Tag Archives: China

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FS welcomes annual report of Process Review Panel for Insurance Authority

     The Financial Secretary, Mr Paul Chan, today (October 22) welcomed the publication of the first Annual Report of the Process Review Panel (PRP) for the Insurance Authority (IA). 

     Mr Chan said, “The PRP plays an important role in enhancing the accountability of the IA in the exercise of its regulatory powers. In its inaugural term, the PRP conducted a comprehensive review of the internal procedures and operational guidelines of the IA through detailed examination of selected cases. The Report, which is the first report of the PRP summarising its work and recommendations, is conducive to ensuring the IA exercises its regulatory powers in a fair and consistent manner.
 
     “I would like to express my gratitude to the PRP Chairman, Mr Eugene Fung, SC, and members of the PRP for their dedication in working with the IA to enhance our regulatory regime for the insurance industry of Hong Kong,” he added.
 
     The PRP is an independent panel established with the approval of the Chief Executive on November 1, 2019, to review and advise the IA on the adequacy of the IA’s internal procedures and operational guidelines governing the actions taken and operational decisions made by the IA and its staff in the performance of the IA’s regulatory functions.
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Process Review Panel for the Insurance Authority publishes 2021 Annual Report

     The Process Review Panel for the Insurance Authority (PRP) published its 2021 Annual Report today (October 22), covering the work of the PRP in its inaugural term.

     The PRP Chairman, Mr Eugene Fung, SC, said, “The PRP selected and reviewed 30 cases, which straddled various regulatory functions of the Insurance Authority (IA), including complaint handling, authorisation of insurers, licensing of intermediaries and exercise of statutory power. The PRP made a number of observations and recommendations to the IA for its consideration, which would be conducive to the IA’s enhancement of procedures and guidelines.”

     He added, “I am pleased to learn that the IA has made a positive response to the PRP’s recommendations. I believe this report marks a good starting point for the PRP in its journey to assist the IA in exercising its regulatory power in a fair and consistent manner.”

     The 2021 Annual Report has been uploaded to the website of the Financial Services and the Treasury Bureau at www.fstb.gov.hk/fsb/en/business/prp/doc/ia_prp_report21_e.pdf.

     The PRP welcomes views of the public and market participants on the PRP’s work. The comments can be referred to the PRP via email at prpia@fstb.gov.hk. read more

Hongkong Post to issue “Congratulations on the Outstanding Achievements of the Hong Kong, China Delegation at the Tokyo 2020 Paralympic Games” special stamps (with photo)

     â€‹Hongkong Post announced today (October 22) the release of a stamp sheetlet and associated philatelic products on the theme of “Congratulations on the Outstanding Achievements of the Hong Kong, China Delegation at the Tokyo 2020 Paralympic Games” on December 9. Advance orders are being accepted from today.
 
     Since the first debut in 1972, this was Hong Kong’s 13th delegation to the Paralympic Games at Tokyo 2020. A total of 24 athletes, half of whom were debutants, took part in various events, namely archery, athletics, badminton, boccia, equestrianism, swimming, table tennis and wheelchair fencing. The Hong Kong, China Delegation performed at their best in the competitions and demonstrated fully their unwavering determination and perseverance, with the remarkable result of winning two silver and three bronze medals. The people of Hong Kong are proud of these achievements.
 
     To celebrate the outstanding achievements, the stamp sheetlet contains a set of three stamps, showcasing the events of badminton, boccia and table tennis. All the Paralympic medallists will be featured, making the commemorative stamp sheetlet an exceptionally meaningful collectible.
 
     Customers may place their orders for the stamp sheetlet and associated philatelic products through the Hongkong Post Stamps website (stamps.hongkongpost.hk) or the Facebook page (www.facebook.com/HKPStamps) now. Customers may also download and complete the printed form and return it to any post office (except mobile post offices) or by post to the Hongkong Post Philatelic Bureau P. O. Box 11968, General Post Office Hong Kong or Hongkong Post Philatelic Bureau, Freepost No. 15 Hong Kong (for locally posted mail only). Printed forms will also be available at post offices. The deadline for order placement is November 4.
 
     Information about the special stamps and associated philatelic products is available on the Hongkong Post Stamps website and in the “ShopThruPost” mobile app.

Photo  
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“Cruise-to-nowhere” itinerary of Royal Caribbean’s Spectrum of the Seas today cancelled

     A spokesperson for the Tourism Commission (TC) said today (October 21) that, the Department of Health (DH) identified a suspected re-positive case in the regular COVID-19 testing for crew members of Royal Caribbean’s Spectrum of the Seas. In accordance with the contingency management mechanism devised for “cruise-to-nowhere” (CTN) itineraries, the TC, the DH and the cruise company immediately cancelled the sailing scheduled for departure from the Kai Tak Cruise Terminal at 7pm this evening.
      
     The DH has separately announced the testing and quarantine arrangements for passengers and crew members of the cruise ship concerned. The TC has all along been closely working and following up with the cruise company. The cruise company has already arranged affected passengers to leave the terminal orderly, and informed them of the refund or rescheduling arrangements.
      
     The spokesperson pointed out that CTN itineraries are subject to a set of stringent health precautionary measures to cope with the epidemic risks. In this regard, all passengers and crew members must be fully vaccinated with COVID-19 vaccines, and must undergo polymerase chain reaction-based (PCR) nucleic acid tests within 48 hours before sailing and at a regular interval respectively and receive negative results. Cruise companies and passengers are also required to strictly comply with the respective anti-epidemic measures for cruise ships and various relevant premises. In the event that there is a suspected case on board during a cruise journey, the journey will be suspended at once and the departed cruise ship has to return to Hong Kong. The health authorities will determine the testing, medical surveillance and/or quarantine arrangements for the concerned passengers and crew members based on an epidemiological investigation and laboratory findings, having regard to the circumstances of the case.   read more