Regulations Governing Implementation of Internal Control and Auditing System of Insurance Enterprises Article 34-1

An insurance company shall establish suitable risk management policies and procedures, which shall be passed by the board of directors and be regularly reviewed.An insurance company shall establish an independent risk management task force and regularly report to the board of directors; upon identifying a significant risk exposure that might adversely affect its financial or business status or compliance with applicable acts and regulations, it shall take immediate and adequate countermeasures and submit a report to the board of directors.