... policy holders 11 Pillar 2 – Qualitative Requirements Own Risk and Solvency Assessment (ORSA) • ORSA is central to insurers ERM framework: • Allows the Board and Senior management to anticipate the key risks and capital needs from a prospective view • Continuity analyses and Stress Scenarios (plausible...

... technical specifications and templates for QIS 2. QIS 2 is an important step for the Insurance Authority (IA) to have a holistic view of the solvency position of individual insurers and of the industry as a whole. This would form a basis for the IA to moving forward to the next step of moderation exercise...

... deficiencies of its offshore banking sector. Accordingly, you should continue to apply the counter-measures against Nauru as set out in my letter of 10 December 2001. The Philippines In view of the inadequate progress made by the Philippines to enact legislation to address previously...

... Annex 3 to GL24 for the exact number of CPD hours required for the first CPD Assessment Period. Impact of Coronavirus Outbreak In view of the recent coronavirus outbreak, many CPD activities have been either cancelled or postponed since late January this year. The IA is fully aware that individual...

... Annex 3 to GL24 for the exact number of CPD hours required for the first CPD Assessment Period. Impact of Coronavirus Outbreak In view of the recent coronavirus outbreak, many CPD activities have been either cancelled or postponed since late January this year. The IA is fully aware that individual...

... a statutory licensing regime within two years, to provide more comprehensive protection for policy holders. The Insurance Ordinance empowers the IA to collect a premium levy from policy holders, authorization fees from insurance companies and fees from users for specific services, with a view to...

... retailers, who have suffered enormous losses due to the sudden adverse weather events. In view of this, the IA issued a circular to the industry reminding insurers that they should treat customers fairly, process claims applications in a prompt and transparent manner in accordance with the policy terms and...

... Nauru due to its failure to address the deficiencies of its offshore banking sector. Accordingly, you should continue to apply the counter-measures against Nauru as set out in my letter of 10 December 2001.    The Philippines In view of the inadequate progress...

... transactions with persons, including companies and financial institutions, from the above NCCTs. This is in addition to the requirements set out in the Guidance Note on Prevention of Money Laundering issued by the Insurance Authority. In view of the inadequate progress made by Nauru, the Philippines...

... requirements in GL26. Whilst GL26 does not have the force of law, in the sense that it is not subsidiary legislation and should not be interpreted in a way that would override any provision of law, a non-compliance with its requirements may reflect on the IA’s view of the continued fitness and properness of (i...