisingthesimplelifeinsurancebusinessanditsfinancialmatters(orequivalentlevelofposition),aswellasthedirectoroftheLifeInsurancedepartment,thedirectoroftheCapitalOperationsdepartment,DirectorofDepartmentofPropertyOperationsdepartmentandthemanagersofthespecialsupervisorypostoffices,musthavegoodmoralcharacterandpossessoneofthefollowingqualifications:1.Adegreefromadomesticoroverseasjuniorcollegeorhigher-leveleducationalinstitution,oranequivalencydiplomaofthatlevel,orapassingmarkonthesenior-levelcivilserviceexamorequivalentexam;12yearsexperienceworkinginpostaladministrationwithagoodjobrecord;completionofcourseworkininsuranceandauditing,withacombinedtotalofatleast40hoursofclassroomtime,forwhichcertificatesfromaprofessionaltrainingfacilityrecognizedbytheMOTCandFSCareobtained.2.Adegreefromadomesticoroverseasjuniorcollegeorhigher-leveleducationalinstitution,oranequivalencydiplomaofthatlevel;5yearsexperienceworkingininsurancecompaniesand3yearsexperienceworkingatthelevelofassistantmanageroraboveorasimilarpositionintheheadquartersofaninsurancecompanywithagoodjobrecord. Article28Managersoffirst-gradeandsecond-gradesupervisoryregionalpostofficesofChunghwaPostmusthavegoodmoralcharacterandpossessoneofthefollowingqualifications:1.Adegreefromadomesticoroverseasjuniorcollegeorhigher-leveleducationalinstitution,oranequivalencydiplomaofthatlevel,orapassingmarkonthesenior-levelcivilserviceexamorequivalentexam;8yearsofexperienceworkinginpostaladministrationwithagoodjobrecord;completionofcourseworkininsuranceandauditing,withacombinedtotalofatleast30hoursofclassroomtimeandgraduationcertificatesfromaprofessionaltrainingfacilityrecognizedbytheMOTCandFSC.2.Adegreefromadomesticoroverseasjuniorcollegeorhigher-leveleducationalinstitution,oranequivalencydiplomaofthatlevel;3yearsexperienceworkingininsurancecompaniesand2yearsexperienceworkingasanjuniormanageroraboveorhavingasimilarpositionintheheadquartersofaninsurancecompanywithagoodjobrecord. Article29ChunghwaPostshallsubmitareportforreferencetotheMOTCandFSCofthepersonsfillingpostofchiefauditorwithin10daysfromthedateonwhichthepostisfilled.Ifapersonfillingapostisnotqualifiedasmandatedintheregulationshereof,thatpersonshallbedismissed. Article30TheboardmembersofChunghwaPost(includingachairperson)shallhavegoodmoralsandshallmeetoneofthefollowingfoursetsofqualifications:1.Adegreefromadomesticoroverseasjuniorcollegeorhigher-leveleducationalinstitution,oranequivalencydiplomaofthatlevel,orapassingmarkonthesenior-levelcivilserviceexamorequivalentexam;12yearsexperienceworkinginpostaladministrationwithagoodjobrecord;completionofcourseworkininsuranceandauditing,withacombinedtotalofatleast40hoursofclassroomtimeandgraduationcertificatesfromaprofessionaltrainingfacilityrecognizedbytheMOTCandFSC.2.Adegreefromadomesticoroverseasjuniorcollegeorhigher-leveleducationalinstitution,oranequivalencydiplomaofthatlevel;10yearsexperienceworkingininsurancecompaniesand3yearsexperienceworkingasamanageroraboveorasimilarpositionintheheadquartersofaninsurancecompanywithagoodjobrecord.3.Adegreefromadomesticoroverseasjuniorcollegeorhigherleveleducationalinstitution,oranequivalencydiplomaatthatlevel;5yearsexperienceworkinginpostaladministrationorinsuranceadministrationwithagoodjobrecord;havingheldanintermediatelevelpositionofgrade8orabove,orapositionofsimilarrankwithagoodjobrecord.4.Otherexperiencesorfactsthatsufficientlyindicateleadershipquality,professionalknowledgeoroperationalexperiencesinthesimplelifeinsurancebusinesswhichindicatethatthepersonisabletorunthesimplelifeinsurancebusinessofChunghwaPostefficiently(asapprovedbytheFSCbeforehand). Article31IftheFSChasdoubtsaboutthequalificationsofaperson-in-chargeofthesimplelifeinsurancebusinessatChunghwaPost,theMOFmaynotifyChunghwaPosttosubmitnecessarydocumentationorinformationortosendsomeonetoexplainwithinacertaintimeframe. ChapterFourTheQualificationsandCertificationofActuariesandExternalReviewingActuaries Article32Toensureasoundoperationofpostalsimplelifeinsurancebusiness,ChunghwaPostmayemployinternalactuariesorappointexternalactuaries,andassignoneofthemasanappointedactuary.ChunghwaPostshallappointanexternalreviewingactuary(hereinafterreferredtoasreviewingactuary)toberesponsibleforhandlingthematterstoreviewtheappointedactuary’sreportdefinedbytheFSC.ThesameactuaryshallnotconsecutivelyreviewChunghwaPostoverthreetimesonthebasisofParagraph1ofArticle36.TheappointedactuaryprovidedinParagraph1andthereviewingactuaryprovidedinParagraph2shallhaveallofthefollowingqualifications:1.Thequalificationsofanactuary.2.Fiveyearsexperienceofactuarialworkinthefieldofinsurance.3.CourseworkcompletedintheprofessionalethicsofavaluationactuaryfromatrainingfacilitydesignatedorrecognizedbytheFSC.ActuariesreferredtoinParagraph1andsubparagraph1oftheprecedingparagraphtoaprofessionalworkingasaninsuranceactuarywhoisanassociateorfellowofadomesticactuarialinstitute(society)recognizedbytheFSC,orwhohaspassedanactuaryexamandobtainedacertificatefromaninsuranceacademicinstituterecognizedbytheFSC,orwhohasregisteredwiththeFSCasanactuarybeforetheenforcementoftheregulationshereof. Article33Anyonewhofallsintoanyofthefollowingcategoriesshallbeunqualifiedtoassumethepostofanappointedactuaryorreviewingactuary,andifthepersonhasassumedsuchpost,he/sheshallbedismissed:1.Legallyincompetentpersonsorlegallyquasi-incompetentpersons.2.Personswhohavebeenconvictedofrebellionortreason.3.Personsconvictedofforgery,embezzlement,fraudorbreachoftrustandsentencedtoimprisonmentwhoareeitherstillinprisonorwerereleasedfromprison,onprobationorpardonedwithinthelast10years.4.Personsconvictedofcorruptionandsentencedtoimprisonmentwhoareeitherstillinprisonorwhowerereleasedfromprison,onprobationorpardonedwithinthelast5years.5.PersonsconvictedofbreakingprovisionsofthisAct,InsuranceAct,BankingAct,SecuritiesTransactionAct,FuturesTradingActorForeignExchangeManagementActwhoweresentencedtoimprisonmentandareeitherstillinprisonorwerereleasedfromprison,onprobationorpardonedwithinthelast5years.6.Personswhohavesufferedorareresponsibleforamajorlossofcreditstanding,whetherresolvedornot,withinthelast5years.7.Personswhohavedeclaredbankruptcyandhavenotyetrestoredtherightstheylost.8.PersonswhohaveviolatedtheInsuranceActandbeenrevokedbyinsurancecompanyoverthepastfiveyears9.Personsthatevidenceshowshaveengagedinorbeeninvolvedinotherdishonestorimproperactivitiesandarethereforeunfittoserveasavaluationactuary.10.Therelationshipamongthereviewingactuary,his/heremployer,orChunghwaPostmeetstheconditionsofasameparty,asamerelatedparty,orasamerelatedenterpriseasregulatedinParagraph2ofArticle146-7oftheInsuranceAct.11.AreviewingactuaryworksconcurrentlyasanappointedactuaryofChunghwaPostorisinthesamecompanyorthesamerelatedcompanywiththeappointedactuary.Thevicepresident(orequivalentlevelofposition)orDirectorofDepartmentofLifeInsurancemaynotserveasavaluationactuaryatthesametime. Article34TheengagementofanappointedactuaryorthereviewingactuaryappointedbyChunghwaPostshallbefirstapprovedbymorethanhalfoftheattendanceinthemeetingoftheboarddirectorswhichshallbeattendedbymorethanhalfoftheboardmembersofChunghwaPost.Afterappointinganappointedactuaryorthereviewingactuary,ChunghwaPostshallfilethefollowingdocumentswiththeMOTCandtheFSCforrecordation:1.Theapplicationforengagement.2.Theminutesofthemeetingoftheboardofdirectorsrelatingtotheapprovalforassignmentorappointment.3.ThecertificatessubstantiatingthatanappointedactuaryorreviewingactuarymeetsthequalificationssetforthunderParagraph3ofArticle32.4.AstatementstatingthatanappointedactuaryorreviewingactuaryhasnotbeeninthecircumstancessetforthinArticle33.5.AletterofauthorizationissuedbytheboardofdirectorspursuanttoArticle38.Uponterminationofanappointedactuaryordismissalofareviewingactuary,ChunghwaPostshallfileawrittenstatementwiththeMOTCandtheFSC,explainingthereasonsfortheterminationordismissalandappointinganewappointedactuaryorreviewingactuary. Article35Anappointedactuaryshallfilewithanappointedactuary’sreportonthedatedesignatedbytheFSC,uponthefollowingparticularsonanannualbasis:1.Thepricingofpremium:thevaluationactuaryshallregularlymonitorthepremiumsofthecompany’ssimplelifeinsuranceproductsonthemarket.Ifanyofthepremiumratesarefoundtobeunfair,unreasonableorinappropriate,thevaluationactuaryshallmakesuggestionstoadjustthepremiumratesorrecommendotherfeasiblemeasures.2.AssessmentonAdequacyofvariousreserves:thevaluationactuary,apartfrommakingsurethatthereservesChunghwaPostsetsasidearenolessthantheminimumlegalrequirement,shallensurethatthereservesareadequateforfuturepaymentsforpoliciesinforce.Ifthereservessetasidearefoundtobeinadequate,thevaluationactuaryshallrecommendtoChunghwaPostastohowtomakeamends.3.Thedistributionofpolicydividends:beforetheannualdistributionofpolicydividends,thevaluationactuaryofChunghwaPostshallrecommendappropriatedividenddistributionmethods.4.Evaluationofinvestmentdecisions:withregardtothecoordinationofpostalsimplelifeinsuranceinvestmentsandtheimpacttheyhaveonitsassetsandliabilities,theevaluationactuaryshallprovidehis/herprofessionalanalysisandopinionforthereferenceofthosemakingfutureinvestmentdecisions.5.Theassessmentofthecompany’ssolvency:thevaluationactuaryshallusevarioushypotheticalmodelsforvaryingeconomicconditionsandenvironmentstoevaluatethefinancialsolvencyofpostalsimplelifeinsuranceeveryyear.6.OthermattersmandatedbytheFSC. Article36ChunghwaPostshallfilewiththeFSCthepeerreviewreportonthelatestannualappointedactuary’sreportwithreviewingitemsonthedatedesignatedbytheFSC.Theregulatedreviewingconditionsandfrequencyareasbelow:1.WhereChunghwaPost’sratioofadjustednetcapitaltorisk-basedcapital(hereinafterreferredtoasthe“RBCratio”)islowerthan200%forthepasttwoyears,thereviewassessmentshallbeconductedannually.2.WhereChunghwaPost’sRBCratioismorethan200%overthepasttwoyearsconsecutively,thereviewassessmentshallbeconductedeverythreeyearsstartingfrom2017.Basedonthequalityoftheappointedactuary’sreport,complianceofreservevaluationsandthebusinessdistributionsofChunghwaPost,theFSCshalladjusttheaforesaidreviewingfrequencyofthereviewassessment,anddesignateanotheryearandreviewingitemsofthereviewassessmentwhennecessary.ThenecessaryscopesanditemstobeincludedinthepeerreviewreportstatedintheParagraph1shallbestipulatedbytheFSC. Article37Whileonduty,shouldthevaluationactuaryfindthattheoperationofthepostalsimplelifeinsurancebusinessislikelytocauseorhasalreadyhadabignegativeimpactonthecompany’sfinancialsituation,thevaluationactuaryshallreporttothepresidentinwritingimmediatelyandmakerecommendationsonmeasurestoimprovethesituationwithinacertaintime.Ifthesituationisnotimprovedwithincertaintime,thevaluationactuaryshallreporttotheboardofdirectorsinwriting.Ifthesituationisserious,thevaluationactuaryshallreporttotheMOTCandFSCimmediately.Aftercompletingtheappointedactuary’sreport,theappointedactuaryshallsubmitthereport,togetherwiththerelevantproposalstotheboardofdirectorsofChunghwaPost.Ifnecessary,theboardofdirectorsortheFSCmayrequesttheappointedactuarygiveanoralexplanationofthecontentsofsuchsubmission.Aftercompletingthepeerreviewreport,thereviewingactuaryshallsubmitthecopyofthereporttoChunghwaPostanditsappointedactuaryforreference.Then,theappointedactuaryshallsubmittheresultofthereviewassessmenttotheboardofdirectorsofChunghwaPost.Ifnecessary,theboardofdirectorsortheFSCmayrequestthereviewingactuarygiveanoralexplanationofthecontentsofsuchsubmission,andtheappointedactuaryshallattend.ChunghwaPostshall,withinfifteendaysaftereachoftheboardmeetingsreferredintheprecedingthreeparagraphs,submittherespectivemeetingminutestotheFSCforrecordation. Article38TheboardofdirectorsofChunghwaPostshouldauthorizethevaluationactuarytobeallowedtomakethefollowingdemandsintheperformanceofhis/herduties:1.Thevaluationactuarymaydemandthepersonsresponsibleforortheemployeesofthepostalsimplelifeinsurancebusinesstoprovideaccurateinformationordocumentsaswellastoanswerquestionsrelatingtohis/hervaluationworks.2.Inregardtorelatedquestionsaboutthesolvencyofthepostalsimplelifeinsurancebusiness,thevaluationactuarymayattendmeetingsatChunghwaPostinwhichimportantdecisionsaremadeandexpresshis/heropinions.TheboardofdirectorsofChunghwaPostshallauthorizethereviewingactuarytorequesttheappointedactuaryorrelatedstafftoprovidecorrectinformationordocumentsassociatedwithhis/herreviewingproceduresandtoanswerrelevantquestions. Article39Anappointedactuaryorreviewingactuaryshallabidebythecodeofprofessionalethicsformembersoftheinstitution(association)ofactuariesofwhichheorsheisamemberorbythecodeofprofessionalethicsstipulatedbythedomesticacademicinsuranceinstitutionrecognizedbytheFSC.Thecertificationmadebyhimorhershallnotinanywaycontainanyofthefollowingdefects:1.Absenceofsuchexplanationsasarerequiredintheappointedactuary’sreportorthepeerreviewreport.2.Absenceofsuchexplanationsasthefalsification,concealment,omissionormisstatementofinformationcontainedintheappointedactuary’sreportorthepeerreviewreport.3.Disclosinghis/hermethodwhenitisnotconsistentwithrelatedregulationsandgenerallyacceptedactuarialprinciples. Article40Inanyofthefollowingcircumstances,anappointedactuaryorreviewingactuaryshallrefusetoperformcertification.:1.WhereChunghwaPostintendstomisleadhimorhertomakeafalseorimpropercertification.2.WhenChunghwaPostintentionallyrefusestoprovidenecessaryinformation.3.Whereheorsheisunabletomakeafair,detailed,andtruecertificationduetowrong-doingscommittedbyChunghwaPost. Article41Anappointedactuaryorreviewingactuaryshall,onaregularbasis,attendthetrainingprogramsdesignatedorrecognizedbytheFSCandobtaincertificatesprovingthathe/shehaspassed.AndshallbefiledwiththeFSCtogetherwiththeappointedactuary’sreportorthepeerreviewreportforrecordation.Anappointedactuaryorreviewingactuary,whofailstoobtainthecompletioncertificateforeachoftheaforesaidtrainingprogramswhichshallbeattendedinaspecificperiod,shallnotperformanycertificationforChunghwaPost. Article42InthecasethatanappointedactuaryorreviewingactuaryhasviolatedthisActortheregulationshereof,theFSCmaygivehim/herwarningorrevokehis/herqualificationsforcertificationfor3years,dependingontheseriousnessoftheoffense,andmayorderChunghwaPosttoreplacetheoffendingactuary. ChapterFiveTheQualificationofUnderwritersandClaimsadjusters Article43Underwritersofpostalsimplelifeinsuranceshallmeetoneofthefollowingfivesetsofqualifications:1.Adegreefromadomesticoroverseasjuniorcollegeorhigher-leveleducationalinstitution,oranequivalencydiplomaofthatlevel,orapassingmarkonthesenior-levelcivilserviceexamorequivalentexam;completionofcourseworkininsurance-relatedsubjects,withatotalofatleast120hoursofclassroomtime;fouryearsworkexperienceinassistingunderwriters.2.Adegreefromadomesticoroverseasjuniorcollegeorhigher-leveleducationalinstitution,oranequivalencydiplomaatthatlevel;fiveyearsworkexperienceassistingunderwriters.3.Workexperienceasapostallifeinsuranceclaimsadjusterincludingatleastoneyearofexperienceassistingunderwriters.4.Aqualificationthatistheequivalentofaninsuranceunderwriterqualificationfromadomesticoroverseasinsuranceassociation,insuranceresearchinstituteoragovernmentregisteredinsuranceprofessionalinstituteandhaveoneyearofexperienceassistingunderwriters.5.Aqualificationcertificateforaninsuranceunderwriteracquiredbeforetheimplementationoftheregulationshereof. Article44Claimsadjustersofpostalsimplelifeinsuranceshallmeetoneofthefollowingfivesetsofqualifications:1.Adegreefromadomesticoroverseasjuniorcollegeorhigher-leveleducationalinstitution,oranequivalencydiplomaofthatlevel,orapassingmarkonthesenior-levelcivilserviceexamorequivalentexam;completionofcourseworkininsurance-relatedsubjects,withatotalofatleast120hoursofclassroomtime;fouryearsworkexperienceinassistingclaimsadjusters.2.Adegreefromadomesticoroverseasjuniorcollegeorhigher-leveleducationalinstitution,oranequivalencydiplomainthatlevel;fiveyearsworkexperienceassistingclaimsadjusters.3.Workexperienceasapostallifeinsuranceunderwriterincludingatleastoneyearofexperienceassistingclaimsadjusters.4.Aqualificationthatistheequivalentofinsuranceclaimsadjusterqualificationsfromadomesticoroverseasinsuranceassociation,insuranceresearchinstituteoragovernment-registeredinsuranceprofessionalinstituteandatleastoneyearofexperienceassistingclaimsadjusters.5.Aqualificationcertificateforaninsuranceclaimsadjusteracquiredbeforetheimplementationoftheregulationshereof. Article45Personswhohavecommittedcrimesinternationallyandweresentencedtoimprisonmentwithinthelast5yearsmaynotserveasanunderwriterorclaimsadjusterofpostalsimplelifeinsurance;personswhohavecommittedcrimesinternationallyandweresentencedtoimprisonmentwithinthelast5yearsandwhoarealreadyanunderwriterorclaimsadjusterofpostalsimplelifeinsuranceshallbedismissed. Article46Personswhohavequalificationstobebothanunderwriterandclaimsadjustermayserveasonlyoneofthetwoforpostalsimplelifeinsurance.Anyclaimsadjusterofpostalsimplelifeinsurancemaynothandletheprocessofsigninganyclaimcasesthathe/shereviewedorsignedoffwithinthelastthreeyears.Anyunderwriterorclaimsadjusterofpostalsimplelifeinsurancemaynotconductunderwritings,claimreviewsorsigningoffforthecasesthathe/shepreviouslysolicited. ChapterSixInsuranceAgentsManagement Article47“Insuranceagents”asmentionedintheregulationshereofrefertopersonswhoengageinsolicitingpostalsimplelifeinsurancebusiness.