Hong Kong's Financial Services and the Treasury Bureau welcomed the publication of the 2024 Annual Report of the Process Review Panel for the Insurance Authority, which reviews selected cases completed or discontinued by the Insurance Authority between 1 January and 31 December 2023 and examines the adequacy of the Insurance Authority’s internal procedures and operational guidelines. The review covered the procedural frameworks supporting key regulatory functions including complaint handling, insurer authorisation, intermediary licensing, investigations and disciplinary actions. The Bureau highlighted that the panel’s observations and recommendations are aimed at promoting fair and consistent use of the Insurance Authority’s powers, and it noted that the Process Review Panel is an independent body established with the Chief Executive’s approval to advise on the Insurance Authority’s procedures and operational decision-making.
Financial Services and the Treasury Bureau (Hong Kong) 2025-04-29
Hong Kong's Financial Services and the Treasury Bureau welcomes Process Review Panel annual report reviewing Insurance Authority procedures
Hong Kong's Financial Services and the Treasury Bureau acknowledged the 2024 Annual Report of the Process Review Panel for the Insurance Authority, which assessed the adequacy of the Insurance Authority’s procedures and guidelines. The review focused on regulatory functions like complaint handling, insurer authorisation, and disciplinary actions. The Bureau emphasized the panel's role in promoting fair and consistent use of the Insurance Authority’s powers.