The Hong Kong Federation of Insurers (HKFI) today (Friday, 26 October 2012) welcomes the second round consultation on the proposed establishment of an independent Insurance Authority.

"We support the proposal in principle and are pleased to learn that the Administration has responded positively to our suggestion and conduct a second round consultation with the industry," said Ms Agnes Choi, Chairman of the HKFI.

For this important subject, the HKFI has set up under its Governing Committee a special taskforce.  The group will start work right away to formulate an industry response.  In the process, it will consult our Member Companies and, where necessary, gather views from other industry bodies.

We look forward to constructive dialogues with all stakeholders, including the Office of Commissioner of Insurance, to come up with a practical framework which protects consumers and help grow our industry", said Ms Agnes Choi.