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⏭... for the insurer; (v) Limitation of premium income – The IA may require an authorized insurer to take all such steps as are requisite to secure that the aggregate of the premiums to be received by the insurer in consideration of the undertaking by it during a specified period of liabilities in the...
https://www.ia.org.hk/english/legislative_framework/circulars/reg_matters/files/Cir_Insurers_dd_18122020.pdf -
Date: 2020-12-21
... – 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...
https://www.ia.org.hk/english/supervision/antimoney_laundering/files/IA_AML_findings_briefing_20180531.pdf -
Date: 2021-11-12
... – 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...
https://www.ia.org.hk/english/supervision/antimoney_laundering/files/IA_AML_findings_briefing_20180531.pdf -
Date: 2022-04-27
... is higher than the range of brokerage customarily paid for the particular class of insurance. Page 2 of 2 3. Upon the client’s request, the licensed insurance broker company should disclose to the client, to the best of its knowledge, the maximum percentage of the premium paid (or to be paid) as...
https://www.ia.org.hk/english/legislative_framework/circulars/reg_matters/files/Practice_note_on_Remuneration_Disclosure.pdf -
Date: 2020-06-15
... is higher than the range of brokerage customarily paid for the particular class of insurance. Page 2 of 2 3. Upon the client’s request, the licensed insurance broker company should disclose to the client, to the best of its knowledge, the maximum percentage of the premium paid (or to be paid) as...
https://www.ia.org.hk/english/legislative_framework/circulars/reg_matters/files/Practice_note_on_Remuneration_Disclosure.pdf -
Date: 2020-12-21
... – 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...
https://www.ia.org.hk/english/supervision/antimoney_laundering/files/IA_AML_findings_briefing_20180531.pdf -
Date: 2019-11-05
... the person actively assists a potential policy holder to complete an application for insurance and sends it to an insurer. The IA also takes the view that if premium is being charged and collected by a person specifically for the purpose of effecting a contract of insurance, then the person involved...
https://www.ia.org.hk/english/legislative_framework/circulars/reg_matters/files/Explanatory_Note_on_Regulated_Activities.pdf -
Date: 2021-12-10
... the person actively assists a potential policy holder to complete an application for insurance and sends it to an insurer. The IA also takes the view that if premium is being charged and collected by a person specifically for the purpose of effecting a contract of insurance, then the person involved...
https://www.ia.org.hk/english/legislative_framework/files/Explanatory_Note_on_Regulated_Activities.pdf -
Date: 2021-10-12
...%), 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...
https://www.ia.org.hk/english/infocenter/press_releases/Insurance_Authority_releases_provisional_statistics_of_Hong_Kong_insurance_industry_in_the_first_half_of_2018.html -
Date: 2021-09-03
[PDF]
ENG_CIF_3.pdf
... 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...
https://www.ia.org.hk/english/infocenter/files/ENG_CIF_3.pdf -
Date: 2021-12-14