... 1 Hong Kong FinTech Week 2020 4 November 2020 Keynote Speech by Mr Clement Cheung Chief Executive Officer of the Insurance Authority Ladies and gentlemen, good morning. Hong Kong FinTech Week is a most anticipated event, and it takes on a special meaning this year as we are not just talking about...

..., which will provide a safety net for policy holders in the event of an insurer’s insolvency. We are proactively exchanging views with the industry and aim to launch the Scheme in 2019. In mid-2019, we will be directly regulating insurance intermediaries and implement a statutory licensing regime to offer...

... A shift in mindset from an emphasis on savings and investment return to a focus on protection is essential if we are to narrow the protection gap,” he said. The event featured a total of three panel discussions - the first one on GBA moderated by Mr Laurence Li, Chairman of the Financial...

... compensation in response to the claim. Make a police report: In the event of loss due to theft or malicious damage, make a police report immediately (within 24 hours in general), and retain a copy of the police report with the reference number. If the situation allows, take photos or a video of the...

...: Exclusions for medical expenses If the insured person did not seek a local registered medical practitioner for consultation and treatment in the event of an accidental injury or illness at the travel destination, the follow-up medical expenses after returning to Hong Kong will not be...

..., which will provide a safety net for policy holders in the event of an insurer’s insolvency. We are proactively exchanging views with the industry and aim to launch the Scheme in 2019. In mid-2019, we will be directly regulating insurance intermediaries and implement a statutory licensing regime to offer...

... Risk Management Centre and a Regional Insurance Hub”. This event was attended by over 400 local and overseas delegates to share insights into the opportunities and challenges ahead, with a special focus on the Belt and Road Initiative (BRI) and the Guangdong-Hong Kong-Macao Greater Bay...

... event of an accident. There is a maximum benefit limit for each covered item and a maximum aggregate benefit amount per year. For valuables such as jewellery, antiques and art pieces, policyholders should declare them to the insurer in general. The insurer may provide extra benefits and adjust the...

... on why it is not considered material. 6.4 For GI Prescribed Scenario 2, many general insurers only considered events with associated scenarios in the prescribed capital requirements. The most common event assumed under GI Prescribed Scenario 2 was a natural catastrophe event. Whilst a natural...

... Kong as a Global Risk Management Centre and a Regional Insurance Hub”.      This event was attended by over 400 local and overseas delegates to share insights into the opportunities and challenges ahead, with a special focus on the Belt and Road Initiative (BRI) and the...