Take risks and enterprise sale promotions will be subject to a fine of $ 500,000

Business News (reporter Cui Qibin) take risks and enterprise product sale promotion will eat the ticket. New rules made by the China insurance regulatory Commission proposed yesterday shows that insurance companies to stop using the name sales misleading insurance clauses and insurance rates, maximum will be fined $ 500,000. Yesterday, the China insurance regulatory Commission published the personal insurance company rules on administration of insurance clauses and insurance rates (exposure draft) (hereinafter referred to as the way), open for comments. The method calls, the insurance company shall strengthen the insurance terms and rates of usage management, not to stop using the insurance clauses and insurance rates advertising hype and sales on behalf of misleading. Recommended reading insurance weekly: variable amount annuity pilot started Beijing Shanghai five city first wins insurance enterprises violations promotions penalty 500,000 insurance ring "Wang yawei" emerge surface exaggerated income does not to risk silver insurance disputes constantly should first to family "pillar" Shang foot insurance regardless of from lost insurance is zehui Shi Qiming jointly immortal see disk build boutique lecture for appears above publicity hype, and sales misleading, or provides false report, and is not by provisions using approved insurance terms rates for sales of, insurance regulatory Commission will ordered its correction, and can sentenced 100,000 yuan above 500,000 yuan following of fine. For serious insurance companies, insurance regulatory Commission will limit the scope of its business, or revoking business licenses, ordered to stop accepting new business. In fact, in June last year China insurance regulatory Commission has warned against the borrowed sale promotions and interviews with some companies, but did not introduce penalties. For a product sale, the provisions also make clear the way, requires after the insurance company should be to stop using submit a report to the China insurance regulatory Commission on 10th, instructions to stop the use of reason, subsequent service measures, and branch and the following branches at the provincial level shall not be entitled to a decision suspending the sale of a thing. The procedures for approval and filing of personal insurance provisions and many other aspects of a comprehensive carding. Data show that China insurance regulatory Commission has repeatedly introduced special provisions, such as life insurance product name requirement, short-term accident insurance premium rate provisions, life insurance products for approval and record-keeping requirements. The approach will introduce uniform provisions, and to refine the approval and record-keeping processes, clear penalties. The measures once implemented, China insurance regulatory Commission was released in 2000 by the personal insurance products named interim measures and the release of short-term accident insurance premium rate and to simplify short term of notice of casualty insurance filing procedures, as well as the 2004 release of the life insurance product approval and record management procedures will be repealed.