04 April 2023
The increased compensation amount in Employees’ Compensation Ordinance and related additional premium
The Legislative Council passed three resolutions on 15 March 2023 to increase the amounts of a total of 18 compensation items under Employees’ Compensation Ordinance, the Pneumoconiosis and Mesothelioma (Compensation) Ordinance and the Occupational Deafness (Compensation) Ordinance. The adjusted levels of compensation will come into effect on 13 April 2023.
The minimum annual salary has been increased from $63,720 to $66,000 ($5,500 * 12 months)
For details, please refer to the following https://www.labour.gov.hk/eng/news/ECO_PMCO_ODCO_Amendment_2023.htm
Due to the increased compensation amount, the insurance company will issue the endorsement & debit note accordingly
30 Sep 2022
Collection of levies by Motor Insurers’ Bureau of Hong Kong
Motor Insurers’ Bureau of Hong Kong will resume to collect the levies effective from 01 Oct 2022
The amount of levies equals to 3% of the policy premium
30 July 2021
Motor Insurers’ Bureau of Hong Kong to suspend collection of levies for one year
The Motor Insurers’ Bureau of Hong Kong (MIB) today (30 July 2021) announces the suspension of levies for 12 months in view of the current severe economic impact of Covid-19 on the community of Hong Kong.
After considering actuarial advice and with the support of the Insurance Authority and Government, the MIB Council decided to financially assist the public by stopping collecting the following two Levies for a 12-month period between 1 October 2021 and 30 September 2022:
– 0% (currently 1%) for the First Fund Scheme; and
– 0% (currently 2%) for the Insolvency Fund Scheme.
The levy rates suspension should apply to gross premiums receivable for new risks attaching on or after 1 October 2021. These cover the following:
(1) premiums for policies renewed for periods starting on or after 1 October 2021;
(2) premiums for new policies effected for periods starting on or after 1 October 2021; and
(3) additional premiums for endorsements made for new risks attached to periods starting on or after I October 2021.
For refunds due to cancellations and returns of policies effected before 1 October 2021, the current levy rates shall apply
MIB’s official website: http://www.mibhk.com.hk/eng/index.php
15 April 2021
The increased compensation amount in Employees’ Compensation Ordinance and related additional premium
The Legislative Council passed three resolutions on 17 March 2021 to increase the amounts of a total of 18 compensation items under Employees’ Compensation Ordinance, the Pneumoconiosis and Mesothelioma (Compensation) Ordinance and the Occupational Deafness (Compensation) Ordinance. The adjusted levels of compensation have come into effect on 15 April 2021.
The minimum annual salary has been increased from $54,000 to $63,720 ($5,310 * 12 months)
For details, please refer to the following https://www.labour.gov.hk/eng/news/ECO_PMCO_ODCO_Amendment_2021.htm
Due to the increased compensation amount, the insurance company will issue the endorsement & debit note accordingly
12 March 2021
Insurance Authority Levy
Starting from 1 April 2021, the Insurance Authority (IA) will collect a levy on insurance premiums from policy holders through insurance companies. The levy rate will be 0.1% of the insurance premium, and there will be a levy cap. Policy holders must pay the levy in accordance with the law, and insurance companies will inform them of the related arrangements.
For details, please refer to IA website
https://www.ia.org.hk/en/levy
Since there are different approach by the insurers towards the IA levy, you may refer to the enclosed attachment of the renewal notice, which the IA levy amount will be reflected accordingly
18 Dec 2020
Prevention Measures (updated)
As there is still severe spread of the coronavirus, our office is still adopting the flexible work arrangement, in the meantime, please do not hesitate to reach us through telephone or email. We apologize for the delay on the enquires.
29 Jan 2020
Prevention Measures
Due to the wide spread situation of coronavirus, our office will now introduce flexible work arrangements in order to minimize the risk during commuting. We try to minimize the effect on normal office operation and we apologize for the delay on the enquires.
17 March 2020
Insurance Authority Levy
Starting from 1 April 2020, the Insurance Authority (IA) will collect a levy on insurance premiums from policy holders through insurance companies. The levy rate will be 0.085% of the insurance premium, and there will be a levy cap. Policy holders must pay the levy in accordance with the law, and insurance companies will inform them of the related arrangements.
For details, please refer to IA website
https://www.ia.org.hk/en/levy
Since there are different approach by the insurers towards the IA levy, you may refer to the enclosed attachment of the renewal notice, which the IA levy amount will be reflected accordingly
01 April 2019
Insurance Authority Levy
Starting from 1 April 2019, the Insurance Authority (IA) will collect a levy on insurance premiums from policy holders through insurance companies. The levy rate will be 0.06% of the insurance premium, and there will be a levy cap. Policy holders must pay the levy in accordance with the law, and insurance companies will inform them of the related arrangements.
For details, please refer to IA website
https://www.ia.org.hk/en/levy
Since there are different approach by the insurers towards the IA levy, you may refer to the enclosed attachment of the renewal notice, which the IA levy amount will be reflected accordingly
01 January 2019
Employees’ Compensation
For all employees’ compensation insurance effective from 1 January 2019, Apart from the premium adjustment & declaration of earnings form, employers are required to provide the following document
(1) Latest MPF contribution records, financial statement, tax returns or other relevant document
(2) Proposal / Renewal Form for employees’ compensation insurance
As the requirement varies over different insurance companies, clients are advised to read through the renewal notice issued by our company. If you have any enquiry, please contact your insurance representative.
06 December 2017
Insurance Authority Levy
Starting from 1 January 2018, the Insurance Authority (IA) will collect a levy on insurance premiums from policy holders through insurance companies. The levy rate in the first phase will be 0.04% of the insurance premium, and there will be a levy cap. Policy holders must pay the levy in accordance with the law, and insurance companies will inform them of the related arrangements.
For details, please refer to IA website
https://www.ia.org.hk/en
Since there are different approach by the insurers towards the IA levy, you may refer to the enclosed attachment of the renewal notice, which the IA levy amount will be reflected accordingly
11 November 2016
Address Update
The renovation has been completed and please note the below new information.
The telephone number, fax number and email remains the same.
L&C Insurance office information
Telephone Number: 2724 1832
Fax Number: 2739 6467
Address: Room 303-306, 3/F., Cheung Fung Commercial Building, 21-25 Cheung Sha Wan Road, Kowloon, H.K.
23 December 2015
Our website has been revamped
L&C Insurance is excited to announce the launch of our revamped website in December 2015.
The new coding enhance the readability of the mobile device user.
Mobile user will find a
icon on the top right hand corner which user may click and expand the full menu in order to access to the insurance information.
Should you have any queries regarding our revamped website, please contact us on 2724 1832.