Regulations Governing Online Insurance Business and Online Insurance Services of Insurance Agent Companies and Insurance Broker Companies Article 5

An insurance agent/broker company that applies for approval to conduct online insurance business shall meet the following qualification requirements:1.The company has established and implemented internal control and audit system as well as solicitation system and procedures in accordance with the Regulations Governing the Implementation of Internal Control and Audit System and Business Solicitation System of Insurance Agent Companies and Insurance Broker Companies.2.The company has not been subject to major sanctions and penalties imposed by the competent authority in the most recent year, or if it has, concrete improvement actions have been taken to remedy the violation and recognized by the competent authority.3.The company can present its annual financial statements that have been audited and certified by a certified public accountant. The preceding provision does not apply to recently established internet-only banks that are unable to present annual financial statements.4.The company is ISO 27001 (information security standards) and PIMS (Personal Information Management System) certified and has established a traffic cleaning mechanism against distributed denial-of-service attack (DDoS).When an internet-only bank applies for approval to conduct online insurance business, if the time elapsed from the date it starts business to the date of application is shorter than the time period specified in Subparagraph 2 of the preceding paragraph, the duration during which the bank has been in business shall apply.