Competition to sell 'CEO Insurance' is overheating...Tens of millions of won in fees for children.

Competition for the sale of regular insurance for managers, called "CEO, CEO Insurance," has even been caught giving tens of millions of won worth of recruitment fees to the CEO's children.

The Financial Supervisory Service has decided to confirm such misconduct in the process of selling managerial regular insurance and impose the maximum level of sanctions allowed by law.

On-site inspections of four insurance agencies selling the insurance revealed that 179 people who were not eligible received fees.

The amount of fees they collected amounted to 7.2 billion won.

An agency was found to have induced the CEO of a small business to sign up for insurance by registering his child as an architect and then actually handed over 45 million won in recruitment fees to the child.

The Financial Supervisory Service plans to continue to check insurers and agencies that have a high proportion of individual sales or a high possibility of arbitrage transactions.