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Joseph Chan: Insurers Encouraged to Develop More Cross-border Elderly Care Insurance Products to Promote Silver Econ
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The Hong Kong government announced 30 measures to be implemented by the Working Group on Promoting Silver Economy, which are categorized into five areas, namely boosting 'silver consumption', developing 'silver industry', promoting 'quality assurance of silver products', enhancing 'silver financial and security arrangements', and unleashing 'silver productivity'. The authorities will encourage the insurance industry to develop more cross-boundary elderly care insurance products, Under Secretary for Financial Services and the Treasury, Joseph Chan, said. The Insurance Authority (IA) is also negotiating with a large insurance group in mainland China that has experience in combining insurance and elderly services, encouraging them to settle down in Hong Kong. Furthermore, the legal sector will further promote Three Instruments of Peace, i.e. a will, an enduring power of attorney (EPA) and an advance medical directive (AMD). AASTOCKS Financial News Website: www.aastocks.com |
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