... 3. Description of nature of business and services to be provided by the licensed insurance broker company The client agreement should set out a description of the business and services to be provided by the licensed insurance broker company and this should include the following matters: (a) a...

... Chatbot’s limitations, how it should be used, the data set it is trained on and how that data is stored, used and how long it is kept. Adequate risk mitigation, ongoing monitoring, reporting controls and contingency plans would also need to be in place throughout its deployment. Careful consideration...

... requirements will be set out in the Guideline on the Fit and Proper Criteria for Licensed Insurance Intermediaries and soft consultation of the Guideline to be conducted later this year. Besides review of the minimum education requirements, we have also reviewed the CPD requirements. We are glad to see a...

... requirements will be set out in the Guideline on the Fit and Proper Criteria for Licensed Insurance Intermediaries and soft consultation of the Guideline to be conducted later this year. Besides review of the minimum education requirements, we have also reviewed the CPD requirements. We are glad to see a...

... of Insurtech through Insurtech Sandbox to help policyholders purchase suitable insurance products safely by using non-face-to-face channels. In order to protect the interests of policyholders, the IA also formulated a set of regulatory requirements for virtual onboarding via video...

... individual insurance agent’s role, however, is not to collect premium from the policyholder directly, or to serve as a conduit through which a policyholder should pay premium.  An individual insurance agent is, after all, an individual with a personal (not a business) bank account, who is not set...

... behalf so they could benefit from the fictitious premium discount. A third set of lies followed, as the agent sought to explain away why the claims were not being paid. The ethical line between right and wrong is a clear and bright one. Once crossed, however, it blurs and darkens making it...

... requirements will be set out in the Guideline on the Fit and Proper Criteria for Licensed Insurance Intermediaries and soft consultation of the Guideline to be conducted later this year. Besides review of the minimum education requirements, we have also reviewed the CPD requirements. We are glad to see a...

... On 23 December 2016, the Security Council Committee established pursuant to resolution 1988 (2011) enacted the amendments specified with strikethrough and underline in the entry below to its List (the 1988 List) of individuals and entities subject to the assets freeze, travel ban and arms embargo set...

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