...  All supporting documents in connection with the Application should be duly verified against the relevant original copy by your appointing principals before submission to the IA.  If you are an existing licensed insurance intermediary and intend to apply for a different type of insurance intermediary...

... identification of the conduct; and (v) the likelihood that the authorized insurer will engage in the same type of conduct in the future. (c) The previous disciplinary record and compliance history of the 4 authorized insurer, including: (i) previous disciplinary record and compliance history of the authorized...

... policy for ensuring that relevant staff receive adequate AML/CFT training? Have the insurance institutions monitored who have been trained, when the staff received the training, the type of the training provided and the effectiveness of the training? Staff Training 24 • Training materials regularly...

... operative under the new policy? The “Incontestability Clause” under your existing policy may already have taken effect to protect your interests. That means the validity of the existing policy is incontestable unless there is, for example, fraud or non-payment of premiums. (g) Is the type of the new policy...

... policy for ensuring that relevant staff receive adequate AML/CFT training? Have the insurance institutions monitored who have been trained, when the staff received the training, the type of the training provided and the effectiveness of the training? Staff Training 24 • Training materials regularly...

... Adjustment Management Expenses Underwriting Profit/(Loss) 17,558,218 14,606,363 14,317,988 2,013,284 1,511,409 13,519,708 10,881,948 10,841,706 (34,912) 2,005,193 (5,408) 5,420,562 4,319,617 4,434,679 1,216,020 908,992 3,378,215 2,770,839 2,927,107 (25,354) 669,233 (45,299) 160,100 36,627 37,730 13,089 8,093...

... claim application is received by the HKMCA (which may result in a financial loss); and (ii) 100 % of the premium paid less the cumulative guaranteed monthly annuity payments made by the HKMCA as at the date on which the death claim application is received by the HKMCA, without extra discount (thus...

... Risks Consortium Orchestrates and facilitates State Owned Enterprises / Captives Anchor Re/insurers Re/insurance Brokers Mainland Re/insurers in HK Hong Kong authorized insurers Lloyd’s Class Capacity(US$M) Credit 530 Engineering 1190 K&R 185 Liability 100 Marine 125 Political Risk 675 Political...

... Risks Consortium Orchestrates and facilitates State Owned Enterprises / Captives Anchor Re/insurers Re/insurance Brokers Mainland Re/insurers in HK Hong Kong authorized insurers Lloyd’s Class Capacity(US$M) Credit 530 Engineering 1190 K&R 185 Liability 100 Marine 125 Political Risk 675 Political...

... premiums will decline by 3 0.1%, while total sum of related claims could eventually balloon to a mind- boggling US$100 billion. The insurance industry in Hong Kong is not immune, with latest statistics showing that premium growth for the first three quarters of 2020 had slowed down to 5.5%. New business...