Former Beijing insurance intermediaries May be fined $ million

Business News (reporter Cui Qibin) in order to regulate the development of the insurance intermediary market, regulators continue to increase the intensity of violations against. Yesterday from Beijing Insurance Bureau, is an insurance intermediary issued the ticket. According to reporter statistics, the first 5 months of this year fined for insurance intermediaries in Beijing 15 (time), the total fine of $ 1 million. Last year only a $ 20,000 fine. Insurance Bureau announced recently in Beijing, September 14, 2010, Beijing, Beijing administration according to law on State AIDS the insurance agents conducted spot checks identified the companies prepare false information, is not required to use a separate account to collect premiums and behavior that are not required to pay supervision fees, total company and those responsible were fined $ 190,000. Recommended reading insurance weekly: increased warehouse investment over 30,000,000,004 months insurance funded deposits moved near billions of cast even insurance May then case Waterloo income differentiation country life cast even insurance success escape top 5 name foreign executives joined China peace Qian May Beijing insurance intermediary was penalty million history with shares mass insurance holding 20% Qiming: shocks city in the how mining Daniel unit apart from above Beijing country JI was penalty outside, also has insurance intermediary institutions appears using expired license, and virtual open insurance intermediary service unified invoice, behavior. Among them, Beijing in March this year five insurance agency limited and illegally engaged in the insurance intermediary business of personal insurance agency business, preparation of false information, appointment does not have the qualifications of the personnel was fined $ 290,000. Face of the continuing violations of insurance intermediary market, regulators increased determination to revamp. The China insurance regulatory Commission pointed out that this year will focus on the insurance agency market and straighten, a number of serious illegal according to the law, management agencies that are out of cleaning up the market, promoting to standardization, specialization of insurance intermediary market. It is understood that the present insurance insurance intermediary threshold has been increased from $ 500,000 to $ 2 million. Worthy of note is, at present China insurance regulatory Commission encourages insurance companies to establish professional sales agencies. Insurance experts explained that the traditional insurance intermediaries and insurance enterprises is business agent, on the business side often trickery, sometimes the dangerous level of individual departments or joint agency use of intermediary business cash costs, due to insurance companies and insurance sales company in the future equity relationship exists, you can minimize the occurrence of such phenomena. The latest data show that there are 5 insurance companies building their own intermediary institutions sales outsourcing.