... Premium levy rate to be adjusted to 0.085% on 1 April 2020 31 March 2020 In accordance with the schedule set out in the Insurance (Levy) Order under the Insurance Ordinance (Cap. 41), starting from tomorrow (1 April 2020), the premium levy rate will...

... Premium levy rate to be adjusted on 1 April 2019 31 March 2019 In accordance with the schedule set out in the Insurance (Levy) Order under the Insurance Ordinance (Cap. 41), starting from tomorrow (1 April 2019), the premium levy rate will be...

... respect of the new supervisory framework for multinational insurance groups (GWS framework), tentatively to be implemented in the first quarter of 2021. The main objective of the proposed Group Capital Rules is to set out the requirements in relation to capital, regulatory reporting and public...

... third party traffic accident victim (or his/her dependants) who suffers bodily injury or death but is unable to obtain compensation because the driver is uninsured or untraceable. As a result of the legislative changes in 1995 whereby insurance policies are allowed to set a limit on third party...

... Implementation of New Regulatory Regime for Insurance Intermediaries Introduction Currently, insurance intermediaries are regulated by three Self-Regulatory Organizations (“SROs”), namely the Insurance Agents Registration Board set up by The...

... Self-Regulatory Organisations (SROs)1. Under the new statutory regime, the two codes of conduct will specify fundamental conduct requirements expected of them. The draft Codes of Conduct set out eight core General Principles, under which standards and practices are elaborated. When formulating these...

... Ordinance (Cap. 41) (“the Ordinance”). Under the Ordinance, the Insurance Authority (“IA”) has the primary responsibility of ensuring that an authorized insurer is able to meet its liabilities or fulfil the reasonable expectations of policy holders. Adequacy of the technical reserves set aside by an...

...://www.gld.gov.hk/egazette/ http://www.ia.org.hk/ - 2 - (2) Frequently Asked Questions A new set of frequently asked questions (“FAQs”) in relation to anti-money laundering and counter-terrorist financing (“AML/CFT”) is published by the Insurance Authority today. The FAQs published on 15 April 2019 are superseded...

... specified in the Insurance (Financial and Other Requirements for Licensed Insurance Broker Companies) Rules (“Broker Rules”) made under the Insurance Ordinance (Cap.41) (“IO”).  The Broker Rules set out the requirements in relation to the following aspects...

... insurance agency which appoints a licensed technical representative (agent); and (d) A licensed insurance broker company which appoints a licensed technical representative (broker). 1.4 A failure to comply with any CPD requirements set out in this Guideline by a person listed above may adversely affect the...