Ensure a Genuine 2nd Round Consultation for the Independent Insurance Authority

The Deputy Chairman [KP Chan] said that the Administration had promised the insurance sector a second round consultation on the IIA proposals. The sector was worried that the Administration would simply take forward the proposal without taking into account its feedback when finalizing the legislative proposals. He sought the Administration’s assurance that the second round consultation would be a ‘genuine consultation’. SFST assured Members that the Administration would engage the sector in the process before finalizing the bill and there would be ‘genuine consultation’.

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