Newsletter
Partial Amendment to the Regulations Governing Insurance Enterprises Outsourcing Operation
The FSC issued a ruling (Ref. No. Jin-Kuan-Pao-Shou-10302552881) on 30 December 2014 to amend the Regulations Governing Insurance Enterprises Outsourcing Operation. Key amendments are summarized as follows:
1. To meet current practical needs of insurance enterprises and further clarify the content of the regulations, amendment was made to the scope and items of operations that are permitted to be outsourced by insurance enterprises.
2. Amendment to the qualifications and requirements for local insurance enterprises to offshore outsource the information system data entry, processing and output relating to individual policyholders and the documents required for applying for approval of competent authorities. New stipulation of a risk management mechanism for offshore outsourcing.