New Member
Awarm welcome to China Pacific Life Insurance (H.K.) Company Limited for joining HKFI as a Life Insurance Member.
Recent Incident on Taxi Insurance
Market stability is a core requirement for the sustainability of any insurance market. HKFI is supportive of any measures that maintain the stability of the market and safeguard the interests of its policyholders. In this light, we have worked closely with the Insurance Authority (IA) and played a constructive role in managing the recent controversies and minimizing the potential adverse impact the incident might have on the industry and the public.
Over the past year, the core group established under the Accident Insurance Association has put forward a raft of viable solutions at the Legislative Council’s Joint Subcommittee on Issues Relating to Insurance Coverage for Transport Sector to tackle the pain points in different stages of the taxi insurance value chain. More recently, we put forward our proposal again reaffirming our commitment to supporting the Government’s determination to address the fundamental problems about the taxi industry and enhance the service quality and safety of taxis.
Protection-Linked Plan (PLP)
After its issuance of a circular on 28 December 2021, the IA held a media briefing on the same day to explain and educate the public on key features and differences of PLP versus ILAS. Meanwhile, the HKFI has been working on a series of public education programmes on PLP which will be distributed through different channels. Stay tuned and anticipate our upcoming informative and entertaining promotional videos!
Asian Financial Forum (AFF) 2022
On 10 January 2022, HKFI Chairman Mr Edward Moncreiffe and Chairman of Task Force on Green Insurance Mr Eric Hui joined the thematic breakout session titled “Innovating Insurance to Combat Climate Change” at the AFF 2022 and had an insightful exchange of views with other industry experts on how to address climate change and the emerging opportunities ahead.
SUQ Promotion Campaign
The Best Practice on Standardizing Underwriting Questionnaire for Individual Indemnity Hospital Insurance Plans (SUQ) came into effect on 1 January 2022. The HKFI has thus rolled out an advertising campaign to highlight the key features of SUQ and showcase our industry's commitment to enhancing market transparency and strengthening public confidence in insurance.
The promotional video, featuring a heavy metal band, is a novel attempt. It is now available on HKFI's YouTube Channel. Go check it out now!
Employees’ Compensation Review Report and Estimation of Motor Market Burning Cost Report
Thanks to the support from the IA and our Member Companies, the data submission rates for the Employees’ Compensation Review and Estimation of Motor Market Burning Cost were much higher than those of last year. The final reports on the subjects were released last December and two virtual briefings were arranged for Member Companies on 21 January 2022 for the appointed actuary S. Yu & Partners to brief the participants on the review results.
Hybrid Risk Management for Global Logistics & Physical Infrastructure
The Global Logistic Chain is a complex operation. To keep a complex operation functioning as seamlessly as possible, an extensive operation and physical infrastructure risk management regime must be put in place. On this, the Fire Insurance Association and Marine Insurance Association jointly invited Captain Lee Fook Choon, a consultant from Integral Marine Consultants of Singapore, to share his views with Members. Participants found the sharing by Captain Lee insightful.
Green Office Label and Eco-Healthy Workplace Label
We are pleased to announce that the HKFI has been awarded the Green Office Label and Eco-Healthy Workplace Label under the Green Office Awards Labelling Scheme (GOALS) organized by the World Green Organisation. This is a due recognition for our efforts to implement green practices in the office and foster our colleagues’ physical and mental well-being.
Green Power Hike HKFI Cup 2022
Due to the pandemic, the Green Power Hike 2021 was changed to a Virtual Hike. In view of the great success last year, the Green Power Hike 2022 – Virtual Hike has been launched this month and is held from 21 January to 21 February 2022.
During the event period, participants from each organization can decide to complete the target distance in one or more multiple sessions of self-designated routes with varying distances on the Hong Kong Trail. Participants will upload to the system their hike records, which will then be accounted for the overall accumulated hiking distance of the respective company.
Members are encouraged to join the HKFI Cup of the Hike to raise funds for projects on environmental education. Visit the event website at http://www.greenpower.org.hk/hike for more details!
Recruitment Platform for Insurance Industry
It’s time for Member Companies to outline the hiring strategies at the beginning of 2022!
Initiated by the industry think-tank Club 2028, HKFI has established the first ever recruitment platform for the insurance industry. It is a trustworthy and centralized portal connecting job seekers with insurance companies.
Send us more job advertisements now to catch up with this season for job-hunting. We have further extended the complimentary job posting service for HKFI Members amid the pandemic. Don’t miss the chance to utilize this free platform to attract talents to support your deployment plan. Visit the website at http://insurancejobs.hkfi.org. hk now for more information.
Chinese New Year Greetings
W e wish you all a Healthy and Prosperous Year of the Tiger! ································
Membership
New Membership
● Life Insurance Member: China Pacific Life Insurance (H.K.) Company Limited
Change of Authorized Representative
● General Insurance Member: The Sincere Insurance & Investment Co., Ltd. – Mr Roderick Stuart Anderson
As at 31 Jan 2022, the HKFI has 85 General Insurance Members and 53 Life Insurance Members.