May 2015
Issue No.223
Establishment
T
his is my first message to you as HKFI Chairman. I would like to thank you for your continuous support of the Federation over the years and I look forward to your advice and greater support in the next 12 months.
New
Life Insurance Members
On behalf of the Governing Committee, I would like to extend
a warm welcome to General Reinsurance AG and Metropolitan Life Insurance Company of HK Ltd as our Life Insurance Members.
Voluntary
Health Insurance Scheme (VHIS)
The HKFI-FHB (Food and Health Bureau) Task Force met
for the first time on 7 May 2015 to work out the details of reimbursement type of hospital insurance products under the proposed VHIS Framework. With the input from the Medical Insurance Association, we have prepared a survey to ascertain Members' views on the revised framework and to ensure the proposed way forward does not deviate from insurance principles and market norms.
of the Independent Insurance Authority (IIA)
On 15 May 2015, the Administration
published a "Response to Outstanding Issues Arising from the Discussions at Previous Meetings and Raised by the Industry". I am pleased to say that the response is positive in meeting the majority of concerns raised by your Federation and the industry (Circular
Ref: Mv067/15). Going for ward, the Administration will prepare the relevant Committee Stage Amendments and get the necessary endorsement. We shall keep you abreast of developments and the final legal wording adopted by the Bills Committee. The Task Force on Health Care Reform will meet shortly to review the feedback from Members and come up with a holistic proposal for discussion with the FHB next month.
By-election
Draft Guidance Note
The GIC is now conducting a by-election
Further to the two industry
of the General Insurance Council (GIC)
to fill a vacant seat for the current term. For those Authorised Representative of the General Insurance Members who are interested in serving the industry, please send in your nomination on or before 5 June 2015 (Circular Ref: Mv065/15).
on Underwriting Long Term Insurance Business (other than Class C Business) (GN16) briefings organised by the Life Insurance Council (LIC) on 3 March and 10 April 2015, the Insurance Authority (IA) has released the draft GN16 to set out business conduct requirements to ensure fair treatment of customers. The draft GN 16 is the result of ongoing discussion between the LIC and the IA since October 2014. LIC has collected comments from Members on the draft and will reflect the same to the IA as appropriate (Circular Ref: MV064/15).