Hong Kong Insurance Authority suspends Chan Lok Wang’s insurance intermediary licence for four months over falsified client signature on surrender form

The Hong Kong Insurance Authority has suspended the insurance intermediary licence of Chan Lok Wang for four months after he falsified a client’s signature on a policy surrender form, resulting in the cancellation of two long-term insurance policies. The authority found that the client requested the surrender of one of two policies and provided a partially completed, signed form. Chan photocopied the signed form to create a second surrender form, completed it and submitted it without clarification, leading to both policies being cancelled. In determining the sanction, the authority noted Chan’s admission of wrongdoing, the insurer’s internal disciplinary action, and his full cooperation during the process.