Sales of insurance policies at 7-Eleven illegal: bureau
CNATAIPEI -- Newly launched sales of insurance policies through ibon vending machines at 7-Eleven convenience stores around Taiwan are illegal, the Insurance Bureau said yesterday.
January 5, 2013, 12:06 am TWN
Sales of insurance products must be made by licensed agents, said Tzeng Yu-chiung, the bureau's director-general.
According to media reports, 7-Eleven stores recently began selling car and motorcycle insurance policies issued by Fubon Insurance after setting up an insurance brokerage company with a capitalization of NT$15 million.
The convenience store chain is planning to cooperate with other insurance companies and expand its range of products to travel and home fire insurance in the future, the reports said.