... regulatory functions from the Hong Kong Government’s Office of the Commissioner of Insurance. As the prudential and conduct regulator of insurers, the IA is operationally and financially independent from the Hong Kong SAR Government. The IA currently has a staff of over 220 and aims to achieve full strength...

... and insurers, insurance brokers use their in-depth knowledge of risk management and the market to give professional advice and recommend insurance solutions that most suit the needs of their clients, from individual customers to SMEs and large corporations. It is no doubt that insurance brokers play a...

... a licensed insurance broker company, means— (a) if the company is incorporated in Hong Kong, the accounting standards generally accepted in Hong Kong; and (b) if the company is a non-Hong Kong company as defined by section 2(1) of the Companies Ordinance (Cap. 622), the accounting standards...

... • Jointly operated by HKPF & C&E (44 staff) • Not an Investigative Unit • Not a Reporting Center • Law Enforcement Model Joint Financial Intelligence Unit Overview of JFIU Joint Financial Intelligence Unit (“JFIU”) • Major Responsibilities (1) : – Receive – Analyze – Disseminate of Suspicious Transaction...

... • Jointly operated by HKPF & C&E (44 staff) • Not an Investigative Unit • Not a Reporting Center • Law Enforcement Model Joint Financial Intelligence Unit Overview of JFIU Joint Financial Intelligence Unit (“JFIU”) • Major Responsibilities (1) : – Receive – Analyze – Disseminate of Suspicious Transaction...

... false academic certificates were submitted. In both cases, the former agents each used a false academic certificate (in 2013 and 2017 respectively) when first applying to be registered with the Insurance Agents Registration Board (IARB) as insurance agents of authorized insurers. Subsequently...

... • Jointly operated by HKPF & C&E (44 staff) • Not an Investigative Unit • Not a Reporting Center • Law Enforcement Model Joint Financial Intelligence Unit Overview of JFIU Joint Financial Intelligence Unit (“JFIU”) • Major Responsibilities (1) : – Receive – Analyze – Disseminate of Suspicious Transaction...

... cited emerge from our observations in our complaints handling and supervision work and also take account of the Insurance Core Principles (“ICP”) promulgated by the International Association of Insurance Supervisors. ICP 19.10, which requires insurers to handle claims in a timely, fair and...

... that apply to the entire policy are: A war, rebellion or coup; Specific sports (e.g. motor racing) and professional sports or any activities where the insured person would or could earn income or remuneration from engaging in such activities; trekking at an altitude greater...

... effectiveness in administering the insurance laws of their respective jurisdictions have reached the following understanding: I. Definitions 2. For the purposes of this Memorandum of Understanding, the terms set out below have the assigned meanings unless the context requires otherwise: (a) “Authority” means...