On January 6, according to the administrative penalty decision issued by the Aksu Banking Insurance Regulatory Bureau, China Pacific Property Insurance Co., Ltd. Alar Branch was ordered to make corrections and fined 250,000 yuan for entrusting insurance sales activities to institutions that have not obtained legal qualifications.
After investigation, from October 2019 to March 2020, the company's employees entrusted unqualified personal insurance companies to carry out insurance sales activities and collected agricultural insurance premiums in violation of regulations.
The following is the original text of the administrative penalty decision:
