Insurance

MR CHAN KIN-POR (in Cantonese): President, the background to this incident is actually attributed to the significant departure in recent years of “non-medically necessary” hospital confinement and some claims from the normal standard. As in the examples cited by the insurance company, the claims for cholecystectomy, which costs between $50,000 and $80,000, and colonoscopy, which …

Council Meetings (Oral Question): Protecting the Rights and Interests of Policyholders of Medical Insurance (2017.03.29) Read More »

MR CHAN KIN-POR (in Chinese): President, since the inception of the Mandatory Provident Fund (“MPF”) Scheme in December 2000, approved trustees have all along been implementing measures to reduce administration fees in a bid to control fund costs, including the implementation of standardized and automated administration processes, such as establishing the Electronic Portability Automation Services …

Council Meetings (Question): Implementation of the Mandatory Provident Fund Scheme (2017.01.11) Read More »

MR CHAN KIN-POR (in Chinese): President, it has been reported that the Secretary for Food and Health indicated in the middle of last year that over 60% of Hong Kong people could not meet the standard set by the World Health Organization regarding the amount of physical activities. For example, a survey found that on …

Council Meetings (Question): Measures to Encourage Hong Kong People to Do More Physical Exercises (2016.02.17) Read More »

MR CHAN KIN-POR (in Cantonese): It is pointed out in the documents that each year 21% of the total contributions are voluntary, showing that many consider the MPF a good avenue for investment. Let us look at the fact that $21 out of $100 is voluntary, not mandatory, contribution. Indeed, over the 15-year period, after …

Council Meetings (Oral Question): Abolition of MPF Scheme (2016.02.03) Read More »

MR CHAN KIN-POR (in Cantonese): Problems related to ILAS products vary. I believe the actions taken by the Government have addressed the problems, including those related to commission and product design, thereby making these products more loophole-free. However, when it comes to the regulation of the selling of investment products, the insurance sector strongly hopes …

Council Meetings (Oral Question): Regulation of Sale of Investment-linked Assurance Scheme Products (2015.06.10) Read More »

MR CHAN KIN-POR (in Chinese): President, in June last year, the Mandatory Provident Fund Schemes Authority and the Hong Kong Monetary Authority launched the “E-Payment for MPF Transfer system” (the E-payment system) to automate payments for the transfer of Mandatory Provident Fund (MPF) accrued benefits between trustees, and expected the time taken for such transfer …

Council Meetings (Question): MPF System (2015.02.04) Read More »