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(c)

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20

The total number and categories of complaints concerning the operation of insurance companies received by the Office of the Commissioner of Insurance in 1994, 1995 and 1996 are as follows:

Nature of Complaints

Number of Complaints

1994

1995

1996

Delay in Settlement

-

2

6

Quantum of Indemnity/

4

6

6

Surrender Value

Repudiation of Liability

5

5

Cancellation/Non-renewal of Policy

2

-

اليا

3

Twisting of Policies

1

2

Misrepresentation

2

4

Transfer of Business

-

2

Poor Service

3

4

Quality of management of insurer

4

Others

Total

2

5

10

9

29

40

Prevention of corporate fraud and mismanagement

Following is a question by the Hon Eric Li Ka-cheung and a written reply by the Secretary for Financial Services, Mr Rafael Hui, in the Legislative Council today (Wednesday):

Question:

Will the Government inform this Council whether it is aware of the specific actions taken by the Stock Exchange of Hong Kong (SEHK) and the Securities and Futures Commission (SFC) since January 1995 to improve corporate governance with a view to preventing corporate fraud and mismanagement; if so, does the Government know of the following:

(a)

the total provisions set aside by SEHK and SFC respectively for the above purpose in the last two years;