Hong Kong to tighten burgeoning premium financing market as red flags, risks emerge
Insurance watchdog to strengthen regulations as lenders lower threshold rules and fail to disclose risks putting policyholders in jeopardy
“Some insurers have promoted it too aggressively by lowering threshold requirements and using high leverage to attract middle-class buyers without fully ensuring that buyers fully understand the underlying risks,” said Marty Lui, the Insurance Authority’s executive director of long term business, at a media briefing on Friday.
