... drive the insurers’ business practices and decisions. 1.3 The risk-based capital regime (“RBC regime”) for Hong Kong’s insurance industry is to comprise of three key components, commonly known as the “Three Pillars”. Pillar 1 covers the regulatory capital rules and requirements; Pillar 2 covers...

... the Pillar 1 (quantitative assessment) and Pillar 3 (disclosure) requirements and related matters under the Risk-based Capital regime and empowers the Insurance Authority (“IA”) to prescribe detailed requirements by way of subsidiary legislation.  Among other things, it also adjusts...

... Agreement also stipulates the implementation procedures of the equivalence assessment, as well as the relevant transitional arrangements, to enhance the co-operation between the two regulatory bodies. The Commissioner of Insurance, Mr John Leung, said, “The insurance industry is an important pillar of the...

... Agreement also stipulates the implementation procedures of the equivalence assessment, as well as the relevant transitional arrangements, to enhance the co-operation between the two regulatory bodies. The Commissioner of Insurance, Mr John Leung, said, “The insurance industry is an important pillar of the...

... Agreement also stipulates the implementation procedures of the equivalence assessment, as well as the relevant transitional arrangements, to enhance the co-operation between the two regulatory bodies. The Commissioner of Insurance, Mr John Leung, said, “The insurance industry is an important pillar of the...

... Agreement also stipulates the implementation procedures of the equivalence assessment, as well as the relevant transitional arrangements, to enhance the co-operation between the two regulatory bodies. The Commissioner of Insurance, Mr John Leung, said, “The insurance industry is an important pillar of the...

... mobile phone loss or damage, but there is normally a restriction on this coverage. For example, some policies cover the repair cost for a damaged screen, but not the loss or theft of a mobile phone, so it depends on the terms of each specific travel insurance plan. Additionlly, insurers will...

... protection for their vehicles. Those who have only third-party liability insurance may have to bear all the costs of repair and replacement in the event of an accident. Similarly, small and medium-sized enterprises will be able to reduce their losses in the event of natural disasters or accidents if they...

... Quantitative Impact Study and are addressing some technical adjustments on 4 Pillar 1 put forward by stakeholders including ASHK to pave way for industry consultation. On Pillar 2, the Guideline on Enterprise Risk Management has taken effect and the first set of Own Risk and Solvency Assessment reports is due...

... it bears, we have completed the third Quantitative Impact Study and are addressing some technical adjustments on Pillar 1 put forward by stakeholders including ASHK to pave way for industry consultation. On Pillar 2, the Guideline on Enterprise Risk Management has taken effect and the first set of...