On August 7, the Beijing Financial Regulatory Bureau mandated that all insurance entities launch immediate self-inspection and rectification efforts, with a key focus on the management of their internet marketing accounts.

The bureau released a notice detailing the requirements for compliance checks on insurance firms' online marketing accounts, along with a corresponding rectification checklist. The notice highlighted that while the internet has become a vital channel for insurance companies to promote products and services, many firms have weak oversight of their online marketing, leading to issues such as account leasing, misleading promotions, and frequent compliance violations.

Entities required to conduct this self-inspection include Beijing-based corporate insurers and their branches nationwide, all insurance company branches in Beijing, professional insurance intermediary legal entities in Beijing and their branches across the country, as well as branches of out-of-town professional insurance intermediaries operating in Beijing. The scope of accounts to be reviewed includes those opened on social media platforms outside of the firms' own official websites, such as Weibo, WeChat Video Accounts, Douyin, Kuaishou, and Xiaohongshu, using the name of the institution or its branch.

The notice stipulates that all insurance institutions must immediately and thoroughly conduct self-inspections. Key areas of focus include the opening of internet marketing accounts: whether the account opening underwent internal company approval, whether the account is verified by the platform (e.g., through a blue V badge), whether the institution opening the account actually has a legitimate need for internet marketing, and whether any other organization or individual has opened an account under the institution's name without authorization.

The bureau also emphasized that corporate legal entities must take on the primary responsibility by organizing and deploying these self-inspection and rectification tasks. They are required to designate a responsible department to oversee the work for the company and all its subordinate branches. Provincial-level branches must appoint specific personnel to implement the requirements and lead the self-inspection efforts for all branches under their jurisdiction. Institutions should use this opportunity to comprehensively review all accounts they have opened on various internet platforms. Any accounts that do not meet regulatory requirements, internal company policies, have no marketing need, or were opened without authorization must be immediately rectified, with measures including corrective action within a specified time, account closure, or legal recourse.

This move follows a recent investigative report in June that uncovered a widespread issue of counterfeit insurance accounts. The report, which involved a months-long investigation of nearly 10,000 insurance-related accounts, found that a number of accounts certified as branches of insurance companies had their IP addresses collectively shifted to Hong Kong, Macau, or overseas. These accounts were found to be promoting cross-border insurance comparisons and guides to purchasing overseas policies. Upon private messaging, the account operators would send links to foreign insurance products, despite their profiles listing them as "insurance brokers." The investigation suggested that accounts had been rented or were being rented out by more than a dozen insurance companies, spanning both large and medium-sized firms, including bank-affiliated insurers and newly established companies formed after years of risk resolution.