The Financial Supervisory Service (FSS) is intensifying its crackdown on unhealthy insurance sales by general agencies, introducing stricter oversight and new commission rules to protect consumers as South Korea’s insurance market growth slows.
#YonhapInfomax #FinancialSupervisoryService #GeneralAgencies #InsuranceMarket #CommissionReform #ConsumerProtection #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=65924

South Korea's Financial Services Commission will overhaul insurance sales commissions, extending payments up to seven years and applying the 1,200% rule to general agencies to boost policy retention and consumer protection.
#YonhapInfomax #FinancialServicesCommission #InsuranceCommissions #PolicyRetention #GeneralAgencies #1200PercentRule #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=65716

FSS to inspect GAs with data breaches, sets up victim support centers, and urges caution against smishing attempts following personal information leaks from insurance agencies.
#YonhapInfomax #FSS #PersonalDataBreach #GeneralAgencies #OnSiteInspections #VictimSupportCenters #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=63941

Financial Supervisory Service urges General Agencies to enhance internal control systems amid ongoing incidents, emphasizing caution in appointing insurance planners with history of illegal activities
#YonhapInfomax #FinancialSupervisoryService #GeneralAgencies #InternalControl #InsurancePlanners #ComplianceStandards #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=56768

Financial Supervisory Service tightens control over insurance agents with disciplinary records, aiming to prevent repeated violations and enhance consumer protection in the insurance industry.
#YonhapInfomax #FinancialSupervisoryService #InsuranceAgents #DisciplinaryRecords #GeneralAgencies #ConsumerProtection #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=55682

Financial regulators to implement stricter oversight on insurance general agencies with poor sales practices, aiming to enhance risk management in the insurance sector
#YonhapInfomax #InsuranceRegulation #GeneralAgencies #RiskManagement #FinancialSupervisoryService #MisSelling #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=55501

FSS intensifies oversight on General Agencies violating ad review rules, implementing stricter penalties and spot inspections to ensure compliance in insurance sector advertising practices.
#YonhapInfomax #FinancialSupervisoryService #GeneralAgencies #AdvertisingReview #InsuranceRegulations #ComplianceInspections #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=52216