In April, the insurance industry has been fined more than 180 million yuan in total.

In April of this year, the China Banking and Insurance Regulatory Commission and its branches imposed a total of 18.7267 million yuan in fines on life insurance companies, property insurance companies, insurance intermediaries, and their related responsible persons. Four individuals were banned for life from entering the insurance industry, and one person had their qualifications revoked. According to the regulatory authorities, the violations in the insurance industry mainly focus on providing benefits outside the contract, deceiving policyholders, fabricating or providing false information, fabricating business to misappropriate funds, not using insurance terms or rates as required, and providing inaccurate financial data. The penalties mainly cover financial business data, sales and claims, internal control and compliance, employee behavior management, and corporate governance.