Media Release

The Insurance Claims Complaints Bureau has changed its name to The Insurance Complaints Bureau on 16 January 2018

The Insurance Claims Complaints Bureau (ICCB), which was established in February 1990, has changed its company name to The Insurance Complaints Bureau (ICB) with effect from yesterday (Tuesday, 16 January 2018).  This is the outcome of a holistic review by the industry to improve its consumer protection framework.  Specifically, the new ICB will provide consumers with a one-stop, convenient, effective and freely accessible platform in helping resolve all insurance-related disputes of monetary value.

The revamped ICB:

1. has a new governance structure with majority non-industry members forming the Board of Directors to enhance its independence;
2. is chaired by an independent non-industry member;
3. will expand its scope of jurisdiction to handle non-claim related insurance disputes; and
4. will introduce mediation services for handling complaints not related to claims.

The General Committee of the new ICB consists of:

Chairman	Mrs Pamela Chan Wong Shui, BBS, JP
Non-industry Members	Mr Herbert H K Tsoi, BBS, JP Mr Paul F Winkelmann Prof Paul S F Yip
Industry Members	Mr Stuart Harrison, Chairman of the Hong Kong Federation of Insurers (HKFI) Mr P L Chan, Deputy Chairman of HKFI Mr Mike S C Lee

 

“I feel honoured to take up this important role as the inaugural Chairman of the ICB given the increasing importance of insurance to our everyday life,” said Mrs Pamela Chan Wong Shui, Chairman of the ICB.  “I look forward to working with all stakeholders to ensure the effective functioning of this dispute resolution platform to protect the legitimate interests of policyholders,” added Mrs Chan, who was the Chief Executive of Consumer Council from 1985 to 2007.

For disputes related to claims, they will continue to be handled by way of adjudication.  And the relevant work will continue to be performed by the Insurance Claims Complaints Panel (Complaints Panel) with the support of independent industry professionals.  As for those not related to claims but with monetary value, the ICB will introduce new mediation service in Q2 2018.  A panel of mediators will be set up in due course for the parties concerned to select for the provision of such service. 

The adjudication service offered by the Complaints Panel is free to consumers.  For new mediation service, the initial idea is that it will be offered for free as well, but it will be subjected to review in future.

The objective of the ICB is to provide an independent and cost-effective alternate dispute resolution process which allows the insuring public to resolve and settle their complaints in respect of their personal insurance contracts.  Its current jurisdiction limit is HK$1,000,000. 

The ICB currently has 107 Members.  As a licensing condition, all authorised insurers carrying on any personal insurance business in Hong Kong are required to apply to and become members of the ICB.  The operating costs of the ICB come from annual subscriptions of Member Insurers.