... claims reserving policy to be stated is in respect of its Hong Kong business. 29. A description of the arrangements made by the company for setting premium rates in respect of each class of business it proposes to carry on in Hong Kong, including the bases and methodologies used. 30. In the case of a...

... guidelines. In practice, in determining the likelihood that the regulated person may engage in the same or similar type of conduct in the future the IA might, for example, consider whether any compliance gaps or non-compliant behaviors identified have been rectified. 30. One respondent suggested the addition...

... guidelines. In practice, in determining the likelihood that the regulated person may engage in the same or similar type of conduct in the future the IA might, for example, consider whether any compliance gaps or non-compliant behaviors identified have been rectified. 30. One respondent suggested the addition...

... warrant) that all information supplied, whether relating to ‘material’ matters or not, is totally (not simply substantially) true. For example, where a proposer for medical insurance enters ‘30’ as his current age on the proposal form when he is aged 31, this is a technical breach of the above kind of...

..., is totally (not simply substantially) true. For example, where a proposer for medical insurance enters ‘30’ as his current age on the proposal form when he is aged 31, this is a technical breach of the above kind of warranty, if any, although this inaccuracy is unlikely to be material in the eyes of...

... several cans of beer daily for 30 years and was convinced that the deceased was a chronic drinker. Since this piece of non-disclosed information would be material enough to have affected the underwriting decision of the insurer, the Complaints Panel supported the insurer's decision to reject the claim....

..., there was no direct relationship between alcoholic consumption and tongue carcinoma. The Complaints Panel's attention was drawn to the medical reports of two different hospitals indicating that the deceased had a habit of taking several cans of beer daily for 30 years and was convinced that the deceased...

... several cans of beer daily for 30 years and was convinced that the deceased was a chronic drinker. Since this piece of non-disclosed information would be material enough to have affected the underwriting decision of the insurer, the Complaints Panel supported the insurer's decision to reject the claim....

...? Feedback received 30. A majority of respondents supported the proposed client account reconciliation requirements although some respondents considered it more appropriate to perform such reconciliation on a quarterly basis or as and when appropriate/necessary. Those objecting to the reconciliation...