專屬保險監理法制之研究 ——兼論我國建構專屬保險制度之立法芻議

Study on the Regulation of Captive Insurance: Proposal for the Legislation of Captive In-surance in Taiwan

專屬保險乃非保險業之企業集團，為承保母公司或企業集團本身風險而設立之保險組織，以有效進行風險管理。由於國際金融市場自由化，各國金融監理逐漸採取解除管制政策，引發國際專屬保險註冊地競相提供較佳法規制度吸引企業投資之規範競爭，如何相應採取適當之興利防弊措施，自屬當前保險監理之重要課題。本文首先檢視專屬保險的法律概念與經濟功能，分析全球專屬保險註冊地的立法趨勢，及其重要監理課題。其次，本文探討國際保險監理官協會所建議適用的保險核心原則。再者，本文針對國際上重要的外國立法例進行比較分析，探究我國未來適當的立法模式。最後，本文擬具建構我國專屬保險制度之立法芻議，提供相關單位未來推動專屬保險制度之參考。

A captive is an insurance company which underwrites risks as-sumed by its parent company or affiliates by utilizing a mechanism of alternative risk transfer. It is owned by a parent company other than the insurance or reinsurance group entity to which it belongs. Due to the liberalization of global financial markets and the elimination of trade barriers, the trend to deregulate financial supervision followed by regu-latory competition between captive domiciles has been noted. This pa-per first reviews the legal status of captive insurance and its economic functions for corporate risk management. While analyzing the competi-tion of current captive domiciles, this paper proposes the questioned regulatory issues, e.g. “domicile arbitrage” and “race to the bottom” ar-guments. Accordingly, this paper reviews the guidance provided by the International Association of Insurance Supervisors (IAIS) to follow the “Insurance Core Principles” specifically relevant to captive supervision. Meanwhile, this paper also conducts a comparative study of the legisla-tion of major captive domiciles, including those of Bermuda, Vermont and Singapore, so as to contribute proposals towards an appropriate reg-ulatory model for Taiwan. Eventually, this paper examines the related regulation issues of the Insurance Act in Taiwan and makes recommen-dations to the regulatory authorities for systemic reform in the future.