... conclusions on two sets of rules for implementation of the new statutory regulatory regime for insurance intermediaries. The first set of rules, the Insurance (Maximum Number of Authorized Insurers) Rules, stipulate a cap on the number of insurers which a licensed individual insurance agent or...

... strengths of Hong Kong’s captive insurance market, and the latest initiatives to enhance the business environment and create a new insurance ecosystem to support the operation of captives in Hong Kong. The aim is to build Hong Kong into the ideal global domicile for captives, an international risk...

... strengths of Hong Kong’s captive insurance market, and the latest initiatives to enhance the business environment and create a new insurance ecosystem to support the operation of captives in Hong Kong. The aim is to build Hong Kong into the ideal global domicile for captives, an international risk...

... Insurance Authority (“IA”) has today issued a set of Interpretation Notes for Module C of the Guideline on Group Supervision to supplement the guidance provided to designated insurance holdings companies in Module C of the Guideline on Group Supervision (“GL32”) on the Insurance (Group Capital) Rules (Cap....

... 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...