Mystery shopping programme identified deficiencies in QDAP and TVC sales practices. Insurers and intermediaries with adverse findings will be required to take remedial actions.
December 29, 2022The Insurance Authority asks insurance CEOs to promptly respond to requests to produce evidence for corruption investigations.
October 19, 2022Target is Hong Kong's largest motor insurer, providing coverage for mini buses and more than 60 percent of the 18,000-plus taxis in the city.
July 19, 2022Banks should discuss their plans for selling PLP with the HKMA and the details of pre-implementation reviews conducted by an independent party.
July 12, 2022The rules will promote better disclosures and facilitate informed decision-making by customers who intend to use premium financing for life policies.
April 6, 2022ILAS (investment-linked assurance schemes) can now also be distributed using non-FTF methods, with a fast track authorisation process.
March 15, 2022Preferential treatment in place since 2018 has been extended to mainland insurers that issue catastrophe bonds in the Hong Kong market.
February 28, 2022A mystery shopping programme is being launched by the HKMA, MPFA and IA to assess the extent to which statutory and regulatory objectives are being met by intermediaries.
January 3, 2022The circular follows the $30mn issuance of Hong Kong's first catastrophe bond by Greater Bay Re, a state-sponsored special purpose vehicle.
October 12, 2021The HKMA and IA found in joint inspections that customers may not be sufficiently informed about the potential impact of premium financing arrangements.
October 4, 2021