FAQ - IHI Hong Kong Branch

What is happening to IHI’s portfolio in Hong Kong and why?

It is proposed to merged the operations of two insurance companies in Hong Kong – BUPA (Asia) Ltd (“Bupa Asia”) and Hong Kong branch of International Health Insurance danmark a/s (IHI).

Both companies are part of the Bupa one of the world’s leading health and care organisations. The merger will make the legal structure simpler and more efficient.

IHI’s Hong Kong branch will be closed and its policyholders and staff will be transferred to Bupa Asia.

What does this mean for me?

IHI will be applying to the Hong Kong Insurance Authority for permission to transfer its business to Bupa Asia and close the branch on 1 August 2008, from this date IHI will stop being able to renew or sell any policies in Hong Kong, Bupa Asia will instead take on all the policies that are renewed or sold from 1 August 2008.

Who does this affect?

We will write directly to everybody affected by the change. However in broad terms, the IHI customers that will be affected are:

- All corporate customers where the company is based in Hong Kong.

- All policyholders who have purchased IHI cover through a Hong Kong based broker or intermediary,

- All individual online-customers based in Hong Kong.

Will there be any changes in regard to the cover under the existing policies after the transfer process?

No - the benefits and cover will remain exactly the same.

Will any rights under the existing policies be affected after or as a result of the transfer process?

Yes - after the transfer your product will be regulated by the Hong Kong Insurance Authority, and Hong Kong law will apply to your policy. You will be able to take any complaints to the Insurance Claims Complaints Bureau in Hong Kong.

This means for example that an appeal against a claims decision can be reviewed in English instead of only Danish as is currently the case.

Is the policy-holder required to do anything? (i.e. give consent to the transfer process or consult with the employees who are covered under the affected policies)?

No.

Who should be contacted to make claims during the transfer process?

There is no change. The same teams/telephone numbers/websites as you currently use.

Who should be contacted to register/de-register employees from the existing policy?

There is no change. The same teams/telephone numbers/websites as you currently use.

Who should be contacted if policy-holders want to renew the policy during the transfer process?

IHI will, for the time being, continue to manage this process. You will be sent renewal letters at the appropriate time to tell you how to renew your policy.

Who should be contacted if policy-holders have any specific queries regarding the transfer process?

Contact transfer-enquiries-hk@ihi.com or                + 852 2517 5520

Will the existing insurance agent or broker be replaced by a new representative?

No - all agents and brokers will be able to deal with BUPA Asia on the same basis as they currently do with IHI danmark a/s.

Does the policy-holder need to enter into a new insurance contract with the new insurer?

No, on transfer your existing policy will automatically be amended to include BUPA (Asia) Ltd as the insurer.

Will medical cards issued by IHI continue to be accepted by the hospitals and clinics?

Yes.

 

What happens to my personal and medical data?

IHI will be transferring your data to BUPA (Asia) Ltd, it will remain protected according to EU data protection standards and the standards set out by the Hong Kong Commissioner for Personal Data.

What happens if I do not want to transfer to Bupa Asia?

Once IHI’s branch in Hong Kong is closed IHI will not be able to offer insurance through any broker based in Hong Kong, nor will it be able to offer insurance to online customers who are based in Hong Kong. You may cancel your policy by giving 30 days notice prior to the renewal date.

What if I have an ongoing claim?

Claims will continue to be handled by the same teams. All claims that you incur after your renewal will be handled by Bupa Asia.

Further questions?

Could you not find your answer? Please contact us at  transfer-enquiries-hk@ihi.com or                + 852 2517 5520