Sep 29, 2009 06:34 PM

Cigna & CMC Life Fined for Misleading Sales Tactics

(.com.cn) The China Insurance Regulatory Commission fined Cigna & CMC Life Insurance Co. 100,000 yuan for its misleading sales tactics, the regulator said in a press release on Sept. 28.

The firm is a joint venture between China Merchants Group and U.S.-based Cigna Corp. (NYSE: CI).

The CIRC said the company's salespeople violated China's insurance law by giving falsified accounts when replying to customer's questions about payments and contract periods.

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