The Hong Kong Insurance Authority secured a conviction against Mr Yan Zhiyu after the Eastern Magistrates' Courts fined him HKD 10,000 for failing, without reasonable excuse, to attend an interview requested for an investigation into suspected misappropriation of premium payments belonging to two policyholders. The offence contravened section 64ZZL(1) of the Insurance Ordinance (Cap. 41). Under the Insurance Ordinance, the Insurance Authority may request a person to attend interviews or provide assistance for investigations into the conduct of insurance intermediaries. Non-compliance with section 64ZZL(1) can result in a fine of up to HKD 200,000 and imprisonment for one year on indictment, or a level 5 fine of HKD 50,000 and imprisonment for six months on summary conviction.
Hong Kong Insurance Authority 2025-09-03
Hong Kong Insurance Authority secures conviction and HKD 10,000 fine for failure to attend investigation interview
The Hong Kong Insurance Authority secured a conviction against Mr. Yan Zhiyu, fined HKD 10,000 by the Eastern Magistrates' Courts for failing to attend an interview related to an investigation into suspected misappropriation of premium payments. This contravened section 64ZZL(1) of the Insurance Ordinance, mandating compliance with interview requests during investigations. Non-compliance can lead to significant fines and imprisonment.