On 6 May, the Board of Governors disclosed several tickets, and the American Property Insurance Company (hereinafter referred to as “the American Aesthetic Insurance”) was revamped and warned of four violations, the company was punished by $7.1 million, and the responsible persons were punished by $1.1 million, totalling $8.2 million.

During the period 2019 to 2021, the following irregularities were identified: 1. Failure to apply the applicable insurance provisions, insurance rates; 2. Provision of false documentary information; 3. Violations of the internal control and risk management system; and 4. Failure to comply with the notification obligation for short-term health insurance.

The ticket shows that in November 2021, Xuyong was directly responsible for providing false documentary information in the aesthetic insurance; between August 2020 and August 2021, the flower was directly responsible for the failure of the aesthetic insurance provisions and insurance rates. The Shanghai Board decided to warn of God and to impose a penalty of 40,000 yuan renminbi; to warn of mattresses and to impose a penalty of 70,000 yuan renminbi. (Blue whale insurance lidanping@lanjinger.com)