Office of The Commissioner Of Insurance, Hong Kong

A separate division in the government of Hong Kong?s special administration region is the insurance division which works to regulate the insurance policies in the nation and also protects policy holders. This is mainly set up to frame guideline for any insurance concern and to run an insurance concern the person must get the consent from this office. This office checks the financial status of insurer and other criteria and authorizes the insurance concern. This is a well structures organization with officials in many responsible positions. The working of this office is broadly classified into three namely general insurance business, long term insurance business and policy development.

The office headed by the commissioner is appointed as the Insurance Authority in Hong Kong. Their works include the authorization of insurer to start his insurance business among the public in Hong Kong. After authorization, the office takes care that the policy holder?s expectations are met by the insurer. But this office does not have authority in setting up the premium amount and it is left with the insurer. They maintain constant liaison with the insurance company and guides them. Their ultimate mission is to protect the interests of the policy holders.

In order to improve the insurance business and also protect the customers the officials create awareness about various insurance policies and new regulations brought forward in insurance policies by issuing pamphlets. They also mention the authorized insurance companies to the public so that they invest in those organized concerns. Thus they protect the people of Hong Kong being betrayed. Other than issuing pamphlets, upon public interest they advertise the insurance policies through television and create awareness. Apart from customer protection the insurance office also protects their surrounding environment and makes green office effect. The insurance office also accepts complaints lodged against the insurers for delay in settlement and cancellation of any policy all of sudden. Based in the complaints received the insurance office tales immediate action and without the consent of the policy holder it doesn?t disclose any information to the insurance concern. It manages to solve the disputes peacefully and enhance the insurance business in Hong Kong.

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This article was prepared by GuideMeHongKong.com - a Hong Kong-focused portal that provides comprehensive, accurate and current information to global business professionals and entrepreneurs about doing business, relocation, and living in Hong Kong. To learn more details about setting up a business in Hong Kong, visit our Hong Kong Offshore Company website.

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Created on Dec 31st 1969 18:00. Viewed 0 times.

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