隨著金融自由化、國際化的發展趨勢，證券商業務種類增加、網路交易增加，隨之而來的風險也增加，但台灣的證券商面對隨之而來的風險卻缺少相對應量身訂做的保險規劃。 因此本研究除了探討證券商所面臨的風險、提撥基金保障投資人及交割義務外，亦介紹香港證券及期貨保險制度，並對於證券商所面臨的風險提出保險轉嫁的方法，期能使證券商之風險管理機制更加健全與完善。因此，本研究主要架構包含下列四點： 1.瞭解證券商所面臨的風險。 2.分析此類風險可否轉嫁。 3.國外如何轉嫁此類風險。 4.國內可行之保險方式。 本研究採專家訪談加上封閉式問卷調查方式，針對國內知名證券商的風險管理主管以及產險業的核保主管加以訪談。依據本研究訪談結果發現，證券商期望的保險規劃（需求面）與保險公司願意提供的承保條件（供應面）仍有落差存在，這落差應是產險公司缺乏相關損失統計資料及承保能量所導致。為使台灣的證券保險更具可行性，本研究也提出相關建議。期使本研究能同時有益於投資人、證券商以及保險公司，以創造三贏的局面。 Due to the financial market liberalization and globalization, now the Securities firms in Taiwan is enlarging their business scale and scope. Further more, accompanied their enlarging business scale and scope, securities business risks are also increasing. Even though now the securities have to face more uncertainty risks, there are few custom-made insurance policies for our securities in Taiwan. The purposes of this research not only identifies securities business risks and provide an overview of the investor protection mechanism and Settlement /Clearance Fund, but also provide a custom-made insurance policies which can transfer securities operation risks. The main structure in the research are as follows： （1）Identify its risks which securities may face. （2）Analysis such risks cam be transferred to insurers or other mechanism. （3）Introduction of Overseas experience, especially their risk transfer method. （4）Study the feasibility of insurance strategy for securities in Taiwan. The methodology of this research also adopts Expert Interview with written closed-end questionnaire, and interviewed the underwriters of insurance companies and risk managers of securities in Taiwan This research finds out that there is a gap between Demand (The Securities) and supply (The insurers). Due to the lack of loss experience and underwriting capacity, insurers hesitate to cover against its risks which securities may face. Thus, In order to eliminate the gap it mentioned above, this research provides some suggestions to let the securities insurance be more feasible. Hope this research can benefit investors, securities and insurers and create win-win-win situation in the future.
