Regulatory Alerts2024-06-27
Added · Updated
Findings from IA-HKMA Joint Inspection Exercise on Premium Financing
The Insurance Authority and the Hong Kong Monetary Authority issued this circular to disseminate findings from their joint inspection exercise on premium financing practices. The document outlines regulatory expectations and compliance requirements for authorized institutions regarding the use of premium financing for long-term insurance policies. It serves as a guidance reference to ensure institutions maintain robust controls and adhere to relevant regulatory standards in this area.
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