Hong kong's first major work on insurance law insurance law and practice in hong kong is a comprehensive, practical work covering all aspects of local insurance law, from basic principles. With positive response from major insurance players in hong kong, the industry is currently moving toward a new generation of sophisticated regulatory requirement framework the risk-based. Learn more about these key trends in insurance regulations and how embracing complexity can help you accelerate performance, stay ahead of change, and successfully navigate the insurance.
The china insurance regulatory commission create laws, rules and regulations to supervise the industry 2 scrutinise and approval of insurance companies, subsidiaries, insurance holding. Hong kong’s former commissioner of insurance, clement cheung wan-ching, is expected to be appointed chief executive of the new industry regulator, the insurance authority, according to two. The insurance authority (ia), which is an independent statutory body, administers the insurance ordinance which has provisions governing the regulation of insurers and insurance.
1 life and non-life insurance (2) life and non-life business in hong kong – regulations and actuarial guidelines regulatory framework the principal regulation for the regulation of the. Reinsurance and ever-expanding regulation and oversight we live in a world of ever-expanding risks just as insurance companies find themselves being asked to cover the expanding risks of. Hong kong: changes ahead in insurance regulation by james parker (hk) on july 29, 2016 posted in asia, insurance, regulation and compliance the office of the commissioner of insurance (oci. The insurance industry is undergoing fundamental transformation insurers that plan strategically and analytically have the opportunity to stand out from their competitors during this.
A new era of insurance regulation in hong kong on 10 july 2015, the insurance companies (amendment) ordinance 2015 was enacted bringing insurance industry and enhance customer. Hong kong insurance companies charltons advises insurers, reinsurers and intermediaries such as brokers and agencies on regulatory compliance and investigations regulation is expected to. A new chapter in insurance regulation in hong kong dr moses cheng chairman, insurance authority, hong kong 20 september 2017 1 the hong kong insurance authority • established in december. Hong kong’s financial system and services wwwthechinfamilyhk 2 8 18 22 28 of policyholders and promotes the general stability of the insurance industry its work is to authorise and. The regulatory measures developed in hong kong are supported by a system of self-regulation by the insurance industry the mutual cooperation and support is characteristic of the way that.
Hong kong’s newly established insurance authority plans to spend its first two years determining new licensing requirement for the roughly 100,000 insurance salespeople in the city, but will. Timetric's 'governance, risk and compliance-the hong kong insurance industry' report is the result of extensive research into the insurance regulatory framework in hong kong it provides.
Asia insurance review - regulatory updates wwwpwchkcom january 2017 regulation circ has called upon the asian insurance regulators to increase changes would bring hong kong. There is no doubt that the iia will lead to more regulation of the insurance industry in hong kong and may well have repercussions on the structure of the hong kong insurance market, in. Stage three, the change in regulation of insurance agents and insurance brokers from the existing industry self-regulatory model to direct regulation by the ia, is expected to take effect.
2018: insurance regulation in asia pacific ten things to know about 20 countries the chapters on australia, china, hong kong, indonesia, papua new guinea, singapore regulator, for. 2017 asia-pacific insurance outlook | 1 the asia-pacific insurance market will remain in markets, such as china1, india, hong kong, singapore, malaysia, indonesia and thailand the imf. Top insurance industry issues in 2018 the insurance industry is extremely concerned about the challenges of over-regulation, the speed of technological change, changing customer behavior and. The financial stability board (fsb) has completed its framework for the regulation of systemically important banks (fsb 2013a), and is now turning to the insurance industry its approach is.
Asia insurance review is the source for breaking news about insurance industry find the latest articles, insurance conferences, videos, photos and blogs about asia insurance industry. Insurance regulatory law is the body of statutory law, administrative regulations and jurisprudence that governs and regulates the insurance industry and those engaged in the business of. Hong kong's insurance companies (amendment) bill 2014 was gazetted on friday 25 april 2014 and presented to the legislative council (legco) for a first reading on 30 april 2014, representing.