... introduction of a General Insurance (“GI”) qualification system by the Society of Actuaries’ (“SOA”), the IA has decided to accept, with immediate effect, a fellow of SOA GI track with module “Advanced Topics in GI Exam” as an actuarial qualification comparable to the qualifications listed in paragraph 6.11 of...

... introduction of a General Insurance (“GI”) qualification system by the Society of Actuaries’ (“SOA”), the IA has decided to accept, with immediate effect, a fellow of SOA GI track with module “Advanced Topics in GI Exam” as an actuarial qualification comparable to the qualifications listed in paragraph 6.11 of...

... penalty on the regulated person and the penalty amount. The Guideline will take effect upon commencement of regulation of insurance intermediaries by the IA. However, all cases of alleged contravention of applicable rules or requirements that occurred before the commencement date will be...

... the transitional period for existing broker companies to effect the necessary capital injection for one additional year to slightly more than four years. The proposed increase of minimum indemnity limit under PII policy will not be pursued. The IA will submit the two sets of rules to the...

...), taking effect on 23 September 2019 when the statutory regime comes into operation. The MA is responsible for supervising authorized institutions1 (AIs) in accordance with the Banking Ordinance. The IA, under the statutory regime, is responsible for regulation of insurance intermediaries which...

...) (Obsolete from 12 October 2023) Investment-linked Long Term Insurance Examination (2023 Edition) (Effective from 12 October 2023) Travel Insurance Agents Examination With effect from 2 May 2013, the Mandatory Provident Fund (MPF) Schemes Examination ceased to be...

... 21 April 2017. The amendments take effect from 26 June 2017. Please note that the Notice, among others, has added a new sub-paragraph (d) to the definition of “statutory business” under paragraph 1(1), Part 1 of Schedule 3, namely, “(d) the business of insurance against liability described in section...

... provisions of the Insurance Companies (Amendment) Ordinance 2015, the MoUs signed by the former authority continue to have effect after 26 June 2017. List of MoUs signed: Date Counter-party Title...

... Claims Complaints Panel of the ICCB/ICB was/is empowered by its Articles of Association to look beyond the strict interpretation of policy terms in making a ruling. In addition, as far as good insurance practice is concerned, the Complaints Panel relies heavily on the expected standards set out in The...

... Requirements for Banking Sector under Regulatory Regime for Insurance Intermediaries” in October 2019, setting out its views on whether or not persons are carrying on “regulated activity” in certain sector-specific situations. Since the regulatory regime for insurance intermediaries came into effect on 23...