... Such requirement is considered important for safeguarding the clients’ rights to cancel their new long term insurance policies issued by insurers within the 21-day cooling-off period under the Hong Kong Federation of Insurers’ initiative on “Cooling-off Period”. Annex Page 3 of 11 However, it was noted...

... consent by an insurer, after all, will take into account commercial considerations. Hence, it is not considered appropriate to address this issue by way of regulation. Q3. Do you agree that the sub-cap should remain two long term insurers? Feedback received 21. A majority of respondents were of the view...

... consent by an insurer, after all, will take into account commercial considerations. Hence, it is not considered appropriate to address this issue by way of regulation. Q3. Do you agree that the sub-cap should remain two long term insurers? Feedback received 21. A majority of respondents were of the view...

... to approve, revoking the approval of or objecting to the proposed appointment or appointment already made, as appropriate, may, within 21 days after the notice informing the person of the decision has been served, apply to the Insurance Appeals Tribunal for a review of the decision. If a party to a...

... 2020-21 legislative session. Consultation 18 The proposed Insurance (Group Capital) Rules (“Group Capital Rules”) (a draft of which is at Annex B) are intended to complement the relevant GWS Amendment Ordinance to expand the IA’s functions and to provide the IA with the necessary powers to carry out...

... example, capital raisings, disposal of business units, transitioning business to run-off or increasing the overall level of reinsurance. Recovery options may be assessed from the perspective of speed and timing, operational aspects of execution, impediments, risks and necessary preparation required. 21 (g...

... application and the effect of a breach of the Brokers’ Code. Feedback received 21. A number of respondents commented on the several references in the draft Brokers’ Code to it being “non-exhaustive”. It was suggested that Brokers’ Code should contain all requirements licensed insurance brokers had to satisfy....

... application and the effect of a breach of the Brokers’ Code. Feedback received 21. A number of respondents commented on the several references in the draft Brokers’ Code to it being “non-exhaustive”. It was suggested that Brokers’ Code should contain all requirements licensed insurance brokers had to satisfy....

... receipt by the IA of a complaint relating to an AI, the IA will refer the complaint to the MA for handling as soon as reasonably practicable. 21. Upon receipt by the MA of a complaint, whether referred by the IA or not, which includes an allegation or element that is considered by the MA to be relevant to...