... insurer:   General Business Insurer  The solvency margin is the greater of : one-fifth of the relevant premium income up to HK$200 million, plus one-tenth of the amount by which the relevant premium income exceeds HK$200 million; or...

... accounts and the maintenance of proper books and records are fundamental and imperative policyholder protection measures. Insurance broker companies act as the agents of, and owe fiduciary duties to the policyholders they serve. When a broker company collects and holds monies on behalf of its clients, it...

... to keep client monies in a client account separate from his own monies. As a general principle, monies received from client for the purpose of purchasing contract of insurance should be paid into a client account, and premium monies required to be paid on behalf of client to insurers should be...

... FinanCial arrangements 7 market OVerVieW Prudential regulatiOn 11 insurers 18 insuranCe intermediaries 23 COnsumer PrOteCtiOn 25 market deVelOPment 32 anti-mOney laundering and COunter-terrOrist FinanCing 34 highlights OF the year Governance 37 abOut the insuranCe authOrity 38 COrPOrate gOVernanCe 53...

... FinanCial arrangements 7 market OVerVieW Prudential regulatiOn 11 insurers 18 insuranCe intermediaries 23 COnsumer PrOteCtiOn 25 market deVelOPment 32 anti-mOney laundering and COunter-terrOrist FinanCing 34 highlights OF the year Governance 37 abOut the insuranCe authOrity 38 COrPOrate gOVernanCe 53...

... 50 4. Supervisory Developments for Insurance Intermediaries 67 5. Consumer Protection 72 6. Organisation and Management 83 Appendices 88 Calendar of Events 2013 114 This Annual Report covers the events occurred from 1 January 2013 to 31 December 2013. Currency and Exchange Rate All dollars expressed...

... 50 4. Supervisory Developments for Insurance Intermediaries 67 5. Consumer Protection 72 6. Organisation and Management 83 Appendices 88 Calendar of Events 2013 114 This Annual Report covers the events occurred from 1 January 2013 to 31 December 2013. Currency and Exchange Rate All dollars expressed...

... 50 4. Supervisory Developments for Insurance Intermediaries 67 5. Consumer Protection 72 6. Organisation and Management 83 Appendices 88 Calendar of Events 2013 114 This Annual Report covers the events occurred from 1 January 2013 to 31 December 2013. Currency and Exchange Rate All dollars expressed...

... the quotation, cover note, the premium debit note or covering letter, whichever be issued earlier by the Member to the client. The required Form of Disclosure shall be as follows:- "[Broker Name] (the “Company”) is remunerated for its services by the receipt of commission paid by insurers. Your...

... industry and for the protection of existing and potential policy holders. The Ordinance stipulates that the IA shall – be responsible for supervising an authorized insurer’s and a licensed insurance intermediary’s compliance with the provisions of the Ordinance...