1. CISFC engages in the collection, management and employment of CISF;
2. CISFC monitors risks in the insurance industry, and advances regulatory resolution suggestions to CIRC when targeting at any material risk within the operation and management of insurance companies, which may endanger policyholders and the whole industry;
3. CISFC provides bailout for policyholders, policy transferee companies, other individuals and institutions, or participates in risk resolution of the insurance industry;
4. CISFC participates in the liquidation of an insurance company when it is dissolved or declared bankruptcy according to the law;
5. CISFC takes over and disposes of liquidation assets; and
6. CISFC runs other businesses approved by the State Council.
Board of Directors
The Company sets up the Board of Directors. The First Board of Directors was composed of nine directors from regulatory authorities, related ministries/commissions and insurance companies. The Board of Directors of CISFC exercises its powers and makes material decisions of the Company in accordance with the Articles of Association and the Rules of Procedure of the Board of Directors.
The Senior Management of CISFC is responsible for daily operation and management. At present, the internal organizations of the Company include General Office (Office of the Party Committee and Office of the Board of Directors), the Fund Collection and Deposit Management Department, the Investment Planning and Management Department, the Risk Resolution Department, the Risk Monitoring Department (Insurance Consumer Survey Center), the Legal Affairs, Internal Control and Compliance Department, the Financial and Accounting Department, the Information Management Department, the Research and International Cooperation Department(Editorial Office of the Observation of Insurance Risk), the Human Resources Department (Organization Department of the CPC Committee),the Discipline Supervision Department (Audit Department),and the Party Publicity and Masses Affairs Department (Office of Party Committee Inspections)
CISFC has established the Investment Risk Control and Assessment Committee and the Investment Decision Assessment Committee to assure scientific and professional decisions on such material issues as investment, as well as implement prudential risk control.