..., for failing to comply with this fundamental requirement. Since these were transitional cases, in taking disciplinary action the IA was required to apply the rules of the self-regulatory body which applied at the time. Going forward, however, this type of contravention can be prosecuted as an offence...

... able to purchase it: (i) state the objective(s) of the policy; (ii) state the type and nature of the policy (e.g. “The product is a long term insurance plan underwritten by [name of authorized insurer] and is neither a bank deposit nor a bank savings plan”); (iii) highlight the target premium amount...

... the IA to either carry out the investigation on its own or jointly with the MA. 36. Following the commencement of an investigation under the IO carried out by the MA, the MA will keep the IA informed of the progress of the investigation on a regular basis. 37. The MA will inform the IA of the...

... the IA to either carry out the investigation on its own or jointly with the MA. 36. Following the commencement of an investigation under the IO carried out by the MA, the MA will keep the IA informed of the progress of the investigation on a regular basis. 37. The MA will inform the IA of the...

... the IA to either carry out the investigation on its own or jointly with the MA. 36. Following the commencement of an investigation under the IO carried out by the MA, the MA will keep the IA informed of the progress of the investigation on a regular basis. 37. The MA will inform the IA of the...

... the IA to either carry out the investigation on its own or jointly with the MA. 36. Following the commencement of an investigation under the IO carried out by the MA, the MA will keep the IA informed of the progress of the investigation on a regular basis. 37. The MA will inform the IA of the...

... 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...

... 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...

... 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...