10 8 Financial Industry News: According to the Administrative Penalty Information Disclosure Table released by the Binzhou Regulatory Branch of the National Financial Regulatory Administration, Zhonghui Life Insurance Company Limited's Binzhou Central Branch was fined 6 million yuan for providing benefits to policyholders beyond those stipulated in the insurance contract and for inadequate training management of agents. Additionally, Li Hailong, former Marketing Head of the branch, was warned and fined 1 million yuan for providing benefits to policyholders beyond the contract terms. Wang Guoqin, former Assistant General Manager of the branch, was also warned and fined 1.3 million yuan for inadequate training management of agents and insufficient oversight of agent conduct.
Fine details:
No. Party Name Penalty Decision No. Main Violations Penalty Content Issuing Authority 1 Zhonghui Life Insurance Co., Ltd. Binzhou Branch Bin Jin Fa Jue Zi [202X] No.37 Providing policyholders with benefits beyond those stipulated in the insurance contract; inadequate training management of agents; insufficient management of agent conduct Fined RMB 6 ten thousand yuan National Financial Regulatory Administration Binzhou Bureau 2 Li Hailong (Marketing Head, Zhonghui Life Insurance Co., Ltd. Binzhou Branch at the time) Bin Jin Fa Jue Zi [202X] No.38 Providing policyholders with benefits beyond those stipulated in the insurance contract Warning and fined RMB 1 ten thousand yuan National Financial Regulatory Administration Binzhou Bureau 3 Wang Guoqin (Assistant General Manager, Zhonghui Life Insurance Co., Ltd. Binzhou Branch at the time) Bin Jin Fa Jue Zi [202X] No.39 Inadequate training management of agents; insufficient management of agent conduct Warning and fined RMB 1.3 ten thousand yuan National Financial Regulatory Administration Binzhou Bureau
