... submit further applications to effect this. That said, all the requirements3 applicable for the distribution of ILAS (including PLP) products must still be complied with (e.g. GL26 on Sale of ILAS Products, GL28 on Benefit Illustrations for Long Term Insurance Policies, GL30 on FNA etc) as appropriate....

... from being a prudential watchdog to a market enabler and facilitator. This unique role is unfound elsewhere in the local regulatory landscape and such a “split personality” bodes well for The Hong Kong Confederation of Insurance Brokers (CIB), as I will elaborate later on. Thirdly, with funding drawn...

..., with a breach of some types of policy provision, or the discovery that important information was omitted or wrongly given at the proposal stage (see 3.2 below); 3 Unenforceable contracts: This means what it says, an unenforceable contract cannot be enforced (or sued on) in a court of law. However, this...

... aware that insurance practitioners may use the word ‘risk’ with other meanings, including: 1 the property or person at risk that they are insuring or considering insuring; and 2 the peril (i.e. cause of loss) insured (so, some policies may insure on an ‘all risks’ basis, meaning that any loss due to any...

... Economic Partnership Arrangement (CEPA) encourages Mainland insurers to cede some of their business to reinsurers in Hong Kong. In addition, the Office of the Commissioner of Insurance, IA’s predecessor, signed the “Equivalence Assessment Framework Agreement on Solvency Regulatory Regime” with the China...

... Economic Partnership Arrangement (CEPA) encourages Mainland insurers to cede some of their business to reinsurers in Hong Kong. In addition, the Office of the Commissioner of Insurance, IA’s predecessor, signed the “Equivalence Assessment Framework Agreement on Solvency Regulatory Regime” with the China...

... Economic Partnership Arrangement (CEPA) encourages Mainland insurers to cede some of their business to reinsurers in Hong Kong. In addition, the Office of the Commissioner of Insurance, IA’s predecessor, signed the “Equivalence Assessment Framework Agreement on Solvency Regulatory Regime” with the China...

... Digital Distribution • Digital technologies can be deployed as business-enabling drivers for different parts of the insurance value chain and with cost efficiency advantages • Distribution governs how products and services are delivered and how companies interact with their customers • Offers more choices...

... advising on regulated activities in respect of long term business (hereinafter referred to as “insurance institutions” (“IIs”)), should meet in order to comply with the statutory requirements under the AMLO and the IO. Compliance with this Guideline is enforced through the AMLO and the IO. IIs which fail...