1. 在台灣規定外國保險業非經主管機關許可，並依法為設立登記，繳存保證金，領得營業執照後，不得開始營業(保險法第137條第3項)，且欲在台灣發行的保單，都需送交台灣金融監管機關FSC核准或備查後，方可正式發行。

然因為保險業務依據險種或是契約特性，也常有未經台灣主管機關許可設立之外國保險公司，因故在台灣境內發生一定保險契約關係的情況(如台灣要保人透過保險經紀人向外國保險公司投保，保險計劃中有被保險人/受益人位於台灣等)，而該保險契約因未曾經過FSC核准或備查，而可能構成所謂unadmitted insurance contract。此時，台灣金融監管機關FSC是否可能認定外國保險公司在台灣違法經營保險業務而受處罰，自應加以留意。

2. 台灣金融監管機關的基本立場是，在台灣經營保險業務是指在台灣從事招攬、核保、締約等保險核心業務，若未在台灣從事上述業務則不至於違反保險法之規定。但若外國保險業違反上揭規定而於未經許可、辦理設立登記之情形下於台灣從事招攬保險業務，主管機關將可依保險法第166條規定處以停業、新台幣300萬以上1500萬以下等罰鍰行政處分。若替未經許可的外國保險業在台灣代理、經紀或招攬保險業務之行為人，將受刑事追訴，雇用該行為人之法人，也將被課予罰金，此則規範於保險法第167-1條:

為非本法之保險業或外國保險業代理、經紀或招攬保險業務者，除屬配合政府政策需要且經主管機關公告之保險，透過保險經紀人向國外之保險業投保者外，處三年以下有期徒刑，得併科新臺幣三百萬元以上二千萬元以下罰金；情節重大者，得由主管機關對保險代理人、經紀人、公證人或兼營保險代理人或保險經紀人業務之銀行停止一部或全部業務，或廢止許可，並註銷執業證照。

法人之代表人、代理人、受僱人或其他從業人員，因執行業務犯前項之罪者，除處罰其行為人外，對該法人亦科該項之罰金。

3. 至於與未經許可設立的外國保險公司成立之保險契約，台灣法院判決則傾向認為並非概為無效，而屬於民事契約範疇。此點，也可從目前台灣現行相關法令，並未明文禁止台灣人民向外國保險公司投保、簽訂保險契約或加以否認其保險契約效力，得到印證。

1.    Under Taiwanese law, a foreign insurance company may not commence business in Taiwan unless it has obtained approval from the competent authority, completed the incorporation and registration procedures, deposited the required guarantee bond, and obtained a business license (Insurance Act, Article 137, Paragraph 3). In addition, any insurance policy intended to be marketed in Taiwan must be submitted to the Financial Supervisory Commission (“FSC”) for approval or filing before it can be officially issued.

However, due to the nature of insurance business and certain policy structures, it is not uncommon for a foreign insurer that has not been authorized to operate in Taiwan to nonetheless become involved in insurance contract relationships connected to Taiwan. Examples include a Taiwanese policyholder purchasing insurance from a foreign insurer through an insurance broker, or situations in which the insured or beneficiary under an insurance program is located in Taiwan. Because such contracts have not been approved or filed with the FSC, they may be considered “unadmitted insurance contracts.” In such circumstances, whether the FSC may deem the foreign insurer to be conducting insurance business in Taiwan without authorization—thereby triggering potential penalties—has drawn considerable attention.

2.    The FSC’s general position is that “conducting insurance business in Taiwan” refers to engaging in core insurance activities within Taiwan, such as solicitation, underwriting, or contract execution. If the foreign insurer does not perform such activities in Taiwan, it would not be deemed in violation of the Insurance Act. However, if a foreign insurer engages in solicitation of insurance business in Taiwan without obtaining the required approval or registration, the competent authority may impose administrative sanctions under Article 166 of the Insurance Act, including an order to cease business and an administrative fine ranging from NT$3 million to NT$15 million.

Furthermore, any person who acts in Taiwan as an agent, broker, or solicitor for an unapproved foreign insurer will be subject to criminal liability. A corporate entity that employs such a person will also be subject to monetary penalties. These matters are governed by Article 167-1 of the Insurance Act, which provides:

A person who acts as an agent, broker, or solicitor for an insurance enterprise that is not an insurance enterprise under this Act or a foreign insurance enterprise—except for insurance procured from foreign insurers via insurance brokers in accordance with government policy as publicly announced by the competent authority—shall be subject to imprisonment of up to three years and/or a criminal fine between NT$3 million and NT$20 million. For serious violations, the competent authority may order insurance agents, brokers, notaries, or banks concurrently engaging in insurance agent or broker activities to suspend part or all of their business or revoke their licenses and cancel their registration certificates.
Where the representative, agent, employee, or other personnel of a legal entity commits the above offense in the course of its business, the legal entity shall be subject to the same monetary penalties in addition to the punishment imposed on the individual offender.

3.    With respect to insurance contracts concluded with a foreign insurer that has not been approved to establish operations in Taiwan, Taiwanese court decisions generally do not consider such contracts automatically invalid; rather, they are treated as ordinary civil contracts. This approach is consistent with the fact that current Taiwanese laws do not expressly prohibit Taiwanese individuals from purchasing insurance, entering into contracts with foreign insurers, nor do they provide that such contracts are void.