I. Insurance Products 保險產品

Motor insurance distinguishes vehicle use, third party legal liability and damage to the insured vehicle itself. Private vehicles, motor cycles and commercial vehicles share the same compulsory third party death and injury framework, but differ in own damage cover, passenger liability, no claim discounts and exclusions.

Private Vehicle · Motor Cycle · Commercial Vehicle

Health insurance protects the person and is studied here as general insurance; candidates must distinguish accident and disablement benefits, medical expense indemnity and hospital cash benefits. VHIS sets certification requirements for individual indemnity hospital insurance, while GL31 sets expected standards for fair treatment across medical insurance business.

Personal Accident and Sickness Insurance · Medical Insurance · Voluntary Health Insurance Scheme (“VHIS”) · Guideline on Medical Insurance Business (GL31)

Combined and package policies bring several types of insurance into one policy document, covering household, domestic helper, travel or commercial risks. A combined policy underwrites and rates each class separately; a package policy has predetermined cover restrictions, sums insured and liability limits, with a different rating structure. [IA study notes, section 1.3](https://www.ia.org.hk/en/supervision/reg_ins_intermediaries/files/P2_2022_StudyNotes_Eng_2023corrigendum.pdf#page=46)

Household Insurance · Domestic Helper Insurance · Travel Insurance · Commercial Combined Policies

Property insurance covers physical property, while pecuniary insurance protects intangible financial interests affected by insured events. Assessing cover requires an understanding of insured perils, exclusions and policy conditions, together with the three-party relationship and recovery rights under surety bonds.

Fire and Extra Perils Insurance · Property “All Risks” Insurance · Theft Insurance · Glass Insurance · Money Insurance · Fidelity Guarantee Insurance · Surety Bonds

Engineering insurance addresses boiler and pressure vessel accidents, breakdown of installed machinery, and property and related liability risks during construction and erection projects. Cover depends on the cause, project stage and subject matter; “all risks” cover remains subject to exclusions, deductibles and limits.

Boiler Explosion Insurance · Machinery Breakdown Insurance · Contractors’ “All Risks” Insurance · Erection “All Risks” Insurance

Liability insurance mainly covers the insured’s legal liability to third parties; injury or damage alone does not establish cover for damages. Distinguish the five types by the capacity in which liability arises, the cover trigger, limits and exclusions.

Employers’ Liability Insurance · Products Liability Insurance · Professional Indemnity Insurance · Directors’ and Officers’ Liability Insurance · Public Liability Insurance

Marine insurance requires candidates to distinguish cargo, hull and pleasure craft cover, and understand general average, salvage and total losses. Compulsory third party death or bodily injury insurance for local vessels has separate minimum limits and exceptions.

Marine Cargo Insurance · Marine Hull Insurance · Pleasure Craft Insurance · Statutory Requirements for Third Party Risks