HK commissioner issues broker warning

HK commissioner issues broker warning | Insurance Business

HK commissioner issues broker warning
The Office of the Commissioner of Insurance in Hong Kong has warned the public of fake insurance policies peddled by an unauthorised broker.

The commissioner has alerted the public that Wang Fat Insurance Brokers is not an authorised broker, agent or insurer and any policies arranged through the broker may be fake.

“If members of the public have purchased motor insurance policies arranged by Wang Fat, they should report it to the Hong Kong Police Force, which has taken up the matter for further investigation,” the commissioner said in a statement.

The warning against Wang Fat follows similar concerns regarding Lip Shing Insurance as the commissioner warned the public of a scam involving fake car insurance policies purporting to be from five major insurers. reported that four people were arrested under suspicion of selling fake car insurance policies to at least 26 people in relation to Lip Shing. Two men and two women, aged between 17 and 24 were arrested for suspected conspiracy to defraud and money laundering.

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