Dec 2015
Issue No.229
2015 Extraordinary General Meeting (EGM)
The EGM held on 16 December 2015 approved a 5% increment of
membership subscription fees for 2016. This is the first time we have increased the fee level since 2009. With this, the HKFI will be better resourced to deal with the many industry issues we are facing. Also, the insurance agents registration fee will be increased by 5% from $410 to $430.
Establishment of a Centralised Claims Database for the Prevention of Fraud
I
am pleased to report that we have selected the consultant to conduct a feasibility study and help address the related privacy issues for this very important project. The study is expected to take eight months to complete and we will keep you posted on progress.
Voluntary Health Insurance Scheme (VHIS)
The Task Force on Health Care Reform had a
constructive meeting with the Food and Health Bureau (FHB) last month expressing the industry’s concerns over some of the specific proposals. We are glad to note that the FHB has taken into account our valid and legitimate concerns, refined the proposed VHIS Framework, and thus making it more practicable and viable.
One noteworthy point is that the FHB proposed to launch the VHIS through a market agreement among all medical insurance providers. Whilst we are supportive of the idea in principle, we are mindful of related concerns expressed by the Competition Commission. On this, we have referred the matter to the FHB for advice on the proper way forward. For a better understanding of the revised VHIS Framework and related issues concerning market agreement and competition law compliance, we will invite FHB to conduct a briefing for Members by early 2016.
Life Insurance Council Change of Office Bearers
Following the resignation of Mr
Andy Robinson from the Life Insurance Council (LIC), Mr Lennard Yong and Mr Stuart Harrison have taken up the chairmanship and deputy chairmanship of the LIC respectively. A by-election is now being conducted to fill the casual vacancy. A vote of thanks to Mr Robinson for his remarkable contribution to the LIC and the HKFI in the past years.
Public Liability Insurance for Licensed Hotels and Guesthouses
The Home Affairs Department (HAD) has adopted our suggestion of including the procurement of third party liability insurance as one of the licensing conditions of Hotels and Guesthouses, instead of doing it through legislation. The new licensing requirements will take effect from 28 December 2015.
To assist HAD in promoting this to operators and help hotels and guesthouses to obtain the relevant insurance cover, we have uploaded a list of General Insurance Members authorized to write such business to our website (http://www.hkfi.org.hk/#!/ about-the-hkfi/member-list). Our representatives will also conduct seminars and briefings on the procurement of the relevant insurance for the hotel and guesthouse operators in the coming months.