WEDNESDAY, DECEMBER 7, 1988
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MARKET FORCES DETERMINE INSURANCE PREMIUM LEVELS
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THE GOVERNMENT HAS NO PLANS TO AMEND EXISTING LEGISLATION TO PROVIDE FOR THE CONTROL OF INSURANCE PREMIUMS FOR MOTOR VEHICLES, THE FINANCIAL SECRETARY, THE HON PIERS JACOBS, TOLD THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
REPLYING TO A QUESTION
MR
FROM THE HON SO CHAU YIM-PING, JACOBS SAID THE PROPER LEVEL OF INSURANCE PREMIUMS HAD ΤΟ BE DETERMINED BY MARKET FORCES, AND NOT BY GOVERNMENT INTERVENTION.
HE POINTED OUT THAT THERE WAS NO WAY IN WHICH THE GOVERNMENT COULD CONTROL THE LEVEL OF CLAIMS.
"PREMIUM INCOME IS
NEEDED то MEET CLAIMS, AND IF THE GOVERNMENT WERE TO DICTATE THE LEVEL OF PREMIUM, THEN INSURANCE COMPANIES, FACED AS THEY ARE WITH CLAIMS UNDER THEIR POLICIES, MIGHT FIND THEMSELVES IN FINANCIAL DIFFICULTIES AND CEASE TO WRITE POLICIES ALTOGETHER,' HE ADDED.
SUFFICIENT GUIDANCE GIVEN TO PROTECT CONFIDENTIAL INFORMATION
THE GUIDANCE TO PUBLIC OFFICERS IN THE GOVERNMENT'S SECURITY REGULATIONS IS SUFFICIENT TO KEEP CASES OF CARELESS DISCLOSURE OF CONFIDENTIAL INFORMATION TO UNAUTHORISED PERSONS то A MINIMUM, THE ACTING SECRETARY FOR SECURITY, THE HON ROBERT UPTON, TOLD THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
"THESE REGULATIONS, WHICH COVER BOTH SECURITY OF DOCUMENTS AND SECURITY OF PREMISES, ARE REVIEWED REGULARLY, MR UPTON SAID WHEN REPLYING A QUESTION FROM THE HON HO SAI-CHU CONCERNING LEAKAGE OF CONFIDENTIAL GOVERNMENT INFORMATION.
THE REGULATIONS PROVIDED THE BASIS FOR DISCIPLINARY ACTION IN ALL CASES, HE SAID.
HOWEVER, IN A CASE WHERE AN ATTEMPT TO DO DELIBERATE DAMAGE WAS DEMONSTRATED, CRIMINAL ACTION WOULD ALSO BE CONSIDERED UNDER AN APPROPRIATE ORDINANCE.
"I BELIEVE THAT THESE MEASURES ARE, GENERALLY SPEAKING, QUITE ADEQUATE," MR UPTON SAID.
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