What is a bootleg offshore policy？
A bootleg offshore policy is an insurance product that is being offered for sale in Taiwan without having been approved by Taiwan’s regulator. While some of these offshore policies may be issued by insurers permitted to conduct business in other jurisdiction, some may be illegal policies, which have not been approved by any insurance regulators. According to the insurance law, sales of bootleg offshore policy has been changed from administrative penalty to criminal penalties.
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Update：
2017-06-29