Regulatory Alerts2020-08-05
Added · Updated
Circular Issued by the Insurance Authority on Sandbox Application for the Distribution of Long Term Insurance Policies via Video Conferencing Tools
The Insurance Authority issued this circular on 5 August 2020 to outline the framework for authorized institutions applying for a regulatory sandbox to distribute long-term insurance policies via video conferencing tools. The document establishes the specific requirements and procedures for institutions seeking approval to conduct these remote distribution activities under the sandbox regime. It serves as the primary guidance for wealth management and MPF sectors regarding the use of digital tools for selling life insurance products.
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