《HK保监透视201611 ilens3-p3》.pdfVIP

News Bites Selling of Insurance Policies to Mainland Visitors * The Insurance Authority has recently issued a circular to all * long term insurers reminding them to put in place proper control * and procedures to ensure that the policies issued to Mainland visitors are underwritten in Hong Kong. * There is no restriction on insurers selling insurance policies to * Mainland visitors when they are in Hong Kong. However, they need * to keep documentary evidence to show that these visitors are actually * in Hong Kong when signing the applications. Failure to ensure that * the policies are properly underwritten may render the insurer’s directors and controllers not “fit and proper”. * The Insurance Authority will step up his on-site inspection to * ensure that insurers maintain adequate and proper control over the * selling of policies to Mainland visitors. Exchange The International Association of Insurance Supervisors (“IAIS”) ong Kong is a member of the Conference, the OCI participated in * HIAIS, an association representing discussion on a wide variety of topics * insurance supervisors of over 100 including Convergence of Financial * jurisdictions. Members of the IAIS are Sectors, Risk Securitization, Insurance * committed to improving the standard on the Internet, R