Regulatory Alerts2019-11-29
Added · Updated
Guideline issued by the Insurance Authority on Medical Insurance Business
The Insurance Authority issued Guideline GL31 to establish regulatory requirements for medical insurance business, including sales processes, after-sales services, and data handling. Authorized institutions must implement adequate policies and controls to ensure compliance, particularly regarding needs-based product recommendations, transparent disclosure of policy terms, and restrictions on offering gifts. Furthermore, institutions are required to maintain staff competency through quality training and adhere to all other relevant regulatory codes and circulars.