Local media reports that the China Insurance Regulatory Commission has fined MetLife CNY100,000 for irregular telephone sales procedures.<\/p>\n
It is said that in its telephone sales campaign in June this year, MetLife did not mention a number of important points including: the risks involved, the cooling off period, and possible losses resulting from early termination of insurance policies. A recording made during the telesales calls revealed that the company's salespeople did not mention these points when promoting their products to consumers.<\/p>\n
Li Jia, the person in charge of the direct marketing at MetLife, said they had received a penal notice from CIRC and would respect the commission's decision.<\/p>\n
CIRC's records shows that in the first three quarters of this year, CIRC had dispatched 1,305 inspection teams, a total of 5,029 people, to conduct on-site checks of 1,413 insurance companies and branches. The main infractions of these insurance companies included false business expense statements and false policy billing returns.<\/p>\n","protected":false},"excerpt":{"rendered":"
Local media reports that the China Insurance Regulatory Commission has fined MetLife CNY100,000 for irregular telephone sales procedures.<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13],"tags":[3480,288,3483,3478,3482,3481,3479],"class_list":["post-3824","post","type-post","status-publish","format-standard","hentry","category-law-order","tag-circ","tag-insurance","tag-metlife","tag-regulatory-commission","tag-telephone-sales","tag-telesales","tag-watchdog"],"acf":[],"yoast_head":"\n