... year beginning on or after 1 January 2021 onwards. As such, the period from 1 January 2021 to 31 December 2021 is the first financial year to which rule 8(2) of the Broker Rules will apply. Rule 8(2) of the Broker Rules requires a licensed insurance broker company to include the following information...

... relation to RBC requirements. All member supervisors of IAIS, including the IA, are obliged to comply with these new ICPs. The RBC framework seeks to align Hong Kong’s regime with international standards. 2 Q3 What will happen after the consultation exercise? A3 After this consultation exercise, the IA...

... asked to replace your existing policy? Is it solely for your own benefits? (b) Will the protection be continuous without interruption? A new policy usually has a waiting period before its full benefits apply (e.g. suicide is covered normally after a waiting period of one year from the issue date of the...

... asked to replace your existing policy? Is it solely for your own benefits? (b) Will the protection be continuous without interruption? A new policy usually has a waiting period before its full benefits apply (e.g. suicide is covered normally after a waiting period of one year from the issue date of the...

... identified as such. 5. After policy issuance, although the Companies carried out PEP screening of customers, backlogs in screening led to delays in customers being identified as PEPs in a timely manner. The fact that the Companies did not carry out appropriate screening prior to the applications for...

... sure the policyholder experience is as it should be! The need for the prospective customer to make an informed decision CONDUCT IN FOCUS 6 To support the new regulatory regime for licensed insurance intermediaries, the “Corruption Prevention Advisory Service” (CPAS) of the Corruption Prevention...