Hong Kong Insurance Authority warns against unlicensed insurer website
Hong Kong Insurance Authority warns against unlicensed insurer website | Insurance Business Asia
Cyber
Hong Kong Insurance Authority warns against unlicensed insurer website
Industry watchdog issues advice for consumers
Cyber
By
Roxanne Libatique
Hong Kong’s Insurance Authority (IA) has alerted the community to the presence of a questionable website operating under the URL “https://www.procap.insure/”.
This website claims affiliation with “ProCap International,” a firm that has not received authorisation as an insurer or insurance intermediary in accordance with the Insurance Ordinance (Cap. 41), a regulatory framework for insurance operations in Hong Kong.
Risks associated with engaging with unverified entities
The IA’s notification is aimed at enhancing public awareness about the risks associated with engaging with unverified entities online that offer insurance services.
The authority emphasised the necessity for individuals to authenticate the credentials of any company claiming to provide insurance-related services in Hong Kong or from within its jurisdiction.
Insurance Authority offers advice on dealing with suspicious websites
To facilitate this verification process, the IA recommends that individuals consult the official IA website. There, the Register of Insurers and the Register of Licensed Insurance Intermediaries are accessible, listing all entities officially sanctioned to offer insurance services in Hong Kong.
This initiative is part of the IA’s comprehensive strategy to protect consumers from unauthorised insurance activities and to maintain the integrity of the local insurance marketplace.
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