Kin Thai Insurance Agency Limited ("The Company") is incorporated in Hong Kong under company number 0078750. We are a registered member of and regulated by the Insurance Authority (Licence No.: FA2924). If you have any queries, please contact us at Room 606, 6/F, Hua Qin International Building, 340 Queen's Road Central, Sheung Wan, Hong Kong.
These Terms of Business set out the basis and extent which we will provide you with services in relation to each and every contract of insurance which we arrange on your behalf. Please read these terms carefully. All work carried out by us subject to these terms except where changes are expressly agreed in writing by both parties. We retain the right to amend these Terms of Business from time to time by giving written notice to you.
We give advice and make recommendation on insurance products. Where we do not give advice you will be informed at the outset. On these we will ask questions to narrow down the selection of policies and supply details of them. You will then make your own choice on how to proceed.
All quotations are given on the basis of "Utmost good faith".
You must act with utmost good faith toward the insurer and provide honest and accurate information at all times. This obligation applies at the time of applying for the policy and continues throughout the duration of the policy.
Insurers must be presented with a fair and complete statement of the nature of any risk submitted to them. If you do not provide complete and accurate information, containing all material facts and circumstances, then your policy may not be valid in the event of a claim or a higher premium may be payable.
A circumstance is material if it would influence the judgment of a prudent insurer in calculating the premium or assessing whether he would accept the risk. Accordingly, you must provide all the facts material within such a submission and update this information where relevant between initial enquiry and attachment of any cover and during the term of any policy. This applies equally to new orders, adjustments, renewals, extensions of cover, endorsements and claims.
We are required to take all reasonable steps to establish the true and full identity of our clients and to comply with applicable anti-money laundering and anti-terrorist financing legislation. We shall inform you of what know your clients details and documents that we shall require you to provide to us.
We shall arrange for the insurance policy, a certificate of insurance and if applicable any placing slip of cover note to be issued to you as soon as is practicable, where an insurer has approved issuing a policy to you. You must retain copies of policy documentation as this will be required to administer your policy and process any claims.
We may contact you prior to the expiry of any policy to consider if you wish to make a renewal and to notify you of the then current premium for such policy and any changes that have been made to the policy terms. If the insurer no longer offers such a policy, or you have ceased to be eligible for such policy we may introduce to you other policies which may be of interest, from that insurer and/or from other insurers.
You must notify us immediately in writing or any claim, or circumstance likely to give rise to a claim. Failure to notify within applicable timescales set out in your insurance policy may entitle your insurer to deny cover in respect of your claim. Where we handle a claim on your behalf we will do so fairly and reasonably promptly.
The Contract may be terminated upon a separate written agreement of the parties, written request of the Policyholder, court judgment or the Insurer's notice in cases and under procedure laid down in the Contract and/or the applicable law. We recommend that you contact us before seeking to cancel any policy.
Our total liability to you shall be limited to the amount of the commission we receive in respect of the policy that you have place through us.
We accept no liability (whether in tort (including negligence), contract, statue or otherwise) for any indirect, special or consequential loss or damage whatsoever arising from or in connection with the services.
You agree that any claims shall only be bought against Kin Thai Insurance Agency Limited and no claim shall be brought against any of its employees, directors or officers.
We shall treat all information which you pass to us as private and confidential and will only disclose such information for the purpose of negotiating, maintaining or renewing the insurance which we have been instructed to place, unless you have consented otherwise.
Each of us shall comply with the Personal Data (Privacy) Ordinance (Chapter 486 of the Laws of Hong Kong).
To exercise the duties established by applicable law and related to money laundering and terrorism financing prevention, the Insurer shall be entitled:
1/ during conclusion or performance of the Contract, to require the Policyholder to submit data and/or documents, necessary in the Insurer's opinion, related to the Policyholder's identification, activities or business, specific transactions and persons, related to them;
2/ to refuse to perform any instruction, order or operation;
3/ to unilaterally terminate the Contract with the immediately effective notice and without a prior notification in case of reasonable suspicion of the Insurer regarding money laundering and/or terrorism financing;
4/ to take any reasonable and legal means in order to duly implement the duties set out by the applicable law and use the respective rights.
None of the contractual parties shall be liable for partial or full failure to perform the assumed obligations, if such failure to perform is caused by force majeure, i.e. events, which such party could not control or reasonable foreseen during conclusion of the Contract and could not prevent the occurrence of such events or their consequences. A contractual party, which cannot perform the obligations assumed under the Contract due to force majeure, shall immediately inform the other party in writing thereof.
These Terms and Conditions and any dispute or claim arising out of or in connection with them or their subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the law of Hong Kong. The Hong Kong courts will have exclusive jurisdiction over any claim although we retain the right to bring proceedings against you for breach of these conditions in your country of residence or any other relevant country.