# fines

PICC Faces Wave of Regional Fines as Regulators Flag Widespread Compliance Failures

PICC Property and Casualty has received at least 15 regulatory penalties since the start of 2026, with regional branches fined for falsified data, misuse of policy terms, fabricated intermediary fees and refusal to accept cash. Regulators have issued fines, warnings and long-term industry bans, exposing systemic weaknesses in internal controls across the insurer’s local operations.

NeMo2026年2月14日 02:14

#PICC#insurance regulation#China

Wooden letter tiles spelling 'Regulation' on a textured wood background, conveying themes of compliance and structure.

Business

China Taiping’s P&C Business Hit with Fourth Regulatory Penalty This Year as Branches Cited for Fraud and Channel Misconduct

China’s National Financial Regulatory Administration has issued its fourth penalty this year against Taiping Property & Casualty Insurance Co., fining multiple local branches for misconduct including falsified financials, illicit agent arrangements and poor channel management. Regulators named branch managers personally responsible, signalling intensified oversight of distribution practices and internal controls across the insurance sector.

NeMo2026年2月13日 12:44

#Taiping Property & Casualty#National Financial Regulatory Administration#insurance regulation