insurer adopt rules on ethics, client protection

Article Abstract:

The Hong Kong Federation of Insurers (HKFI) has announced the Guidelines for insurers and insurance agents on misconduct. The guidelines are regarded as ways on how to follow the Practice Code for the Administration of Insurance Agents. Insurance agents who ask the clients for signing blank or incomplete forms and failing to show to the estimated cost of replacing a life insurance policy to policyholders will be subjected as misconduct. Other improper behaviour such as forgery and misrepresentation will be resulted in disciplinary action. The Guildlines is effective from 1 September 1998. *

Comment:

Hong K: Federation of Insurers announces Guidelines for insurers and insurance agents on misconduct

Government regulation (cont), Hong Kong, Insurance Agencies and Brokerages, Insurance Agents & Brokers, Insurance industry

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IPB Pojistovna increased its stock

Article Abstract:

IPB pojistovna (Czech Republic), insurance firm associated in IPB Group, will increase its stock by 120 mil Kc by subscription to new shares. The firm's stock will rise to 300 mil Kc. The company expects the volume of its prescribed premiums to increase by more than 27% to 2.85 bil Kc and its technical reserves by 47% to 4.6 bil Kc in 1998. IPB Pojistovna saw a net profit of 23.7 mil Kc in 1997. About 19.5 mil Kc of the sum was transferred to the firm's reserve fund.

Comment:

Insurance firm will increase stock by 120 mil Kc by subscription to new shares

Czech Republic, Securities issued, listed, IPB Pojistovna

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