... RMB12,000 from the policy holder. Instead of immediately paying it onto his appointing insurer, however, the agent used the funds to settle his own family affairs. When the agent did eventually issue a cheque to the appointing insurer, the cheque bounced (because the agent had already used the money...

... Draft 12 November 2018 Our Ref: INS/TEC/6/45 To : Chief Executives of all authorized insurers carrying on long term business Dear Sirs, Statements issued by the Financial Action Task Force on Money Laundering (“FATF”) Further to our letter of 18 July 2018, we are writing to inform you of the...

... cir_aml_20190313 13 March 2019 Our Ref: INS/TEC/6/45 To : Chief Executives of all authorized insurers carrying on long term business Dear Sirs, Statements issued by the Financial Action Task Force (“FATF”) Further to our letter of 12 November 2018, we are writing to inform you of the following...

... arrangement or renews or varies an existing outsourcing arrangement, it should re- perform such assessment regularly. Service Provider 5.8. An authorized insurer should exercise due diligence and care and consider factors such as aggregate exposure to that particular service provider, possible conflict of...

... interest bearing facilities offered by institutions duly authorised under the Banking Ordinance, any of such institutions' overseas branches or any bank which would be an "exempted person" for the purpose of paragraph 8 of Schedule I to the Money Lenders Ordinance, each of which shall be designated as a...

... 3.4.7 Policy Provisions Preventing Indemnity 3.4.8 Policy Provisions Providing More Than Indemnity 3.4.9 The Practical Problems with Indemnity 3.5 Contribution 3/15 3.5.1 Equitable Doctrine of Contribution 3.5.2 Rateable Proportions 3.5.3 How Arising 3.5.4 How Applicable 3.5.5 How Amended by Policy...

...”) Requirements – CPD Compliance Reporting Procedures for Assessment Periods 2019/20 and 2020/21 As you will know from our circulars dated 12 June 2020 and 30 September 2020, the Insurance Authority (“IA”) has merged the CPD assessment period for 23 September 2019 to 31 July 2020 (“the First Assessment Period...

...”) Requirements – CPD Compliance Reporting Procedures for Assessment Periods 2019/20 and 2020/21 As you will know from our circulars dated 12 June 2020 and 30 September 2020, the Insurance Authority (“IA”) has merged the CPD assessment period for 23 September 2019 to 31 July 2020 (“the First Assessment Period...