... complainant and the insurer and/or intermediary, for example a dispute regarding the non-payment of a claim under an insurance policy, the IA’s power to handle the complaint is limited, as it does not have power to intervene or adjudicate the dispute or require the claim to be paid. III. Functions of the ICB...

... complaint to:  Insurance Agents Registration Board (Address: 29/F., Sunshine Plaza, 353 Lockhart Road, Wanchai, Hong Kong; Tel: 2520 1868; Fax: 2520 1967);  The Hong Kong Confederation of Insurance Brokers (Address: Room 3407, AIA Tower, 183 Electric Road, Fortress Hill, Hong Kong; Tel: 2882 9943; Fax...

... requirement is liable to a fine of HK$200,000 (plus HK$2,000 for each day on which the offence continues) and, in the case of an individual, to imprisonment for two years. Commentary – Authorized insurers should revisit their present compliance and internal control systems and enhance awareness of this...

... cited emerge from our observations in our complaints handling and supervision work and also take account of the Insurance Core Principles (“ICP”) promulgated by the International Association of Insurance Supervisors. ICP 19.10, which requires insurers to handle claims in a timely, fair and...

... nature arising from personal insurance contracts. Apart from maintaining the ICCB’s service of adjudicating claim-related disputes, the ICB has launched a new mediation service to handle non-claim related insurance disputes of a monetary nature starting from 16 July 2018. In this connection, besides...