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Cathay Century Insurance Co., Ltd. was fined

When carrying out the financial inspection of ordinary businesses, the FSC found that Cathay Century Insurance had violated regulations by failing to establish a confirmation method for the willingness of policyholders to renew residential fire and earthquake fundamental insurance, failing to issued policy according to the direct selling premium rate when handling direct business insurance renewal of compulsory automobile liability insurance, etc. The FSC thus imposed a fine of NT$3.6 million and issued 2reprimands on the company in accordance with Article 149 and Paragraphs 4 and 5 of Article 171-1 of the Insurance Act and Paragraph 3 of Article 48 of the Compulsory Automobile Liability Insurance Act.
Visitor: 869   Update: 2020-10-27
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