A Study on Pain Points in Claims Settlement and Rights Protection for Mainland Residents Insuring in Hong Kong
Abstract
This essay conducted comparative legal and policy study to investigate cross-border insurance practice of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) insurance business from the perspective of comparative legal and policy analysis; combined data from Hong Kong Insurance Authority, cross-border personal data transfer standards and regulations in the Greater Bay Area Alternative Dispute Resolution instruments. This study found that though there is a move toward GBA digital connectivity, the strict stipulations of "utmost good faith" disclosure criteria in Hong Kong, high turnover in intermediaries and the formidable capital control mechanism are still major pain points of mainland policyholders. This paper points out an obvious research gap related to how to transfer automated cross-border electronic patient health record transactions under the standard contract for GBA impact general common-law discharge criteria. To resolve these problems, this paper proposes a coordinated framework including a closed-loop transaction clearing model, physical Closer Economic Partnership Arrangement (CEPA) after-sales service centres, unified GBA coordinated dispute models and mandatory unified definitions for critical illnesses.
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