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⏭... therefore subject to levy. 2 These policies are those which fall under Classes 5, 6, 7, 11 and 12 in Part 3 of Schedule 1 to the Insurance Ordinance (Cap. 41). Note on Collection of Levy on Insurance Premium (Version 1.6) Page 2 PRESCRIBED RATES OF LEVY 6. The levy rates prescribed under the Order are as...
https://www.ia.org.hk/english/portal_for_insurers/lisa/files/Notes_on_collection_of_Levy_on_Insurance_Premiumv2.pdf -
Date: 2019-10-23
[HTML]
Insurance Authority bans Ma Chun Kei for 4.5 years for fabricating a certificate of insurance
... 2022, Mr Ma assisted a client to purchase professional liability and employees’ compensation insurance covering the client’s role as a contractor on an interior renovation project for a period of 4 months commencing 13 January 2022. Mr Ma obtained a quotation from an insurer for the...
https://www.ia.org.hk/english/infocenter/press_releases/20240111.html -
Date: 2024-01-11
... impose for non-compliances related to CPD requirements for the merged assessment period from 23 September 2019 to 31 July 2021 (“Merged CPD Assessment Period”). In accordance with the CPD Penalty Framework for the Merged CPD Assessment Period, in order to ameliorate the impact of the coronavirus pandemic...
https://www.ia.org.hk/english/legislative_framework/circulars/reg_matters/files/202112010CircularCPDENGNosignature.pdf -
Date: 2021-12-10
... this Guidance Note on Annual Certification for Adequate Professional Indemnity Insurance. Background CIB Membership Regulation 5.2 requires our Members to maintain Professional Indemnity Insurance (“PII”) with a minimum limit of indemnity determined with reference to their insurance brokerage income...
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
[PDF]
Circular_30092021.pdf
... Joint Inspection on the Use of Premium Financing to Take Out Long Term Insurance Policies in Hong Kong 30 September 2021 Ref: INS/TEC/9/2/2/26 HKMA/B1/15C To: Chief Executives of all authorized insurers carrying on long term insurance business, Responsible Officers of all licensed insurance broker...
https://www.ia.org.hk/english/legislative_framework/circulars/reg_matters/files/Circular_30092021.pdf -
Date: 2021-12-10
... added after policy issuance) needs to be companied by an FNA form? A 1. Treatment for riders should follow the requirement as if it is a basic plan. Q 2. Please provide a definition of 'top‐ups', in particular whether inflation protector option would be considered a top‐up. A 2. Top...
https://www.ia.org.hk/english/supervision/reg_ins_intermediaries/files/2_HKFI_FAQ_Initiative_on_FNA_v2_29_1_2016_20190823.pdf -
Date: 2019-12-20
... three Self-Regulatory Organisations (SROs)1. Under the new regime, a person will require a licence granted by the IA to carry on regulated activities. A person must be fit and proper in order to be licensed and this requirement is ongoing. The draft F&P Guideline outlines the key criteria...
https://www.ia.org.hk/english/infocenter/press_releases/20180928_1.html -
Date: 2018-09-28