| Regulatory Framework > Regulation
of Insurers |
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The
Insurance Claims Complaints Bureau ("ICCB")
was set up by the insurance industry in February 1990. The
ICCB
had 122 members as at 29 April 2005. Guided by the principles
of fairness and reasonableness, the Insurance Claims Complaints
Panel, an independent body established under the ICCB,
may look beyond the terms of insurance policies and provides
aggrieved claimants with an efficient and less costly avenue
to resolve their claims disputes in respect of their personal
insurance policies. The ICCB
is empowered to make an award of up to HK$800,000 in each
case.
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