... Renewals 2.4.2 Operation of Cancellation Clauses 3. CLAIMS 3/1 3.1 Valid Claims 3/1 3.1.1 Legal Requirements for Valid Claims 3.1.2 Invalid Claims 3.1.3 Operation of Policy Provisions Affecting Claims 3.1.4 Duties of Insured after a Loss 3.1.5 Documentary Evidence 3.1.6 Functions of Various Related...

... Affecting Claims 3.1.4 Duties of Insured after a Loss 3.1.5 Documentary Evidence 3.1.6 Functions of Various Related Professionals a. Surveyors b. Loss Adjusters c. Engineers d. Settling Agents e. Survey Agents f. Average Adjusters 3.2 Claims Handling 3/10 3.2.1 Operation of Arbitration Clauses 3.2.2 Methods...

...”). The IA issues these Interpretation Notes with the aim of providing further guidance to authorized insurers and licensed insurance intermediaries in respect of the Guideline after consultation with the key stakeholders. The Interpretation Notes are prepared in the form of Frequently Asked Questions to...

... Products” dated September 2020, issued by the HKMA (the “Report”). The MSP was carried out from the second half of 2018 to 2020 by a service provider engaged by the HKMA. With regards to insurance products, the focus of the MSP was on long term business. As regards the sale of insurance products, whilst...

... to unleash synergies to exploit prospects arising from the BRI. The IA is also pursuing a proposal for Hong Kong insurers to set up service centres in the GBA to upgrade the customer experience in the region.  The IA’s other key initiatives of the year included developing a host...

... to submit an application through the IA's Insurtech Sandbox and must obtain the approval of the IA before officially launching the service on a pilot basis to protect the interests of policyholders. The relevant application must comply with the following requirements of the IA...

... Supervisors (IAIS), who will kick off the afternoon session with his keynote speech. There will be four panel discussions pulling together international financial regulators, top industry leaders, academic experts and professional service providers to delve into – (1) advantages of Hong Kong as risk...

... tenancy agreement of the Hong Kong Housing Authority or of the Hong Kong Housing Society or which has been duly stamped by the Inland Revenue Department; (17) In-force contract for a service apartment, with contract period of not less than one year; (18) In-force home insurance policy, where the insured...

... insurance policy or service pledge, which could range from several days to a couple of weeks after policy maturity. Some complaints were identified about late penalty interest being imposed on the customer arising from the turn-around time in disbursement of funds by insurers. ...

... intermediaries continue to possess professional competence and standard in providing advice and service to the policy holders and potential policy holders. CPD Requirements 3. Except for travel insurance agents, their responsible officers and technical representatives (requirements are specified in paragraph 4...