... situation and after consultation with the industry, the IA sees the need for rolling out Phase 2 of the TFM with details of implementation set out below. Scope of products covered Phase 2 of the TFM will cover the following types of products – (i) Qualifying Deferred Annuity Policy (“QDAP”) (ii) Voluntary...

... payment collected. Delay. Insured complains. Premium paid by agent to insurer before renewal. “I was going to pay it before renewal and I did.” Renewal payment collected. Not paid to insurer by agent before renewal. Policy expires. Agent sorts it out after renewal. “I sorted it out didn’t I?” Agent...

... Programming Interface Framework and the Central Register for the Insurance Sector Attachment: Open Application Programming Interface Framework for the Insurance Sector in Hong Kong 12 September 2023 Prompt settlement of claims after severe...

... company’s monies and pay them, as soon as practicable after receiving the monies, into an account maintained by the company with an authorized institution for holding the specified monies. A contravention of section 71(1) of the IO amounts to an offence which is liable to a fine of $1,000,000 and...

... as a criteria • Time between policy issued/certain event and payout 18 18 Fund Outflow Frequent cooling off/policy cancellation on policyholder level 19 19 Fund Outflow 20 20 Withdrawal/surrender soon after change of policy ownership Fund Outflow Frequent surrender 21 21 Surrender loss over certain...

... to a contract of insurance within the definition of “linked long term business”; (i) “Point-of-sale audio recording” means an audio recording that an authorized insurer is required to arrange for a customer to listen to (in lieu of conducting a post-sale call), after the sale process for a base plan...

... to a contract of insurance within the definition of “linked long term business”; (i) “Point-of-sale audio recording” means an audio recording that an authorized insurer is required to arrange for a customer to listen to (in lieu of conducting a post-sale call), after the sale process for a base plan...

... to a contract of insurance within the definition of “linked long term business”; (i) “Point-of-sale audio recording” means an audio recording that an authorized insurer is required to arrange for a customer to listen to (in lieu of conducting a post-sale call), after the sale process for a base plan...

... to a contract of insurance within the definition of “linked long term business”; (i) “Point-of-sale audio recording” means an audio recording that an authorized insurer is required to arrange for a customer to listen to (in lieu of conducting a post-sale call), after the sale process for a base plan...

... Hong Kong Special Administrative Region • Suspect ML/TF • Doubt the veracity or adequacy of information previously obtained • Before establishing business relationship • After establishing business relationship if – a) this is necessary not to interrupt the normal conduct of business and – b) the risk...