Regulatory Alerts2023-12-06
Added · Updated
IA-HKMA Joint Inspection Exercise on Premium Financing
The Insurance Authority and the Hong Kong Monetary Authority have launched a joint inspection exercise to assess compliance with supervisory standards on premium financing for long-term business. The review covers suitability assessments, measures against over-leveraging, risk disclosures, sales practices, and policy services. Findings will be shared with the industry to identify current practices and determine if further guidance is required.
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