“Insuranceagentsmanagement”asmentionedintheregulationshereofreferstothemanagementoftheseinsuranceagentsastheysolicitinsurancecontracts.InsuranceagentsofChunghwaPostmaynotsolicitpostalsimplelifeinsurancebusinesswithoutobtaininganagentregistrationcertificatefromChunghwaPostfirst. Article48Thepersonhasattainedtheageofmajorityandholdadegreefromajuniorhighschoolorhigher-leveleducationalinstitution,oranequivalencydiplomaofthatlevelmayapply,subjecttoChunghwaPost’sapproval,tobeaChunghwaPostinsuranceagentiftheyfallintoanyofthefollowingqualifyingcategories:1.Thosewhohavereceivededucationaltrainingonsimplelifeinsuranceandpassedaninsuranceagentqualificationtest.2.ThosewhohavepassedthelifeinsuranceagentqualificationtestheldbytheLifeInsuranceAssociationoftheROCmaydirectlyregisterafterreceivingeducationaltrainingonsimplelifeinsurance.3.Anyinsuranceagentwhohaspassedthepostalsimplelifeinsuranceagentqualificationtestbeforetheenforcementoftheregulationshereof.Therequiredqualificationsasmentionedintheprecedingparagraphshallbesetforthintheregulationsgoverningtheinsuranceagents.ChunghwaPostshalldrawuptheguidelinesfortheinsuranceagentqualificationtestsasmentionedinsubparagraph1ofparagraph1andsubmitthemtotheMOTCandFSCforreference. Article49ChunghwaPostshallnotapproveaninsuranceagentregistrationapplicationfromanyonewhofallsintoanyofthefollowingcategories(andregistrationshallbecancelledforanyonewhoalreadypossessesaregistrationfoundtobelongtoanyofthefollowingcategories):1.Legallyincompetentpersons,legallyquasi-incompetentpersonsorthosewithlimitedlegalcapacityorsubjecttothecourtorderofcommencementofassistanceandsuchorderhasnotbeenrevoked.2.Personswhoseapplicationsarefoundtocontainfalsestatements.3.PersonswhohaveviolatedprovisionsoftheOrganizedCrimePreventionActandwhoweresentencedtoimprisonmentandareeitherstillinprisonorwerereleasedfromprison,onprobationorpardonedwithinthelast5years.4.Personsconvictedofforgery,embezzlement,fraudorbreachoftrustandsentencedtoimprisonmentwhoareeitherstillinprisonorwerereleasedfromprison,onprobationorpardonedwithinthelast3years.5.PersonswhohaveviolatedprovisionsofthisAct,InsuranceAct,BankingAct,FinancialHoldingCompanyAct,TrustEnterpriseAct,theActGoverningBillsFinanceBusiness,FinancialAssetSecuritizationAct,RealEstateSecuritizationAct,SecuritiesTransactionAct,FuturesTradingAct,SecuritiesInvestmentTrustandConsultingAct,ForeignExchangeManagementAct,CreditCooperativeAct,MoneyLaunderingControlAct,orotherfinancialregulationswhoweresentencedtoimprisonmentinafinaljudgmentandareeitherstillinprisonorwerereleasedfromprison,onprobationorpardonedwithinthelast3years.6.Personswhohavedeclaredbankruptcyandhavenotyetrestoredtherightstheylost.7.Personswhohavesufferedorareresponsibleforamajorlossofcreditstanding,whetherresolvedornot,withinthelast3years.8.PersonswhoseregistrationiscurrentlysuspendedorwasrevokedhereofoverthepastthreeyearsasmandatedinArticle56.9.Personswhoareregisteredwithotherinsurancecarriers,insuranceagenciesorinsurancebrokercompanyorbankengaginginthesametypeofinsurancebusiness,andthepreviousregistrationhasnotbeencancelledtheirregistration.10.Personswhoalreadypossesslicensesofinsuranceagentsorinsurancebrokers,oractingastheresponsiblepersonofanotherinsuranceagentcompany,insurancebrokercompany,orinsurancesurveyorcompany.11.Thereisfactualproofthatthepersonhasengagedinorotherwisebeeninvolvedinanyotherdishonestorimproperactivityoverthepastthreeyearsandarethereforenotfitforthepositions.The“samekindsofinsurance”asmentionedinsubparagraph9oftheprecedingparagraphmeanslifeinsuranceorsimplelifeinsurance. Article50Shouldtherebeanychangeofstatusforaninsuranceagent,ChunghwaPostshalltakethefollowingactionstowardstheagent’sregistrationwithin5days:1.Addanentryofchangesshouldtherebeanychangesontheitemsregistered.2.Addanentryofsuspensioniftheagentisorderedtostopsolicitingaspunishment.3.Thesolicitor’sregistrationrevokedinaccordancewithArticles49hereofaddanentryofannulmentshouldtheagentdie,loselegalcapacity,terminatehis/hercontractwithChunghwaPostorforotherreasonsstopsolicitingforChunghwaPost.4.Addanentryofrevocationshouldtheagent’sregistrationrevokedinaccordancewithArticles51or56hereof.Underanyofthesituationssetforthinsubparagraphs2-4oftheprecedingparagraph,theagentorhis/herheirshallhandintheregistrationcertificateforcancellation.Thechangeofstatusofanagentasmentionedinsubparagraph3ofthefirstparagraphshallbethedateonwhichthesolicitorhascompletedthechangeformalities.Beforeanychangeinanagent’sregistrationiscompleted,theagent’sactionssolicitinginsurancewillstillbedeemedasactsofthecompany. Article51AfterregisteringwithChunghwaPost,insuranceagentsshallattendtrainingheldbyChunghwaPostregularly.ChunghwaPostshallrevoketheregistrationofanyinsuranceagentfailingtoattendantrainingcourse.Thesameshallapplytoanyagentwhofailsthetrainingcoursetwiceinarow. Article52AgentsregisteredwithChunghwaPostshallsolicitsimplelifeinsurancebusinessforChunghwaPostonly. Article53AnyagentwhosolicitspostalsimplelifeinsurancebusinesswithChunghwaPost’sauthorizationshallbedeemedasengaginginbehaviorauthorizedbyChunghwaPost;ChunghwaPostshallstrictlymanagetheregisteredsolicitorsandshallbejointlyandseverallyliableforanydamagecausedbysolicitationofthesolicitors.Theauthorizationasmentionedintheprecedingparagraphshallbeinawrittenformandenteredontheagent’sregistrationcertificate.Thesolicitingofpostalsimplelifeinsurancebusinessasmentionedinthefirstparagraphhereofreferstothefollowingbehaviorsofsolicitors:1.Explainingthecontentsandpolicyclausesofinsuranceproducts.2.Explaininghowtofilloutapplicationforms.3.Conveyingapplicationdocumentsandpolicies.4.OtherbehaviorsauthorizedbyChunghwaPosttocarryoutsolicitationofpostalsimplelifeinsurancebusiness.Inengagingintheactofinsurancesolicitationreferredtointheprecedingparagraph,asolicitorshallmeetwiththeapplicantandtheinsuredinpersonandobtaintherelevantinsurancedocumentssignedbytheapplicantandtheinsured,unlessotherwisestipulatedbytheFSC. Article54ChunghwaPostshallestablishaseparatesetofguidelinestogovernthesolicitationofbusinessoftheinsuranceagents. Article55InthecasethataninsuranceagenthasviolatedtheSimpleLifeInsuranceAct,ortheFSCorMOTChasmadeenquiriesaboutthesolicitingofinsuranceofaninsuranceagent,ChunghwaPostshallmakeanexplanationwithincertaintimeframesetbytheFSCorMOTC. Article56Shouldanagentviolatetheregulationshereoforbeatfaultinanyofthefollowingways,apartfromwhenanagentsuspectedofbreakingthelawshallreferthesolicitortothelawenforcementforinvestigationofallegedcrime,ChunghwaPostshallpunishhim/herwithasuspensionforthesaidsolicitationactivitiesforaperiodofnotlessthanthreemonthsbutnotmorethanoneyearorrevokehisorhersolicitorregistration,andarrangemandatorytrainingsforthesolicitor:1.Inregardtomattersaffectingtherightsandinterestsoftheapplicantortheinsured,theagenthaseithergivenanexplanationthatisamisrepresentationorhasfailedtogiveanyexplanationatall.2.Theagentinstigatestheapplicantortheinsuredtoconcealfactsormakefalsestatements;ortheagentknowsthattheapplicantortheinsuredhasconcealedfactsormadefalsestatementsandhasintentionallykeptitfromthecompany.3.Theagenthinderstheapplicantortheinsuredfromprovidingrelevantinformation.4.Inordertoobtainbusiness,theagentgivestheapplicantortheinsuredincorrectquotes,sharingpartsofthecommissionoremployingsomeotherinappropriatemethodtoprovideadiscountonthepremium.5.Theagenthasmadeexaggeratedpromotionalstatementsoradvertisementsorusedotherinappropriatemethodstosolicitbusiness.6.TheagenthashiredpeopletoworkforhimorherwithoutthepermissionofChunghwaPost.7.Signeddocumentsonbehalfofanapplicantoraninsured,orfilledoutaninsurancecontractdocumentwithouttheconsentorauthorizationofanapplicantoraninsured.8.Instigatedanapplicantbymeansofthreat,inducementwithpromiseofgain,concealment,deceit,oranyotherinappropriatemeans,orfalserepresentationtoterminateanin-forceinsurancecontractandenterintoanewcontractthatresultedindamagetotheapplicant.9.TheagenthasreceivedpremiumswithoutChunghwaPost’sauthorization,ortheagenthasreceivedpremiumswithChunghwaPost’sauthorizationbutinsteadofturninginthemoneyhasembezzleditorfailedtogiveaformalreceiptinaccordancetoregulations.10.Lenthisorhersolicitorregistrationcertificateforusebyothersorusedother’sregistrationcertificate.11.SolicitedorrecommendedinsurancebusinessorotherfinancialproductsnotyetapprovedorrecordedbytheFSC.12.SolicitedinsurancebusinessorbusinessinsimilarnatureonbehalfofajuristicpersonoranindividualthathasnotbeenapprovedbytheFSCtoengageininsurancebusiness.13.Madeimpropercomparisonbymeansofexaggerationormisrepresentationbetweendifferentinsurancecontracts,orbetweenaninsuranceproductandbankdepositorotherfinancialproducts.14.Disseminateduntruestatementsorpromotionalmaterials,hencedisruptingthefinancialorder.15.Divertedthefundsoftheapplicantorkeptthepolicyandthesealoftheapplicantunderhisorhercustody.16.InvolvedinanymajorviolationormalpracticeinthequalificationtestprovidedinArticle48,whichhasbeenverified.17.Otherbusinessmisconductinthecapacityofasolicitor.Foranyagentwhoseregistrationhasbeensuspendedforatotaloftwoyearswhiletheagent’sregistrationisstillvalid,theagent’sregistrationshallrevokehisorhersolicitorregistration.SolicitorswhorefusetoacceptsuspensionandrevokeofsolicitorregistrationmaylodgeanappealtoChunghwaPostwithinonemonthfromthedayfollowingthedateonwhichthenoticeofpunishmentarrives,andtheappealshallnotbemademorethanonce.ChunghwaPostshallnotifythesolicitorinwritingoftheresultofthereviewwithinonemonthfromthedayfollowingthedateonwhichthewrittenmaterialsoftheappealarrive. ChapterSevenSupplementaryProvisions Article57Theregulationshereinshallbecomeeffectiveonthedateofitspromulgation. Website：Laws&RegulationsDatabaseofTheRepublicofChina(Taiwan)