| Date
| Context
| Summary of development
| Action
|
|---|
|
3.7.01
| FA
| The Panel discussed with the Administration on the monitoring of the financial position of insurance companies and the compensation arrangements for insurance policyholders in the event of liquidation of an insurer. [Paper]
|
|
|
3.6.02
| FA
| In the wake of the insolvency of the Australian parent company of the HIH group of insurance companies in 2001 which demonstrated the inadequacy of the existing regulatory regime for monitoring the financial position of the overseas parent companies of authorized insurers in Hong Kong, the Panel discussed with the Administration on the monitoring of the financial position of insurance companies and the compensation arrangements for insurance policy holders in the event of liquidation of an insurer. [Paper]
|
|
|
6.1.03
| FA
|
The Panel discussed with the Administration on -
| measures to enhance the regulatory regime for authorized insurers in Hong Kong; and
| | feasibility of establishing an insurance policyholders protection fund ("PPF").
| | |
[Paper]
|
|
|
1.3.04
| FA
| The Panel discussed with the Administration on the feasibility of establishing PPFs in Hong Kong. The Administration conducted a public consultation on the subject from December 2003 to March 2004. [Paper] [Annex to paper]
[Letter dated 16.12.03 from the Commissioner of Insurance]
| A
|
| 7.7.08
| FA
| The Panel discussed with the Administration on the latest development of the feasibility study on establishing PPFs in Hong Kong. [Paper] [Background brief] [Information note on measures to strengthen the supervision on assets of long term insurers in Hong Kong provided by the Administration]
|
|
| 6.7.09
| FA
| The Panel discussed with the Administration the proposed framework for the establishment of a policyholders' protection fund ("PPF") in Hong Kong and the plan for taking forward the proposal.
[Paper]
[Background brief]
|
|
