Incar Financial Services, Controversy Over "Advance Support Fund" — Increased Burden on Branch Managers and Unfavorable Clauses
The Financial Supervisory Service (FSS) has initiated a spot inspection of large General Agencies (GAs) ValueMark and Leaders Asset Advisor due to their high rates of incomplete sales. The Financial Supervisory Service (FSS) has initiated a spot inspection of large General Agencies (GAs) ValueMark and Leaders Asset Advisor due to their high rates of incomplete sales. These GAs are being scrutinized for their main products and contract retention rates. This article examines the background and key details surrounding this inspection. The Financial Supervisory Service (FSS) has begun a spot inspection of large General Agencies (GAs) ValueMark and Leaders Asset Advisor. According to the insurance industry, the FSS recently sent a pre-notification of the inspection to the compliance departments of these GAs, with the inspection set to begin on the 28th. As of the end of last year, ValueMark is a large GA with 2,251 agents, reporting an operating income of 136.4 billion KRW and a net income ...