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FSC imposes sanctions on CIGNA Taiwan Life

The FSC, acting accordance with Article 149, Paragraph 1 and Article 171-1, Paragraph 1, Subparagraph 5 of the “Insurance Act,” recently imposed administrative fines totaling NT$2.4 million on CIGNA Taiwan Life Assurance Ltd. and issued the company an official reprimand after a routine examination revealed the following violations of insurance legislation: (a) the company had failed to properly implement its own telemarketing rules regarding product solicitation via telephone; (b) cases in which persons with disabilities had been denied insurance coverage involved failure by the company to properly implement its own underwriting rules; (c) the company had failed to properly carry out broker performance evaluations; and (d) its criteria for the filtering of personal information in email hindered the company’s ability to prevent leaks of personal information.
Visitor: 2051   Update: 2021-03-19