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⏭... Insurance Authority revokes insurance agent’s licence and imposes 11-month ban for misconduct in handling client’s premium 27 January 2023 The Insurance Authority (IA) has taken disciplinary action against an insurance agent by revoking...
https://www.ia.org.hk/english/infocenter/press_releases/20230127.html -
Date: 2023-01-27
... offer an amount which varies over the policy term. Premium payment ▶ The premium remains the same over the term, but may increase with age upon renewal. ▶ Generally, it can be paid annually, monthly, quarterly or half-yearly. Who should consider it? ▶ Young people with limited financial means....
https://www.ia.org.hk/english/infocenter/files/Understanding_Life_Insurance_Eng.pdf -
Date: 2021-12-14
[HTML]
Levy on Insurance Premium
... ...
https://www.ia.org.hk/english/infocenter/faqs/faqs_levy.html -
Date: 2017-10-12
... Insurance Authority – Briefing Session on 21 July 2017 31 July 2017 1 Bullet points of major principles/concepts for premium levy collection: Deduct levy (together with premium) by auto-pay Need policy holder consent, e.g. notify policy holder of the “default option” and allow opt out in...
https://www.ia.org.hk/english/portal_for_insurers/lisa/files/Principles_ConceptsforPremiumLevyCollectionpw.pdf -
Date: 2019-10-23
... appointment as a new Non-Executive Director (NED) of the IA and the seven incumbent NEDs on their reappointments: Mr Samuel Chan Ka-yan, Professor Chan Wai-sum, Ms Chitty Cheung Fung-ting, Mr Kenneth Kwok Tsun-wa, Mr Ma Ho-fai, Mr James Wong Chien-kuo and Mr Stephen Yiu Kin-wah. Established in...
https://www.ia.org.hk/english/infocenter/press_releases/20181221.html -
Date: 2018-12-21
[HTML]
Introduction
... Decoding Premium Financing and its Risks What is Premium Financing? Premium financing is an insurance funding arrangement whereby a policy holder borrows funds from a financial institution (usually a bank) to pay the premium of a new insurance policy...
https://www.ia.org.hk/english/premium_financing/index.html -
Date: 2024-01-18
... Supervisory standards and requirements When carrying on business involving the use of premium financing, insurers and insurance intermediaries must comply with the Guideline on Underwriting Long Term Insurance Business (other than Class C Business) (GL16...
https://www.ia.org.hk/english/premium_financing/supervisory_standards_and_requirements.html -
Date: 2024-01-18
... Note on Collection of Levy on Insurance Premium (Version 1.6) Page 1 INSURANCE AUTHORITY Note on Collection of Levy on Insurance Premium (the “Note”) Revised – March 2018 INTRODUCTION The Insurance (Levy) Order (the “Order”) specifies the prescribed classes of insurance business and types of...
https://www.ia.org.hk/english/portal_for_insurers/lisa/files/Notes_on_collection_of_Levy_on_Insurance_Premiumv2.pdf -
Date: 2019-10-23
... objectives, and evaluate your protection needs and financial situation. Compare the products offered by different insurers that are similar in nature, in terms of coverage, sum insured and premium level, so that you can choose one that best suits your needs. To protect the interests of existing and potential...
https://www.ia.org.hk/english/infocenter/files/Understanding_Life_Insurance_Eng.pdf -
Date: 2022-05-24
[PDF]
Circular_01042022.pdf
... Circular on the supervisory standards and key requirements on the use of premium financing to take out long term insurance policies /….. 1 April 2022 Our Ref: INS/TEC/9/2/2/26 To: Chief Executives of authorized insurers carrying on long term business and responsible officers of licensed insurance...
https://www.ia.org.hk/english/legislative_framework/circulars/reg_matters/files/Circular_01042022.pdf -
Date: 2022-05-31