The Hong Kong Insurance Authority has banned Ms Leung Wai Mei and Ms Ip Ka Ying from being considered as insurance intermediaries for 12 months and 21 months respectively, after finding they took out bogus policies to fulfil sales targets. Ms Leung fabricated two policy applications by misusing a client’s personal information, certifying a phony proof of identity for her son, and attempting to cover up by changing her correspondence address. Ms Ip fabricated eight policy applications by misusing the personal information of clients and friends and fraudulently accepting exclusion of personal liabilities arising from premises owned by two applicants. In determining the sanctions, the IA took account of the individuals’ remorse and full cooperation during the investigation, and noted it will use intelligence gathering, data analytics and collaboration with law enforcement agencies to detect and deter similar misconduct.
Hong Kong Insurance Authority 2025-06-12
Hong Kong Insurance Authority bans Leung Wai Mei and Ip Ka Ying for 12 and 21 months over fabricated policy applications
The Hong Kong Insurance Authority has banned Ms Leung Wai Mei and Ms Ip Ka Ying from acting as insurance intermediaries for 12 and 21 months, respectively, due to fabricating policy applications to meet sales targets. The sanctions considered their remorse and cooperation, with the IA emphasizing its commitment to using intelligence, data analytics, and collaboration with law enforcement to prevent similar misconduct.