... would have applied to the case had it been handled by the SRO concerned. The new conduct requirements under the new regulatory regime will not be retrospectively applied against insurance intermediaries. Similarly, IA will also handle any other cases of alleged contravention that occurred before 23...

... pandemic when in-person selling activities were not encouraged. To provide sufficient time for insurers to adjust internal procedures and handle insurance applications submitted on or before 30 April 2023, a one-month transitional period (1 May to 31 May 2023) will be introduced for insurers to return to...

... 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...

... 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...

... benefit illustrations, etc. Claims – refers to complaints in relation to insurance claims. The IA cannot adjudicate insurance claims or order payment of compensation. It can, however, handle complaints related to the process by which claims are handled (e.g. delays in processing, lack of controls or...