... the risk”. In recent years, there has been a growing chorus of voices suggesting that the “duty of disclosure” has become increasingly outdated and is too weighted in favour of the insurer. After all, can a prospective policyholder really be expected to know what type of fact might influence a...

... IA’s Register of Insurers as having a “Business Type” “Composite”. Please see: https://www.ia.org.hk/en/supervision/reg_insurers_lloyd/register_of_authorized_insurers.html. MAXIMUM NUMBER OF INSURERS = 4 (OVERALL CAP) Maximum number of long term insurers = 2 (sub-cap) https://www.ia.org.hk/en...

... activities? A2: In this scenario, the bank staff does not provide, explain or discuss with the client any information relating to a particular insurance product. Rather, the bank staff is introducing the generic insurance concept of annuities to the client (i.e. providing generic information on a type of...

... that the Insurance Company is not responsible for the advice given by the insurance broker. To facilitate this differentiation, a specific set of Important Facts Statement must be prepared for this purpose and must be used for business introduced from this type of intermediary. 4.6 Post-sale Controls...

... regulated activity during the training session. Q12:A senior manager of an authorized insurer who is an experienced insurance practitioner is invited by an education institute to give a presentation on a specific type of insurance product in an educational seminar. Is the senior manager required to be...

... regulated activity during the training session. Q12:A senior manager of an authorized insurer who is an experienced insurance practitioner is invited by an education institute to give a presentation on a specific type of insurance product in an educational seminar. Is the senior manager required to be...

... regulated activity during the training session. Q12:A senior manager of an authorized insurer who is an experienced insurance practitioner is invited by an education institute to give a presentation on a specific type of insurance product in an educational seminar. Is the senior manager required to be...

..., and procure client to acknowledge receipt thereof in writing and such written acknowledgment should be kept in the client file. Member is also recommended to explain to client in writing the type of services being or to be provided or offered. 7.2 Member should take reasonable steps to ensure that all...

... • Additional requirements of ORSA Report for Tier 1 and Tier 2 Groups 32 10. Reporting to the Insurance Authority and Supervisory Review 36 11. Implementation 37 Glossary 38 Annex A Three-tier group-wide supervisory approach 41 Annex B Reportable types of intra-group transaction or event 43 1 1. Introduction...

... control of the regulated activities of an agency or a broker company, the IA will take a “substance over form” approach to seek to understand the actual role played by the director in the agency or broker company. The type of factors and questions the IA will consider in this respect are set out below: 2...