Hong Kong announces plans for Mainland insurance after-sales services centres
This was announced during Chief Executive John Lee’s policy address.
Hong Kong is planning to build after-sales services centres on the Mainland, located at Nansha and Qiahai, to support Greater Bay Area (GBA) residents who have bought insurance policies in the city.
The project was first proposed in 2019 as part of Hong Kong’s integration into China’s GBA plans, which includes Macau and nine cities in the Guangdong Province.
ALSO READ: 1 out 3 working Malaysians are uninsured
In a statement, the Hong Kong Insurance Authority (IA) said it “strongly supports” Lee’s proposals, which will strengthen Hong Kong’s role as a global risk management centre and regional insurance and reinsurance hub.
“The IA is actively liaising with Mainland regulators and other relevant authorities on a number of market development initiatives highlighted in the Policy Address, including the setting up of after-sales service centres and the introduction of innovative cross-border motor insurance products, to benefit Mainland and Hong Kong residents who are frequent travelers within the Greater Bay Area as soon as possible,” the IA said.
Cyber Insurance Can’t Do it Alone