Article 163 If an insurance company violates the provisions of this Law and commits any of the following acts, the insurance supervision and regulation institution shall order it to make corrections and impose a fine of not less than 50,000 yuan but not more than 300,000 yuan:
(1) Overunderwriting, and the circumstances are serious;
(2) Insuring insurance with death as the condition for payment of insurance benefits for persons without civil capacity.
Article 164 Whoever, in violation of the provisions of this Law, commits any of the following acts shall be ordered by the insurance supervision and regulation institution to make corrections and be fined between 50,000 yuan and 300,000 yuan; If the circumstances are serious, its business scope may be restricted, and it may be ordered to stop accepting new business or revoke its business license:
(a) failing to deposit the deposit in accordance with the provisions or using the deposit in violation of the provisions;
(2) Failing to withdraw or carry forward various liability reserves in accordance with regulations;
(3) Failing to pay the insurance protection fund or withdraw the provident fund in accordance with the provisions;
(4) Failing to handle reinsurance in accordance with regulations;
(5) Failing to use the insurance company's funds in accordance with regulations.
(six) the establishment of branches without approval;
(7) Failing to submit for approval the insurance clauses and insurance rates as required.
Tips: The above information is for reference only.
Reply time: 2022-0 1-2 1. Please refer to the latest business changes announced by Ping An Bank in official website.