... Regulatory Requirements on Lloyd's Lloyd's is subject to similar regulatory requirements applicable to other authorized insurers. During any period when a member of Lloyd's is carrying on insurance business in Hong Kong, Lloyd's, a member of...

... (i.e. $50,000 at present). Commentary – An authorized insurer should have a system in place to make its appointed agents aware of this requirement and should remind them of it periodically (e.g. periodic e-mail reminders), so that changes can be notified to the IA within the 14-day period required....

... nurture talents for the insurance sector.   The Programme offers a total of 31 temporary positions each for an employment period of up to 12 months. They are created under various functions of the IA, including supervision, licensing, complaint handling, enforcement and administrative...

... insurance agent as the insurance agent of that Principal. The IARB may register the insurance agent under the category of either Individual Agent or Insurance Agency of the relevant Principal. 16. The registration of an insurance agent shall continue only for such period, not exceeding three years, as the...

... the first half of 2019, with total gross premiums reaching $295.8 billion, indicating an increase of 16.6% over the corresponding period in 2018. (Percentage changes in brackets in the following paragraphs represent changes over the corresponding period of last year) Long...

... insurance industry for the first three quarters of 2020, indicating a growth of total gross premiums by 5.5% to $461.1 billion over the corresponding period in 2019. (Percentage figures shown in brackets represent year-on-year changes) Long term business Total revenue...

... insurance industry for the first three quarters of 2018, with total gross premiums reaching $388.3 billion, indicating an increase of 6.9% over the corresponding period in 2017. (Percentage changes in brackets in the following paragraphs represent changes over the corresponding period of...

... in 2018 Allow sufficient time to understand Pillar 2 requirements before implementation Timeline 11 201920182017 2020 2021 2022 + Final Standard Start of comparative period Effective date 1 January 2021 First compliant financial statements Target Effective Date ?QIS 1 QIS 2 Target on consultation on...

... policy by informing the client of the outstanding documents that needed to be submitted, the formalities for the arrangement of the EC insurance policy were never completed, and therefore when the “hold cover” period expired on 9 June 2020 no renewal notice was issued. This resulted in the...

... cooling-off period, and alleged unresponsiveness to client’s instructions/ enquiries. CONDUCT IN FOCUS 7 The IA’s Disciplinary Panel Pool and Expert Advisor Panel As at the end of September 2020, the IA has initiated 37 statutory investigations. The nature of these cases include allegations of the use of...