... holders. “The RBC regime seeks to strengthen the financial soundness of insurers and put Hong Kong on a par with international standards, consolidating Hong Kong’s function as an international risk management centre,” an IA spokesperson said. “Adopting the RBC regime will...

... Explanatory Note on “Regulated Activity” under the Insurance Ordinance (Cap. 41) 12 October 2021 Our Ref: MC/INT/5 By Email To: Chief Executives of all Authorized Insurers, Responsible Officers of all Licensed Insurance Broker Companies and Responsible Officers of all Licensed Insurance Agencies...

... the determination of PCR, there are mixed views on the inclusion of one year’s forecast of new business in the calibration of PCR, with concerns over the subjectivity and practicalities involved in calculations and thus comparability across insurers. However, it should be noted that ICP1 17.6.3...

...;building structure” under the fire insurance policy. It turned out that Mrs. Chan had replaced the window with a new one when she renovated her flat two years earlier, so the window was considered to be an “interior decoration”. Mrs. Chan had not purchased any home insurance, so the cost...

... international financial system. Further, the FATF has serious concerns with the threat posed by the DPRK’s illicit activities related to the proliferation of weapons of mass destruction (“WMD”) and its financing. The FATF calls on its members and urges other jurisdictions to apply effective counter-measures and...

... capacity of the Alt. CE will be reverted back to “Technical Representative” and the matter of non-compliance by the Member with Membership Regulation 7.5 will be referred, without further notice on the expiry date of the 6-month period, to the Disciplinary Committee for attention. 6. Other Requirements of...

... IA”) may impose on a person a pecuniary penalty either on its own or together with other disciplinary sanctions under section 81(4) if: (a) the person is, or was at any time, guilty of misconduct when the person is a regulated person; (b) the person was at any time guilty of misconduct when the...

... IA”) may impose on a person a pecuniary penalty either on its own or together with other disciplinary sanctions under section 81(4) if: (a) the person is, or was at any time, guilty of misconduct when the person is a regulated person; (b) the person was at any time guilty of misconduct when the...

... IA”) may impose on a person a pecuniary penalty either on its own or together with other disciplinary sanctions under section 81(4) if: (a) the person is, or was at any time, guilty of misconduct when the person is a regulated person; (b) the person was at any time guilty of misconduct when the...

... with information on channels and procedures for making complaints. If you are dissatisfied with the way in which your insurer has handled your application or claim, or with its claims decision, you can lodge a complaint through any of the channels provided by your insurer. For claims-related...