Process Review Panel for Insurance Authority

The Process Review Panel (“PRP”) is an independent non-statutory body set up by the Government to review and advise on adequacy of internal procedures and operational guidelines formulated by the Insurance Authority (“IA”) concerning regulation of insurers and insurance intermediaries as well as its co-ordination with the Hong Kong Monetary Authority on supervision of regulated activities carried out by banking institutions. It helps to ensure that the IA is conducting business and exercising powers in a fair and consistent manner.

To effectively discharge this role, PRP will submit an annual report to the Financial Secretary outlining its major activities, observations and recommendations.