[Apha Biz=(Chicago) Reporter Paul Lee] A number of insurance agents (GA) and insurance planners have been caught illegally paying fees or failing to properly inform customers of the contents of their products while selling insurance.

According to the insurance industry on the 2nd, the Financial Supervisory Service recently imposed fines on one insurance agency and a total of 284.8 million won on 10 insurance agencies for violating regulations banning the payment of fees or detecting cases of violations regarding the recruitment of insurance contracts.

Thirty-five insurance planners at these agencies were notified of a 30-day suspension or fines of up to 5.6 million won, while four executives of insurance agencies received reprimand warnings or cautionary warnings.

The Financial Supervisory Service has been caught in a number of cases of 'transit contracts' using the names of other recruiters. The Insurance Business Act prohibits the recruitment of insurance contracts using the names of other insurance recruiters. This is because in the event of an insurance contract-related dispute, the responsibility can be ambiguous and the customer's personal information can be passed on to other designers without permission.

The insurance agency, which is the J & District Court, provided a total of 270 million won to people other than their insurance planners in connection with the recruitment of 1,183 life insurance contracts, including universal life insurance, from August 2018 to March 2021.

Twelve insurance planners of this agency recruited life insurance contracts from July 2018 to July 2020 and informed customers of the contents of insurance products differently from the facts.

The Best Financial Services Agency paid 148.3 million won in recruitment fees to others in connection with 4,352 insurance applications, including driver insurance, from March 2019 to March 2021.

The In4U Financial Services Agency also paid 378.8 million won in recruitment fees to others, not insurance planners, in connection with the recruitment of 2,885 insurance contracts, including loss medical insurance, in 2020. Valuemark also paid 10.9 million won in fees to others for 11 insurance contracts, including pension insurance, from Aug. 10, 2007 to June 25, 2018.

The insurance planner, who belonged to the Aplus AirAdvisor agency, paid 3.5 million won in recruitment fees to others in the process of recruiting 19 contracts, including guarantee insurance, in 2018. Insurance planners at the KMI Asset agency also paid 22.5 million won in recruitment fees to others in connection with 41 contracts, including injury insurance, from July 2018 to June 2019.

An insurance planner at SkyBlue Asset's agency prevented customers from informing the insurer of important matters while recruiting two insurance policies, including health insurance, in 2019.

Designers who provided bribes to contractors in return for insurance were also caught.

Two insurance planners at the iFA insurance agency raised 10 insurance contracts, including dental insurance, from 2018 to 2020, offering 2 million won in cash to nine customers as special profits. Four designers from Leaders Asset Advisor transferred 1.8 million won to 40 contractors in connection with the recruitment of 41 insurance contracts, including children's insurance, between May and November 2020.

 

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