... – Collection of CDD Information/ Documents (Cont’d) 19 Findings: Policyholders’ financial status evidence (e.g. income/ assets proofs) not required for insurance policies reaching a high premium amount (e.g. premium amount threshold set over HKD6M in some cases) Premium threshold set by most insurers only on a...

... their clients to replace their existing policies with those issued by another insurer by misrepresentation, fraudulent or unethical means). Representation of Information – refers to complaints relating to the presentation of an insurance product’s features, policy terms and conditions, premium payment...

... their clients to replace their existing policies with those issued by another insurer by misrepresentation, fraudulent or unethical means). Representation of Information – refers to complaints relating to the presentation of an insurance product’s features, policy terms and conditions, premium payment...

... Dedicated Regime for P&I Insurance Exemptions for P&I Insurers To foster the development of Hong Kong as an international maritime center, the Insurance Authority ("IA") has exempted the premium levy for the marine related (i.e....

...% compared to 68.5% in 2017. The premium growth was mainly driven by the growth in General Liability business followed by Accident & Health business, which reported increments of 22.3% and 9.2% respectively. Other business lines delivered growth between 1.3% and 8.4%. The overall underwriting performance...

...%), accounting for 26.6% of the total new office premiums for individual business.  Among these new policies, about 95% 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...

..., conflict or breach of conduct. Handling Client’s Premiums 4.3 In case where client pays premium through Member, Member should ensure that client’s premium is adequately safeguarded and is properly and promptly accounted for at all times. Disbursement payable to any insurer(s) should be settled in a timely...

... technology (IT) infrastructure, determination of the measurement models (such as general model, premium allocation model, or variable fee model), data storage and management, reporting & disclosure requirements, lack of actuarial support, etc. Optional – you may also supplement the proposed solutions...

... a policy premium with subsequent request to refund the surplus to 3rd party Suspicious Transaction Indicators for Insurance Sector ©Hong Kong Police Force香港警務處版權所有 ©Ho ng K ong Poli ce Fo rce For Trai ning Pur pose s On ly 香港 警務 處版 權所 有 只用 作培 訓用 途 Joint Financial Intelligence Unit Means of Payment...

... a policy premium with subsequent request to refund the surplus to 3rd party Suspicious Transaction Indicators for Insurance Sector ©Hong Kong Police Force香港警務處版權所有 ©Ho ng K ong Poli ce Fo rce For Trai ning Pur pose s On ly 香港 警務 處版 權所 有 只用 作培 訓用 途 Joint Financial Intelligence Unit Means of Payment...