Hong Kong’s insurance agency takes control of Target after the car insurer abandoned 60 percent of the city’s taxis

Hong Kong’s insurance agency takes control of Target after the car insurer abandoned 60 percent of the city’s taxis




The Hong Kong Insurance Commission has taken control of an insurer who is unable to further insure the majority of the city’s taxis at the first enforcement of its seizure agency. All of the assets and businesses of Target Insurance Company Limited were seized on Friday in an enforcement aimed at “maintaining market stability and protecting the interests of policyholders,” according to the Hong Kong Insurance Agency. According to the Insurance Ordinance (C 41), the supervisory authority has a wide range of….

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The Hong Kong Insurance Commission has taken control of an insurer who is unable to further insure the majority of the city’s taxis at the first enforcement of its seizure agency. All of the assets and businesses of Target Insurance Company Limited were seized on Friday in an enforcement aimed at “maintaining market stability and protecting the interests of policyholders,” according to the Hong Kong Insurance Agency. According to the Insurance Ordinance (C 41), the supervisory authority has a wide range of….

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