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China Automobile Industry Import and Export Guizhou Company Fined 500,000 Yuan for Providing Policyholders with Benefits Outside Contract Terms
Blue Whale News, March 23 — Recently, the Guizhou Financial Regulatory Bureau issued a fine targeting China Automotive Industry Import and Export Guizhou Co., Ltd. and its then General Manager, Lin Chaohong.
The fine states that the main illegal violation by China Automotive Industry Import and Export Guizhou Co., Ltd. is: providing or promising to provide the insured with benefits beyond those stipulated in the insurance contract.
In response to these violations, the Guizhou Financial Regulatory Bureau fined the company 50,000 yuan; issued a warning to and fined the then General Manager Lin Chaohong 2,000 yuan.