| Legislative： |
Amended on February 7, 2025 |
| Content： |
I. These Directions are established to regulate the collaboration between insurance enterprises, insurance agents, or insurance brokers and business entities in other industries to promote the insurance service business, protect the rights and interests
of consumers, and uphold their professional image.
II. Unless otherwise specified in laws and regulations, insurance enterprises, insurance agents, and insurance brokers shall collaborate with business entities in other industries to promote insurance service business (hereinafter referred to as "the Business")
in accordance with these Directions.
III. The term "insurance agents" as used in these Directions refers to companies with a corporate organization that operate insurance agent businesses or banks that concurrently operate insurance agent business.
The term "insurance brokers" as used in these Directions refers to companies with a corporate organization that operate insurance brokerage businesses or banks that concurrently operate insurance brokerage business.
IV. The term "Business" as used in these Directions refers to the following lines of business:
(I) Innovative insurance products provided by insurance companies in direct collaboration with financial technology operators from other industries in accordance with paragraph 1 of Article 7-1 of the Directions for Insurance Enterprises Engaging in Electronic
Commerce Business.
(II) The following lines of business of ancillary insurance products conducted by insurance companies, insurance agents or insurance brokers in collaboration with other industries:
1. Partnership with airlines to promote travel-related insurance through their online platforms or mobile applications (apps).
2. Partnership with sellers of travel products to promote travel-related insurance through their online platforms, apps and business premises.
3. Partnership with mobile communication service providers offering international roaming services to promote travel-related insurance through their online platforms or apps.
4. Partnership with mobile device manufacturers to promote mobile device insurance through their official websites, directly-operated stores, or distributors.
5. Partnership with Chunghwa Post Co., Ltd. to promote fire and earthquake insurance for mortgage business through the official website or online platform.
6. Partnership with electric motorcycle manufacturers to promote Usage Based Insurance (UBI) motorcycle physical damage insurance, UBI motorcycle third-party liability insurance, and additional insurance of the two aforementioned insurance products through
their official websites or apps.
7. Partnership with diabetes service management platform providers to provide health insurance for diabetic patients through their online platforms or apps.
8. Partnership with online shopping platforms or their apps to promote insurance products covering product repair, product loss, and account loss, in relation to the sale of 3C products, home appliances, and the collection of payments.
V. Personnel engaged in the solicitation of the Businesses shall be required to obtain insurance solicitor registration qualifications and complete insurance solicitor registration in accordance with the Regulations Governing the Supervision of Insurance Solicitors.
The insurance enterprises, insurance agents, and insurance brokers of the personnel referred to in the preceding paragraph shall establish comprehensive management and evaluation mechanisms for such personnel.
VI. When an insurance enterprise, insurance agent, or insurance broker conducts the Business, it shall ensure that any partner from another industry and any distributor thereof meets the following criteria:
(I) It shall be a company limited by shares or a limited company established in accordance with laws with paid-in capital of at least NT$10 million or its equivalent in a foreign currency.
(II) The official website, online platform, or mobile application (app) must meet the following criteria:
1. It must be equipped with security management, firewall, intrusion detection, and other related information security mechanisms.
2. It must have the ability to connect to the insurance enterprise's open service application programming interface (API), provide external protection, and maintain stable operation.
(III) Where the collection, processing, or use of personal data is involved, the partner must obtain certification for the international standard of information security management systems (ISO27001) and personal information management system (PIMS).
VII. Insurance enterprises, insurance agents, insurance brokers, and companies from other industries working together to promote the Business shall comply
(I) They shall sign collaboration contracts to specify their rights and obligations and set the remuneration for the Business, personnel training, qualifications, consumer dispute resolution, and other important matters.
(II) The promotion materials and advertisement must be approved by the insurance enterprise.
(III) Insurance enterprises, insurance agents, and insurance brokers shall not coerce, induce, or restrict the rights of the proposer or the insured to enter into a contract by leveraging the duties or business of the collaborating entity or use any other inappropriate
means, and shall not provide any additional remuneration or other benefits other than those stipulated in the contract signed with the collaborating entity.
(IV) The management costs and related remuneration such as commissions and bonuses shall not exceed the additional cost of the product, and the difference in cost shall not cause losses in additional expenses.
(V) The collection, processing, and use of personal data for the Business shall comply with the Personal Data Protection Act and relevant regulations, and consumers must be fully informed of the important particulars of the insurance products.
VIII. Where insurance enterprises, insurance agents, insurance brokers, and partners from other industries collect insurance premiums, they must specify in the collaboration contract that the company from another industry shall set up a separate premium income
account and settle the premiums in a timely manner. The maximum period for premiums to be paid to the insurance enterprise shall not exceed one month, and the premiums shall not be used to offset the remuneration payable to such companies.
IX. When insurance enterprises, insurance agents, or insurance brokers conduct the Business, they shall establish an internal control and audit system to include the contents of these Directions and comply with the following provisions:
(I) Establishing internal control procedures that include decision evaluation, benefit analysis, approval hierarchy, governance structure, and risk management mechanisms.
(II) Except for those handling the Business specified in Subparagraph 1 of Point 4, which should be conducted in accordance with the Directions for Insurance Enterprises Engaging in Electronic Commerce Business, before commencing the Business, the head of compliance
and the head of risk management of insurance enterprises shall each issue a signed statements confirming that the Business complies with applicable regulations and internal rules; for insurance agents and insurance brokers, the statement of compliance shall
be issued by the compliance officer.
(III) Periodically reviewing the implementation of internal control operations, and reporting the results to the board of directors, to all directors of insurance agents or insurance brokers organized as limited liability companies, or to the authorized personnel
by the head office of foreign insurance enterprises in Taiwan. In the event of a material contingency, it should be handled and reported in accordance with the regulations of the competent authority.
(IV) Conducting a routine audit of the Business once a year and conducting special audits as needed.
Insurance enterprises, insurance agents, or insurance brokers shall report to the competent authority for record within one month after conducting the Business; the same applies when ceasing to conduct the Business.
If insurance enterprises, insurance agents, or insurance brokers violate the provisions of these Directions, the competent authority may impose suitable penalties based on the severity of the violation. |