..., and procure client to acknowledge receipt thereof in writing and such written acknowledgment should be kept in the client file. Member is also recommended to explain to client in writing the type of services being or to be provided or offered. 7.2 Member should take reasonable steps to ensure that all...

... differentiation, a specific set of Important Facts Statement must be prepared for this purpose and must be used for business introduced from this type of intermediary. For the avoidance of doubt, however, Member Companies must still follow the requirement under 7.8 of the GN15 during the underwriting process for...

... entering into a new material outsourcing arrangement or significantly varying an existing one, the insurer should within 30 days submit to the IA information relating to the arrangement. The information to be submitted includes: (a) the service outsourced; 15 (b) the name of the service provider; (c) the...

... control of the regulated activities of an agency or a broker company, the IA will take a “substance over form” approach to seek to understand the actual role played by the director in the agency or broker company. The type of factors and questions the IA will consider in this respect are set out below: 2...

... director. In considering whether or not a director is involved in the management or control of the regulated activities of an agency or a broker company, the IA will take a “substance over form” approach to seek to understand the actual role played by the director in the agency or broker company. The type...

... Draft Guideline on Enterprise Risk Management GUIDELINE ON ENTERPRISE RISK MANAGEMENT Insurance Authority Table of Contents Page 1. Introduction 1 2. Application 2 3. Overview of Enterprise Risk Management (ERM) Framework and General Requirements 4 4. Governance 7 5. Risk Appetite Statement 10 6. E...