Handling of Violation Events in Heilongjiang Branch of China United Property Insurance Co., Ltd.

Heilongjiang Branch of China United Property Insurance Co., Ltd. has the following illegal acts: operating auto insurance business across provinces; Unrealized expenses; Give the insured and the insured benefits beyond those stipulated in the insurance contract. Yao is responsible for the illegal acts of falsifying expenses and giving benefits to the insured and the insured other than those stipulated in the insurance contract.

Legal basis:

People's Republic of China (PRC) insurance law

Article 170 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 100,000 yuan and 500,000 yuan; If the circumstances are serious, the business scope may be restricted, the business license may be revoked or ordered to stop accepting new business: (1) preparing or providing false reports, statements, documents and materials; (2) Refusing or obstructing the supervision and inspection according to law; (3) Failing to use the approved or filed insurance clauses and insurance rates in accordance with regulations.

Article 171 If an insurance company, an insurance asset management company, an insurance professional agency or an insurance broker violates the provisions of this Law, in addition to being punished in accordance with the provisions of Articles 160 to 170 of this Law, the insurance supervision and regulation institution shall give a warning to the directly responsible person in charge and other directly responsible personnel and impose a fine of not less than 10,000 yuan but not more than 100,000 yuan; If the circumstances are serious, the post qualification shall be revoked.