The Financial Supervisory Service sanctions Shinhan, Kyobo and Hanwha Life Insurance for "providing money and valuables and paying insurance premiums";

Reporter Paul Lee / approved : 2023-05-08 02:16:36
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This article is translated by AI company Flitto and Alhpa Biz neural machine translation technology
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[Alpha Biz=(Chicago) Reporter Paul Lee] According to the financial sector on the 5th, the Financial Supervisory Service imposed sanctions on three companies, including Shinhan Life Insurance, Kyobo Life Insurance and Hanwha Life Insurance, including the suspension of five designers for 30 days and a fine of 1.4 million won.

According to the Financial Supervisory Service, Shinhan Life Insurance's designer paid a gas gift certificate worth 100,000 won to the contractor in return for signing an insurance policy in February 2018. Another designer of Shinhan Life Insurance Co. reportedly provided 400,000 won worth of gift certificates to the contractor after recruiting two insurance contracts in November 2019.

In the case of Kyobo Life Insurance, a designer paid a total of 1.35 million won in insurance premiums by transferring money to the policyholder's account in February 2021.

A planner affiliated with Hanwha Life Insurance was found to have violated the "ban on the signing or recruitment of insurance contracts" by signing the subscription form without receiving the contractor's own signature in the process of recruiting insurance contracts in December 2017.

The deviation of small and medium-sized insurance companies, not such large insurance companies, was even greater. A designer at KA Asset was found to have pocketed 34.8 million won in recruitment fees after raising his performance after processing a life insurance contract recruited in January 2015 to have been recruited by another designer from the same GA.

 

Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)

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