Citibank Taiwan is found to have the following deficiencies in its insurance agency business – in a sales solicited by phone, failure to meet the additional insured in person for signature; in a borrower residential fire insurance case, increasing the coverage without obtaining the consent of the applicant; when a policyholder purchases the policy with a loan, the solicitor did not describe accurately the source of premium in the solicitor’s report; failure to cancel the registration of a solicitor within 5 days after the solicitor departs. The FSC orders the company to take corrective action on three items within one month, imposes a fine of NT$400,000 and issues an official reprimand in accordance with Paragraph 1, Article 164-1, and Articles 167-2 and 167-3 of the Insurance Act on September 16, 2019. For further information please refer to the website of the Insurance Bureau in Chinese version.