Hong Kong Insurance Authority warns against unlicensed insurer website

Industry watchdog issues advice for consumers

Hong Kong Insurance Authority warns against unlicensed insurer website


By Roxanne Libatique

Hong Kong's Insurance Authority (IA) has alerted the community to the presence of a questionable website operating under the URL "https://www.procap.insure/".

This website claims affiliation with “ProCap International,” a firm that has not received authorisation as an insurer or insurance intermediary in accordance with the Insurance Ordinance (Cap. 41), a regulatory framework for insurance operations in Hong Kong.

Risks associated with engaging with unverified entities

The IA's notification is aimed at enhancing public awareness about the risks associated with engaging with unverified entities online that offer insurance services.

The authority emphasised the necessity for individuals to authenticate the credentials of any company claiming to provide insurance-related services in Hong Kong or from within its jurisdiction.

Insurance Authority offers advice on dealing with suspicious websites

To facilitate this verification process, the IA recommends that individuals consult the official IA website. There, the Register of Insurers and the Register of Licensed Insurance Intermediaries are accessible, listing all entities officially sanctioned to offer insurance services in Hong Kong.

This initiative is part of the IA's comprehensive strategy to protect consumers from unauthorised insurance activities and to maintain the integrity of the local insurance marketplace.

The IA recently entered an agreement with the Hong Kong Police Force to collaborate in investigative efforts and share important information.

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