Jump to ContentJump to Main Navigation
Enriching LivesA History of Insurance in Hong Kong, 1841-2010$
Users without a subscription are not able to see the full content.

Bangyan Feng Mee Kau Nyaw and Mee Kau Nyaw

Print publication date: 2010

Print ISBN-13: 9789888028702

Published to Hong Kong Scholarship Online: September 2011

DOI: 10.5790/hongkong/9789888028702.001.0001

Show Summary Details
Page of

PRINTED FROM HONG KONG SCHOLARSHIP ONLINE (www.hongkong.universitypressscholarship.com). (c) Copyright Hong Kong University Press, 2017. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a monograph in HKSO for personal use (for details see http://www.hongkong.universitypressscholarship.com/page/privacy-policy).date: 18 December 2017

The Formation and Evolution of Industry Supervision

The Formation and Evolution of Industry Supervision

Chapter:
(p.128) (p.129) Chapter 5 The Formation and Evolution of Industry Supervision
Source:
Enriching Lives
Author(s):

Feng Bangyan

Nyaw Mee Kau

, Violet Law
Publisher:
Hong Kong University Press
DOI:10.5790/hongkong/9789888028702.003.0006

The earliest government regulations on the insurance industry were embodied in laws governing other economic activities, such as the Companies Ordinance and the Workmen's Compensation Ordinance. In the 1950s, the Hong Kong government set about laying down laws for the insurance sector. Hence, both the Third Party Ordinance and the Motor Vehicles Insurance Ordinance were enacted. In 1961, Hong Kong's legislature passed the Marine Insurance Ordinance, based on Britain's Marine Insurance Act of 1906, which was drafted by Sir Mackenzie Dalzell Chalmers, the parliamentary counsel to the Treasury. This act has stood as the model marine insurance act for many other countries. However, even before the mid-1970s, primarily reflecting its laissez faire economic policy, the government's supervision of the sector was rather lax. All it took to start a business was to show some cash, and not much for that matter.

Keywords:   government regulations, insurance industry, Companies Ordinance, Workmen's Compensation Ordinance, Hong Kong, Third Party Ordinance, Motor Vehicles Insurance Ordinance, Mackenzie Dalzell Chalmers, laissez faire

Hong Kong Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .