Support for overseas medical treatment rates of 10 to 20 per cent

Hong Kong is also the main product of inland consumers’ insurance. Miss Gand revealed that when her child was born, she would go to Hong Kong for a heavy risk.

“The majority of the premiums for client insurance premiums range from $100,000 to $1 million.” After the outbreak, consumers in the interior have given greater attention to health guarantees, while the majority of clients in distress in Hong Kong have an adequate budget to pursue higher levels of coverage. However, it is worth noting that Hong Kong’s heavy health insurance is priced separately from smoking, and that smokers tend to have a rate of 10 to 20 per cent.

Both Miss Gan and Customs believe that support for medical treatment abroad is a central advantage in Hong Kong’s heavy risk. Typically, insurance companies transfer heavy-risk payments to offshore accounts where clients in a situation of externality have direct access to funds, but customers in the interior are subject to foreign exchange-related restrictions.

Chachanism believes that the gap between Hong Kong and the hinterland prices has been small with the development of inland security policies. In addition to redundancy, the primary characteristics of the former are the high level of exemption from medical examinations; the upsurge in the initial N insurance; the multiple payment and non-separability of heavy malaria in Hong Kong; the guarantee of early childhood diseases; and higher rates for smokers. In part, the risk of internal malaria has also recently been guaranteed by an annual N premium.

The Princess of Sinda Securities Analyst expressed the hope that, with the full resumption of customs clearance in Hong Kong and the interior, it would be possible to gradually increase the number of tourists in the interior, while at the same time, with the increasing level of income among the inhabitants, the needs of the inhabitants of the interior in terms of wealth management and transmission, health security requirements (especially high-end medical and hygienic) and globalized asset allocation were expected to be gradually freed, and Hong Kong’s insurance market was expected to gain the confidence of more inland clients, such as marketization and specialization.

In the context of increased demand for preventive savings for the inhabitants of the interior and rising demand for medical security for inland visitors, Chachanan indicated that in 2023, savings insurance, malaria insurance, other insurance premiums were projected to account for 55 per cent, 40 per cent and 5 per cent, respectively, of the new passenger unit structure, with an average premium of $4.05 million, 3.0 million and 0.9 million. Under the optimistic scenario, it is projected that this year, Hong Kong, China, will have a new unit premium of $56.8 billion, an increase of 30.9 per cent over 2019.

Rejection penalties

As is the case with inland savings insurance, most Hong Kong’s savings insurance is lost during the payment period, and the latter’s chain is longer. Similarly, the above-mentioned 24-year-old non-smoking man was insured for Hong Kong’s own savings in the amount of 0 for the first two years, and the amount of $55,974 was expected to be recovered at the end of the third year, only 51.8 per cent of the total premium paid. Until the end of the tenth year, reinsurance was expected to recover $209,000, higher than the total premium paid.

Exchange rate and foreign exchange policy risk

The customs clearance indicated that multi-currency conversion is the mainstream function of Hong Kong’s savings insurance, i.e., a change in the currency of the bill, which was originally the United States dollar, which could be converted into the People’s currency, the £, the euro, etc. On the one hand, a plurality of assets could be configured to accommodate overseas retention, tourism, etc.; on the other hand, inter-currency exchange rate changes would lead to a devaluation of insurance policies, which would require careful consideration before operation.

CNDP has published the China Insurance Institute’s Risk Reference on Internal Residents’ Access to Insurance (hereinafter referred to as the “Indicator”) which refers to “the personal purchase of life insurance and the return of investment by residents of the interior abroad to sub-infrared insurance, which is a transaction under financial and capital, an ongoing foreign exchange management policy that is not yet open, with certain policy risks”.

High cost of litigation in Hong Kong

It also states that Hong Kong is covered by the Hong Kong Region Act. In the event of a dispute, the insured person is required to make a claim in accordance with the laws of Hong Kong. It was mentioned by law that attorney fees were the most significant cost of proceedings in Hong Kong. Fees for Hong Kong lawyers are essentially charged on an hourly basis, according to different types of experience and experience, with significantly different rates of fees, less than 800 yuan per hour for cheaper service lawyers, and four digits for senior lawyers and lawyers.

Rationalization, based on actual needs

The industry cautioned that, in the face of post-commencement insurance winds and the preferential activities of Hong Kong insurance companies, residents of the interior needed to be fully rational and view insurance in view of their own real needs.

The lawyer Liu Daqun, a tenant of the Wirtschaftsprüfungsgesellschaftsprüfungs, told the new press that the Hong Kong and China laws and policies relating to insurance were contrasted by the different aspects of the legal application of the policy on paper disputes, the domestic foreign exchange policy provisions, and the regulation of the insurance industry by the central and domestic government, which considered that Hong Kong insurance had unlimited flexibility to alter the insurance coverage of the insured person, the simple trust, the separation policy, and the advantages of long-term investment returns. But there are also disadvantages such as the high cost of litigation in Hong Kong, the obstacles to the financial flow of insurance resulting from the non-opening of the current foreign exchange, the less stringent regulation of the Hong Kong insurance industry and the emphasis on the insurer’s active notification of obligations. Inland insurance has a wide range of easy and lower-cost solutions to insurance disputes, a stricter regulation of the insurance industry, an emphasis on the advantages of insurance companies’ obligations, and a lack of flexibility in comparison with Hong Kong insurance, limited access to investment, which may result in long-term investment earnings lower than Hong Kong insurance.

With regard to internally displaced persons whose core claims for insurance are those who may be at significant risk through insurance leverage, Liu Daqun recommended that consideration be given to the selection of secure, secure and affordable inland insurance; and that Hong Kong insurance, where core claims are persons seeking overseas assets, should be considered for more flexible and higher investment returns.

The consumer, Miss Gandhi, considered that, because of foreign exchange policy restrictions, the emergency of the residents of the interior could not be resolved in the event of heavy distress payments, thus making it more appropriate for those who planned to work abroad to study. In the case of savings insurance, consumers need to clearly refrain from guaranteeing the investment attributes of proceeds.

The “connectivity” of the insurance market in the Great Bay region is expected to be further enhanced

In October 2022, Hong Kong’s Lee Hong Kong’s family stated in its governance report that a post-insurance service centre would be established in the short term in Southsha, the former Sea, etc. to provide support to the inhabitants of the Great Bay region with Hong Kong’s policy. In November 2020, the central Government announced its support for the Hong Kong insurance industry in the Great Bay region.