Core Viewpoint - The China Earth Property Insurance Company, specifically its Weng'an branch, has been penalized for providing illegal rebates and benefits to policyholders, highlighting regulatory scrutiny in the insurance sector [2][4]. Summary by Sections Administrative Penalties - The Weng'an branch of China Earth Property Insurance was fined 120,000 yuan for offering rebates or other benefits outside of the insurance contract terms [2]. - Individual penalties were also imposed: Wang Ning (former car dealer client manager) received a warning and a fine of 40,000 yuan, Wang Yuting (former agent) was warned and fined 8,000 yuan, and Fei Tao (former manager) was warned and fined 40,000 yuan [2][3]. Company Background - China Earth Property Insurance was established on October 20, 2003, in Shanghai, with a registered capital of 15.115918986 billion yuan [4]. - The company operates 39 branches, 1 business office, and 2 operational centers, with a total of over 2,100 service locations and approximately 46,000 employees nationwide [4]. Regulatory Issues - A prior inspection by the China Banking and Insurance Regulatory Commission from May to July 2023 identified several compliance issues, including the use of unapproved insurance terms and inaccurate financial data from 2022 to March 2023 [4].
给予投保人合同外保险费回扣，中国大地保险一分支机构被罚12万元