..., the insurer may reject claims on the ground of non-disclosure or misrepresentation of material facts, whether or not the facts relate to the illness that generated the claim. Apply Early An applicant’s age, habits of smoking or heavy drinking, health condition and medical history are all important...

... Understanding Medical Insurance Tips on applying for insurance 1. Apply early An applicant’s age, habits of smoking or heavy drinking, health condition and medical history are all important factors considered by insurers when...

... talks about the importance of insurance intermediaries advising their customers to disclose medical conditions when buying insurance policies to avoid any uncertainties at claim stage. This is also the subject of our Policyholder Corner section, in which we remind prospective policyholders of their duty...

... risk of money laundering or terrorist financing (as required section 15 of Schedule 2 to AMLO). Annual reviews of high risk customers 12. Section 5 of Schedule 2 to AMLO stipulated a financial institution’s duty to monitor business relationships with customers. Pursuant to section 5(1)(a) of Schedule 2...

... Showcasing the social value of insurance amid severe weather events 17 September 2023 Over the past two weeks, various sectors in Hong Kong have been busy dealing with the aftermath of a typhoon and a heavy rainstorm. The insurance industry is no...

... complexities and risks of premium financing March 2022 Issue 4 How should insurers handle complaints? Advising client on the duty of disclosure The importance of...

... an insurance contract pertaining to any person with an address or residence in Japan unless a prior permission is obtained from the FSA. Otherwise, the person who fails to obtain the permission may be subject to a fine of not more than 500,000 yen under Article 337 of the Act. 2. Under “duty of care...

... of the Board, the Controller and the Appointed Actuary 4.1 It is the duty of the Controller, as specified under section 13A(12) of the Ordinance, to ensure that requirements set out in this Guideline and the relevant ICPs are observed throughout the life cycle of all long term (except Class C...

... bushfires, parching droughts and drenching precipitation have become regular occurrences,” said Dr Moses Cheng, Chairman of the IA, in the opening speech. “Apart from diligently fulfilling the duty to act as good corporate citizens, the insurance industry does have a multiple role to play as...