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IA and HKMA Joint Enforcement Action Bans Lim Ka Kit from Applying for Insurance Intermediary Licence for 9 Mths
2026-11-11 12:43:06 The Insurance Authority (IA) has banned Lim Ka Kit, former technical representative (agent) of an authorized institution (Licence number: IC3091), from being an insurance intermediary for nine months in a joint enforcement action with the Hong Kong Monetary Authority (HKMA). The investigation conducted by the HKMA revealed that Mr Lim had pressurized eight clients into acquiring medical insurance coverage via telemarketing despite their requests for time to consider. On two occasions, he went further by inducing the clients to alter their heights and weights for the purpose of meeting relevant underwriting requirements. Maria Tsui, Head of Enforcement of the IA, said that this case underscores the importance of ethical selling and treating customers fairly. They would like to thank the HKMA for demonstrating its shared commitment to ensuring that the financial industry focuses on honesty, transparency and integrity to build long-term trust. ~ AASTOCKS Financial News Website: www.aastocks.com | |