Insurance Ordinance definition

Insurance Ordinance means the Insurance Ordinance (Cap. 41 of the Laws of Hong Kong).

Insurance Ordinance means the Insurance Ordinance (Cap. 41 of the Laws of Hong Kong)."Insured Person"shall mean any person whose risks are covered by these Terms and Benefits, and named as the "Insured Person" in the Policy Schedule."Intensive Care Unit"shall mean that part or unit of a Hospital established for and devoted to providing intensive medical and nursing care for Inpatients."Lifetime Benefit Limit"shall mean the maximum amount of benefits paid by the Company to the Policy Holder cumulatively since the inception of these Terms and Benefits, irrespective whether any limits of any benefit items stated in the Benefit Schedule have been reached or whether the Annual Benefit Limit in a Policy Year has been reached."Medical Services"shall mean Medically Necessary services, including, as the context requires, Confinement, treatments, procedures, tests, examinations or other related services for the investigation or treatment of a Disability."Medically Necessary"shall mean the need to have medical service for the purpose of investigating or treating the relevant Disability in accordance with the generally accepted standards of medical practice and such medical service must – (a)require the expertise of, or be referred, by a Registered Medical Practitioner; (b)be consistent with the diagnosis and necessary for the investigation and treatment of the Disability; (c)be rendered in accordance with standards of good and prudent medical practice, and not be rendered primarily for the convenience or the comfort of the Insured Person, his family, caretaker or the attending Registered Medical Practitioner; (d)be rendered in the setting that is most appropriate in the circumstances and in accordance with the generally accepted standards of medical practice for the medical services; and (e)be furnished at the most appropriate level which, in the prudent professional judgment of the attending Registered Medical Practitioner, can be safely and effectively provided to the Insured Person. For the purpose of these Terms and Benefits, without prejudice to the generality of the foregoing, circumstances where a Confinement is considered Medically Necessaryinclude, but not limited to -

Insurance Ordinance means the Insurance Ordinance (Cap. 41 of the Laws of Hong Kong). "Insured Person" shall mean any person whose risks are covered by these Terms and Benefits,

Examples of Insurance Ordinance in a sentence

• This represents carrying amount of government securities placed as statutory deposit with the State Bank of Pakistan in accordance with the requirements of Section 29(2)(a) of the Insurance Ordinance, 2000.

• The Group’s other operating entities in Hong Kong, including AIA Co. and AIA Everest, remain subject to the current Hong Kong Insurance Ordinance (HKIO) basis and will be subject to the revised legislation when it takes effect.

• Any unresolved complaint or dispute between a Participant and the Pension Fund Manager under the VPS Rules, it shall be referred to the Takaful Ombudsman appointed under Section 125 of the Insurance Ordinance, 2000.

• Where the provisions of and directives issued under the Companies Act, 2017, Insurance Ordinance, 2000, the Insurance Rules, 2017, the Insurance Accounting Regulations, 2017 and Takaful Rules, 2012 differ with the requirements of IAS 34, the provisions of and directives issued under the Companies Act, 2017, the Insurance Ordinance, 2000, the Insurance Rules, 2017, the Insurance Accounting Regulations, 2017 and the Takaful Rules, 2012 have been followed.

• On 3 October 2017, the Group disposed of its 100% interest in FWD Pension Trust Limited and the MPF business (excluding policies relating to products classified as Class G of Long Term Business under the Hong Kong Insurance Ordinance ("Class G Policies")), for a total consideration of US$38,000,000.

• Hong Kong Life has ceased to have the requisite authorisation under the Insurance Ordinance to write or continue to write the Policy;Immediately following the termination of the Policy, insurance coverage under the Policy shall cease to be in force.

• The Takaful Ombudsman shall have all the powers and shall follow the procedures as required under PART XVI of the Insurance Ordinance, 2000.

• The accounting and reporting standards as applicable in Pakistan for interim financial reporting comprise of: - International Accounting Standard (IAS) 34, "Interim Financial Reporting", issued by the International Accounting Standards Board (IASB) as notified under the Companies Act, 2017; and - Provisions of and directives issued under the Companies Act, 2017, the Insurance Ordinance, 2000, the Insurance Rules, 2017, the Insurance Accounting Regulations, 2017 and the Takaful Rules, 2012.

More Definitions of Insurance Ordinance

Insurance Ordinance the Insurance Ordinance (Chapter 41 of the laws of Hong Kong)

Insurance Ordinance. ’ means Insurance Ordinance (Chapter 41 of the Laws of

Insurance Ordinance means Insurance Ordinance (Cap. 41 of the laws of Hong Kong)