Who regulates insurance in Hong Kong?

The Insurance Authority (IA)
The Insurance Authority (IA), an independent statutory body, administers the Insurance Ordinance (Cap. 41) (IO) which provides the legal framework for the regulation of insurers and insurance intermediaries (agents and brokers) in Hong Kong.

What is a bad faith claim against an insurance company?

Looking for evidence that supports the insurance company’s basis for denying a claim and ignoring evidence that supports the policyholder’s basis for making a claim is considered bad faith. If an insurer fails to promptly reply to a policyholder’s claim, that act of negligence, willful or not, is considered bad faith.

Does Myanmar have health insurance?

Compared to the neighboring countries, such as Thailand, Vietnam and India, the government spending on healthcare comes up short (Shobert 2014; WHO 2015a). The Ministry of Labour currently provides the only type of health insurance in Myanmar, the so-called Social Security Scheme (SSS), which was put in place in 1956.

What is reinsurance law?

Reinsurance Law Definition Reinsurance is essentially “insurance for insurance companies.” It is a contractual arrangement whereby one insurer (the ceding insurer) transfers all or a portion of the risks it underwrites pursuant to a policy or a group of policies to another insurer (the reinsurer).

Is non admitted insurance allowed in Hong Kong?

The regulatory regime in Hong Kong Both non-admitted insurance and reinsurance is permitted. In accordance, however, with the Insurance Companies Ordinance, no person may carry on any class of insurance business from within Hong Kong without being authorised by the Hong Kong Insurance Authority.

Which authority regulates insurance sector?

Insurance Regulatory and Development Authority of India
Insurance Regulatory and Development Authority of India (IRDAI), is a statutory body formed under an Act of Parliament, i.e., Insurance Regulatory and Development Authority Act, 1999 (IRDAI Act 1999) for overall supervision and development of the Insurance sector in India.

Can I sue my insurance company for emotional distress?

Depending on your diagnosis, car accident injury settlement for emotional distress may be available through the NSW CTP scheme. So, if you’re eligible, you won’t need to sue – you can simply claim compensation from the CTP insurer of the vehicle that was mostly at fault in the accident.

Can I sue my insurance company for taking too long?

Unfortunately, you can’t sue them for taking too long to pay. You can only sue for the actual damages you’ve incurred as a result of the accident. If you haven’t been able to get your insurance company to settle your claim, you need an experienced personal injury attorney on your side.

How good is healthcare in Myanmar?

Healthcare in Myanmar is consistently ranked among the lowest in the world. The global average of healthcare costs paid out of pocket is 32%. Both public and private hospitals are understaffed due to a national shortage of doctors and nurses. Public hospitals lack many of the basic facilities and equipment.

Does Myanmar have free healthcare?

Overall Healthcare in Myanmar To decrease the incidences of HIV in the country, MAM is providing safe needle exchange, condom distribution and STD treatment. The services are free for those who cannot afford them.