Insurance Authority extends coronavirus rules

From: RegTech Analyst

Hong Kong’s Insurance Authority has extended its temporary Covid-19 facilities for non-face-to-face distribution of some insurance products.

These facilities have now been extended to New Year’s Eve 2020, according to Asia Insurance Review.

The new rules is covering measures include Qualifying Deferred Annuity Policy, Voluntary Health Insurance Scheme products, term life policies and refundable policies without substantial savings component or renewable policies without cash value that provide insurance protection.

Insurers and their partners can distribute these policies through digital, telemarketing, postal and video channels, but not via face-to-face meetings.

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