... that the Complaints Panel of the ICCB is empowered by the Articles of Association of the ICCB to look beyond the strict interpretation of policy terms in making a ruling. In addition, as far as good insurance practice is concerned, the Complaints Panel relies heavily on the expected standards set out...

... other than 12 months, “gross premium income” has to be annualized in the manner as set out in the definition of “adjusted gross premium income” in rule 2 of the Rules before applying the above specified percentages. 5.25 “Gross premiums receivable” is defined in rule 2 of the Rules. “Gross premiums...

... sale but becomes relevant after policy issuance, insurers should determine whether policyholders should be informed or not with due regard to the situation and materiality of the risk involved. - 2 - Q 5. Section 6.8 specifies that for policies to be used as collateral assignment (e.g. for premium...

... 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...

... for 26.4% of the total new office premiums for individual business. Among these new policies, about 97% were medical or protective in nature, such as critical illness, medical, whole life, term life and annuity products. In terms of premium payment pattern, about 99% of the policies were paid at...

... insured event has occurred, no claims will be accepted. The coverage, benefit limit, exclusions and premium levels of travel insurance products offered by insurers vary. Travellers must understand the policy details and the terms and conditions clearly before taking out a policy and choose a...

... Property Damage business resulting from the absence of any major typhoons. As at 31 December 2019, gross and net claims incurred by authorized insurers due to the social events were HK$1,292 million and HK$411 million respectively. Premium growth was mainly driven by the growth in Property Damage business...

... from a premium levy, authorization charges and intermediary licensing fees, the IA is compelled to be customer-oriented and 1 Mr. Bhabani Sankar Rath, Chairman of The Hong Kong Confederation of Insurance Brokers 2 Mr Adrian King, Honorary Secretary of The Hong Kong Confederation of Insurance Brokers 2...

... from a premium levy, authorization charges and intermediary licensing fees, the IA is compelled to be customer-oriented and 1 Mr. Bhabani Sankar Rath, Chairman of The Hong Kong Confederation of Insurance Brokers 2 Mr Adrian King, Honorary Secretary of The Hong Kong Confederation of Insurance Brokers 2...

... from a premium levy, authorization charges and intermediary licensing fees, the IA is compelled to be customer-oriented and 1 Mr. Bhabani Sankar Rath, Chairman of The Hong Kong Confederation of Insurance Brokers 2 Mr Adrian King, Honorary Secretary of The Hong Kong Confederation of Insurance Brokers 2...