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In contemporary insurance market,the insurance industry competition is very fierce,and in order to strive for competitive advantage,many insurance companies are attracted by lowering the premium rate customers,thus enabling the lower underwriting profit in the underwriting profits and investment returns of and insurance companies operating activities constitute a major source of profit,underwriting profit of insurance companies means that the reduction of the main profit comes mainly from investment income,the use of insurance funds has become the healthy development of China's insurance industry basis.In China gradually broaden the investment channels of insurance capital in the process,the risk of the use of insurance funds control problem becomes particularly important.Transform the market in the current environment,the use of insurance funds faced with a variety of risks such as interest rate risk,credit direction,market risk,liquidity risk,operational risk,in particular the 04 insurance funds to directly invest in stocks,make use of insurance funds risk becoming more complicated,and have the permission of funds for investment in overseas markets,investment banking and equity real estate investment simply,the insurance industry will provide greater stability challenges.This paper mainly on the use of insurance funds to the risks faced by research,analyze,and the possibility of their occurrence,and to propose measures to avoid risks to the use of insurance funds can play a more effective,thereby protecting the interests of policyholders and ensure Catastrophe pay,and promote the interaction of China's capital market,and promote the sound development of the insurance industry,and promote economic development.