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Authorized Insurers
... Authorized Insurers Investigation For more effective regulation of authorized insurers and better protection of the interests of policy holders, the Insurance Authority (“IA”) has been provided with express powers under Insurance Ordinance...
https://www.ia.org.hk/english/enforcement/authorized_insurers/AuthorizedInsurers.html -
Date: 2021-09-13
... Insurance Authority welcomes initiatives announced in the Policy Address 25 November 2020 The Insurance Authority (IA) welcomes the initiatives announced today (25 November) in the 2020 Policy Address which include supporting the local insurance...
https://www.ia.org.hk/english/infocenter/press_releases/20201125.html -
Date: 2020-11-25
... its businesses; (g) the member shall maintain a professional indemnity insurance policy with a minimum limit of indemnity for any one claim and in any one insurance period of 12 months, of a sum equal to two years' annual brokerage of the member or HK$3,000,000.00 whichever is the greater, and the...
https://www.ia.org.hk/english/supervision/reg_ins_intermediaries/files/5_PIBA_Membership_Regulations_v5_15_4_2013_eg19.pdf -
Date: 2019-12-20
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Protection of policy holders
... Understanding Medical Insurance Protection of policy holders' interests Medical insurance products in general Under the Insurance Ordinance, the Insurance Authority (IA) has no statutory power to approve medical insurance...
https://www.ia.org.hk/english/medical_insurance/protection_of_policy_holders.html -
Date: 2024-01-18
... representative (agent) during the period in which he was serving in that capacity. Disciplinary action at an appropriate level is therefore merited. In deciding the disciplinary sanction to be imposed under Section 84 of the Insurance Ordinance, the IA weighed all relevant circumstances in balance, including...
https://www.ia.org.hk/english/infocenter/press_releases/20240110.html -
Date: 2024-01-10
... Brokers using the net insurance brokerage income There are Members who have wrongly used the insurance brokerage income net of their brokerage/commission paid to their Technical Representatives as the brokerage income for taking out the PII policy. “Insurance Brokerage Income” in the Membership...
https://www.ia.org.hk/english/supervision/reg_ins_intermediaries/files/2_GN_on_An_Cert_for_Prof_Ind_v2_10_6_2009_eg19.pdf -
Date: 2019-12-20
...). The IA adopts a zero-tolerance policy against contraventions of these requirements and will not hesitate to take proportionate action against any contravention of the said policyholder protection requirements. The IA acknowledges the Companies’ cooperation in accepting the disciplinary...
https://www.ia.org.hk/english/infocenter/press_releases/20230330.html -
Date: 2023-03-30
... authorities on implementation of the unilateral recognition policy for motor vehicle insurance and setting up of after-sales service centres in selected Mainland cities of the Guangdong-Hong Kong-Macao Greater Bay Area. On international circulation, issuance of two catastrophe bonds under the regulatory...
https://www.ia.org.hk/english/infocenter/press_releases/20230111.html -
Date: 2023-01-11
... insure only against mortality risk, with no potential returns, you may not need to consider a participating policy. Conduct a Financial Needs Analysis (FNA) through your insurer or insurance intermediary to understand your needs and evaluate your risk appetite, protection needs and financial condition to...
https://www.ia.org.hk/english/participating_policy/how_to_choose_participating_policy.html -
Date: 2024-01-18
... Insurance Authority welcomes initiatives announced in Policy Address to facilitate development of insurance industry 10 October 2018 The Insurance Authority (IA) welcomes the initiatives to facilitate the development of the insurance industry...
https://www.ia.org.hk/english/infocenter/press_releases/20181010.html -
Date: 2018-10-10