Suspicious Indicators in the Insurance Business

Based on Clause 4, Article 22 of the 2012 Anti-Money Laundering Law, regulations on suspicious indicators in the insurance business sector include:

- The customer requests to purchase a high-value insurance contract or requests to pay the full insurance fee in one installment for insurance products that do not apply lump-sum payment, whereas the customer's current insurance contracts only have small values and periodic payments;

- The customer requests to sign an insurance contract with periodic insurance fees that are not in accordance with the customer's current income or requests to purchase an insurance contract related to business activities outside the customer's usual business operations;

- The purchaser of the insurance contract and payment is made from an account that is not their own or by means of anonymous negotiable instruments;

- The customer requests to change the designated beneficiary to one who has no clear relationship with the purchaser of the insurance contract;

- The customer accepts all unfavorable terms unrelated to their age or health; the customer proposes to purchase insurance for unclear purposes and is reluctant to provide reasons for joining the insurance; the conditions and value of the insurance contract conflict with the customer's actual needs;

- The customer cancels the insurance contract immediately after purchase and requests the money to be transferred to a third party; the customer frequently participates in insurance and transfers the insurance contract to third parties;

- The customer is an enterprise with an unusually large number of insurance contracts for employees or the single-premium insurance contract fee increases abnormally;

- The insurance company frequently disburses large amounts of insurance money to the same customer.

The above are the regulations on suspicious indicators in the insurance business sector.

Sincerely!