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Disclosure of insurance brokerage commission
- Edwards Wildman Palmer LLP
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- Hong Kong
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- September 7 2012
In a landmark case earlier this year, the Hong Kong Court of First Instance decided that commissions received by an insurance broker from an insurer do not constitute illegal secret profits provided that they do not exceed what is normally paid in the insurance market
Transfer of long-term business and the court's role
- Edwards Wildman Palmer LLP
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- Hong Kong
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- April 18 2013
This case concerned a petition presented jointly by AXA (Hong Kong) Life Insurance Company Limited (AXA (HK)) and AXA China Region Insurance Company
Challenging years ahead for the insurance industry
- Edwards Wildman Palmer LLP
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- Hong Kong
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- February 19 2013
Hong Kong has one of the most developed and competitive insurance markets in Asia. Commentators observe that Hong Kong is over-serviced by insurance
Regulatory changes on disclosure of insurance brokerage commission to be implemented on 15 April 2013
- Edwards Wildman Palmer LLP
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- Hong Kong
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- November 13 2012
In January 2012, we wrote about the landmark decision by the High Court in Jeremy Paul Egerton Hobbins v Royal Skandia Life Assurance Ltd & Anor., HCCL 15 of 2010
Breach of warranty in Hong Kong: in theory and in practice - Leung Yuet Ping v Manulife
- Edwards Wildman Palmer LLP
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- Hong Kong
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- September 3 2009
Where an insured fails to provide his insurer with accurate information at the time of taking out an insurance policy, Hong Kong law provides the insurer with a number of potential remedies, including the right to avoid the contract, and possibly to claim damages, for misrepresentation
SFC clarifies the licensing requirements for the promotion, offering or sale of ILAS to the public
- Edwards Wildman Palmer LLP
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- Hong Kong
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- October 16 2009
The Hong Kong Securities and Futures Commission ("SFC") recently issued a circular clarifying that insurers, corporate insurance brokers and individual insurance intermediaries are not required or permitted to be licensed by the SFC under the provisions of the Securities and Futures Ordinance ("SFO") (Chapter 571 of the Laws of Hong Kong) to engage in promoting, offering or selling investment linked assurance schemes ("ILAS") to the Hong Kong public (the "Circular"
Landmark decision on disclosure of Insurance Brokerage Commission
- Edwards Wildman Palmer LLP
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- Hong Kong
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- January 30 2012
Over the years, there has been much debate that the practice of the insurance market in allowing an insurance broker (acting as the agent of the assured) to receive commission from the insurer may contravene the equitable principle that an agent cannot make a profit from his office without disclosing the profit to his principal (the assured
Tightened requirements on the sale of ILAS products
- Edwards Wildman Palmer LLP
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- Hong Kong
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- February 1 2010
In September 2009, the Hong Kong Life Insurance Council (HKLIC) introduced a set of new requirements in relation to the sale of Investment-linked Assurance Scheme (ILAS) products
Insurance Authority issued guideline on anti-money laundering and counter-terrorist financing
- Edwards Wildman Palmer LLP
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- Hong Kong
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- October 16 2012
The Hong Kong Insurance Authority recently issued a Guideline on Anti-Money Laundering and Counter-Terrorist Financing and a Guideline on Exercising Power to Impose Pecuniary Penalty
Insurance authority issued guidance note on outsourcing (GN14)
- Edwards Wildman Palmer LLP
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- Hong Kong
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- October 31 2012
In view of the increasing popularity of outsourcing customer-related and back-office business activities by financial service institutions to other parties as a means of reducing costs and achieving strategic aims, the Hong Kong Insurance Authority recently issued a Guidance Note on Outsourcing (GN14
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- Firm Name - Edwards Wildman Palmer LLP
- Workarea - Insurance & Reinsurance
- Jurisdiction - Hong Kong
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