November 2011
Issue No. 184
2011 Extraordinary General Meeting (EGM) & Christmas Cocktail Party
The EGM will be held at 5:30 pm on Thursday, 15 December 2011 in our conference room (please refer to Circular Ref: Mv 114/11 for details). This will be followed by the Christmas Cocktail Party. I look forward to seeing you all there.
Development of Renminbi Insurance Market
On 14 November 2011, the Chairman of the Life Insurance Council Mr Thomas Lee, Chairman of the Task Force on RMB Life Insurance Products Mr Liu Tingan and I joined the delegation led by Professor K C Chan, Secretary for Financial Services and the Treasury, to Beijing. Our meetings with the China Insurance Regulatory Commission, Hong Kong and Macao Affairs Office of the State Council, People’s Bank of China and China Securities Regulatory Commission were very fruitful.
We discussed the challenges and opportunities with Mainland’s officials in developing Renminbi insurance business in Hong Kong and the possibility of allowing insurers in Hong Kong to invest in the Mainland interbank bond market. We will continue to work closely with the FSTB to achieve further progress on this front.
New Insurance Mediation Pilot Scheme (NIMPS)
The Wrap Up Ceremony of NIMPS was successfully held on 3 November 2011. About 100 guests and journalists attended the events. We are particular grateful to the presence of our officiating guests Secretary for Labour and Welfare the Honourable Matthew Cheung, His Honour Judge Johnson Lam and His Honour Judge Barnabas Fung.
The highlight of the event was the experience sharing by the mediator, representative of insurance company and the social worker involved in a number of successful mediation cases. Mediation promotes mutual understanding and foster goodwill. The successful completion of NIMPS lays a solid foundation for the healthy and sustainable development of mediation as effective way to resolve insurance related disputes.
To further promote mediation among insurance practitioners, we are organizing a series of seminars. The first one was held on 24 November 2011. Two more seminars will be held on 2 December and 13 December 2011 (Circular Ref: Mv111/11). As for members of the public, they may contact the Joint Mediation Helpline Office at 2901 1224 directly for assistance if they need mediation services (website: www.jointmediationhelpline.org.hk).
Personal Data (Privacy) (Amendment) Bill 2011
On 26 November 2011, Mr Harry Wong, Chairman of the Task Force on Review of the Personal Data (Privacy) Ordinance, represented the HKFI at the public hearing of the Legislative Council’s Bills Committee on the above Bill. He reiterated the industry’s support for an effective “opt-out” arrangement and legislation aimed at striking a proper balance between safeguarding consumers’ privacy and protecting normal marketing activities.
Members’ Survey on Services Provided by HKFI
I would like to thank those Member Companies for providing response to the above survey conducted in September 2011. The overall ratings given by respondents are positive. We are most grateful for the suggestions and comments you have made. They provided useful reference for us to work harder to further improve our services to Members.
Cross-strait, Hong Kong & Macau Insurance Business Conference 2011
The above conference was successfully held in Taipei in mid-November. More than 200 insurance practitioners from the Greater China region participated in this annual event to discuss topical issues such as ageing population and the strategic development of personal insurance products and impact of the 311 Japan Earthquake on the general
The next conference will be co-hosted by Hong Kong and Macau in 2012. We look forward to your continued support.
Participating teams from 17 secondary schools joined the "Journey of Life of Risks and Adventures" Competition held on 12 November 2011. We are pleased to see the youngster making full use of the knowledge they have learned in the financial and life planning curriculum in this contest. Congratulations to the winning teams!
Green Power Hike HKFI Cup 2012
The HKFI is supporting the Green Power Hike for the seventh consecutive year. A total of 130 teams from the insurance industry have participated in this annual charitable walkathon since 2005. The next Green Power Hike will be held on Saturday, 14 January 2012. We are appealing to you, your colleagues and agencies to continue supporting this meaningful cause. For further details, please contact Ms Jessica Lai of Green Power at 3961 0219.
MEMBERSHIP NEWS
Mission Well Community Project Change of Authorized Representative
California Insurance Co Ltd - Mr Simon Chow
Alex Chu HKFI Chairman
As at 30 November 2011, the HKFI has 87 General Insurance Members and 42 Life Insurance Members.
