Regulatory Alerts2023-12-06
Added · Updated
IA-HKMA joint inspection exercise on premium financing
The Insurance Authority and the Hong Kong Monetary Authority conducted a joint inspection exercise focusing on the use of premium financing for long-term insurance policies. The exercise targeted authorized institutions to assess their compliance with regulatory requirements regarding the sale and management of such financing arrangements. This initiative aims to ensure that institutions adhere to best practices and mitigate risks associated with premium financing products.
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