Insurers group gets tough

PUBLISHED : Thursday, 11 August, 1994, 12:00am
UPDATED : Thursday, 11 August, 1994, 12:00am
 

THE Hong Kong Federation of Insurers will ask the Government to intervene if full compliance cannot be extracted from its members on a gentlemen's agreement limiting commissions to 15 per cent.


Alex Wong, chairman of the Federation of Insurers, said a meeting of the General Insurance Council mapped out a series of steps to rectify the flouting of an agreement on capped commissions for intermediaries bringing in business.


Members signed similar agreements by the end of 1992 when the rule of standardised commission was first introduced.


The new agreement is a reconfirmation, with minor changes on technical details.


Share

 

Send to a friend

To forward this article using your default email client (e.g. Outlook), click here.

Insurers group gets tough

Enter multiple addresses separated by commas(,)

For unlimited access to:

SCMP.com SCMP Tablet Edition SCMP Mobile Edition 10-year news archive