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Cases for the Insurance Sector – Red Flags and Good Tips (29/12/2021)

Being an important element of the diversified financial businesses, the insurance industry in Hong Kong is experiencing a rapid growth as a regional insurance hub. This stems from insurance companies’ continuous efforts in brand building and winning customers’ confidence. As the insurance sector in Hong Kong is getting more and more relevant to our lives and well-being, it is imperative for insurance companies to be vigilant in upholding a high integrity standard and to take a proactive stance against corruption in order to secure customers’ confidence, and sustain the stable and healthy development of the industry.
In view of the above, the Corruption Prevention Advisory Service (CPAS)of the ICAC has recently uploaded three case studies regarding the insurance industry, making reference to past corruption cases, to the Portal to illustrate the corruption risks and red flags in the core operations of an insurance company, as well as recommended system control measures to help company reduce the risks of staff / insurance intermediaries engaging in corrupt activities.  Please click here to view the details.