... transfer of data and records.  The records of registration, complaints, disciplinary actions and appeals in relation to insurance intermediaries maintained by the SROs will serve as essential reference in relation to the fitness and properness of existing insurance intermediaries.  We are working...

... 2021, we published the Continuing Professional Development (“CPD”) Requirements (“CPD Penalty Framework”) outlining the disciplinary actions the Insurance Authority (“IA”) would impose for non-compliances related to CPD requirements. To complement this, we have today issued a set of Frequently Asked...

... decision itself must be recorded). (vi) The relevant recording must be kept for at least 7 years (or such shorter period as amended by the IA) after the termination of the relevant insurance policy(ies) sold. For the avoidance of doubt, in the case where there are more than one policy sold to the same...

... following Guidelines (“GLs”): • GL25: Guideline on Offering of Gifts • GL27: Guideline on Long Term Insurance Policy Replacement • GL28: Guideline on Benefit Illustrations for Long Term Insurance Policies • GL29: Guideline on Cooling-off Period • GL30: Guideline on Financial Needs Analysis • GL31: Guideline...

... following Guidelines (“GLs”): • GL25: Guideline on Offering of Gifts • GL27: Guideline on Long Term Insurance Policy Replacement • GL28: Guideline on Benefit Illustrations for Long Term Insurance Policies • GL29: Guideline on Cooling-off Period • GL30: Guideline on Financial Needs Analysis • GL31: Guideline...

... insurance broker company’s fitness and properness and give rise to disciplinary action under section 81 of the IO. The penalties include reprimand, pecuniary fine, suspension of licence or revocation of licence. Specified insurance broker companies must therefore ensure they comply with the new requirements...

... Ordinance (Cap. 41) (“Ordinance”) and its principal function to regulate and supervise the insurance industry for the protection of existing and potential policy holders. This Guideline also takes into account the relevant Insurance Core Principles, Standards, Guidance and Assessment Methodology (“ICPs...

... Policies with any refundable amounts are regarded as with cash value, therefore will fall in the scope of the Guideline. Also, in assessing whether an insurance policy as having refundable feature, insurers should consider substance over form. Q3 Referring to paragraph 4.3 of the Guideline, inforce...

... Policies with any refundable amounts are regarded as with cash value, therefore will fall in the scope of the Guideline. Also, in assessing whether an insurance policy as having refundable feature, insurers should consider substance over form. Q3 Referring to paragraph 4.3 of the Guideline, inforce...

... Hong Kong, 2020 #10 Hong Kong Government, 2020 #11 Hong Kong Government, 2020 190+Banks #1 #3 #5 #7 #10 #11 #9 #8 #6 #4 #2 top insurers in the world BUSINESS OPPORTUNITIES WITH POLICY SUPPORT Belt and Road Initiative HONG KONG: GLOBAL RISK MANAGEMENT CENTRE AND REGIONAL INSURANCE HUB #12 Under the...