QBE Hong Kong Partners’ Newsletter

New Calculation Method Applied on EC Quote

 

  

product-updates

EC Rates

WE HEARD YOU & TOOK ACTION!


Split EC Rates on SME Business Insurance Solution (NEW)  

 

With effect from 18 September, a new calculation method is applied to the EC premium of SME Business Insurance Solution (NEW). This should improve our competitiveness in the market significantly and allow us all to capture more wins. 

EC premium for Clerical vs Other Staff will be calculated in split rates. Hence you may obtain a lower premium if the insured mainly employed clerical staff. On the other hand, a higher overall premium will be quoted while the insured mainly employed manual workers.

Qnect screen

Important Reminder:
Entering the occupation details accurately is extremely important.

We prepared the following case studies for your easy understanding, Please contact your Agency Manager for a briefing session and learn more about the advantage of the new calculation method.

EC Table

 

 

IRP-dec

Interior Renovation Prestige


A comprehensive cover for Home, office and shop renovation works. You can now opt for various options of covers to meet your client's needs. Most importantly, you can now issue an "Insurance Certificate" immediately.

 

Discount Promotion

You can enjoy 10% premium discount on Interior Renovation Prestige via Qnect during the campaign period until 31 December 2022.

 

Key Features

  • Insured building age extended from 40 to 50 years 

  • Contract value extended to $5,000,000

  • The contract period extended from 3 months to 12 months

  • The warranty period extended from 3 months to 12 months

  • Competitive commission rate for all sessions at 25%

You may refer to the product brochure for more details. 

Travel-dec 

 


Travel Insurance

 

How exciting! Everyone starts planning for the next trip under the current quarantine measure "0+3" inbound arrangement. You can travel worry-free with our Annual Travel Policy and Single Trip Travel Policy and enjoy the discount promotion until 31 December 2022
 

  Discount Promotion  

From 1 September to 31 December 2022, you can enjoy:

  • 20% premium discount on Annual Travel Policy
  • 10% premium discount on Single Trip Travel Policy

 

 

 Key Features of COVID-19 Extension: 

With effect from 1 June 2022, QBE Hong Kong will offer COVID-19 Extension Coverage as part of the existing Annual Travel Policy and newly applied Single Trip Travel Policy, giving all-rounded protection to our customers. 
  • Diagnosed during compulsory quarantine period upon return to HK new-icon
  • Up to a maximum of HK$1,000,000 related to COVID-19
  • Hospital or Quarantine Allowance
  • Trip Cancellation
  • Trip Curtailment 
  • Automatically extend the Period of Insurance up to 21 days due to flight banned

 

Newly Added Staycation Cover: new-icon

 
Staycation is becoming more popular in Hong Kong. We are aware of the need for a staycation cover under travel insurance. Therefore, with effect from 1 June 2022, staycation in Hong Kong will be covered under Annual Travel Policy.
  • Trip Cancellation
  • Personal Accident

 

You may refer to the Extension Coverage Endorsement (Annual Travel / Single Trip Travel) to learn more about the coverage details. Other terms, conditions and exclusions are subject to the Policy Wording.

 annual_travel single_travel 

 

 

Motor Insurance Updates

Motor Insurance Updates 

MIB - Levy rate reinstatement with effect from 1 Oct 2022


The Motor Insurers' Bureau of Hong Kong (MIB) will reinstate to collect the following two Levies with effect from 1 Oct 2022.
  • 1% for the First Fund Scheme; and
  • 2% for the Insolvency Fund Scheme.
The MIB Levies rate should apply to gross premiums receivable for new risks attaching on or after 1 October 2022. These cover the following:
  • Premiums for policies renewed for periods starting on or after 1 October 2022;
  • Premiums for new policies effected for periods starting on or after 1 October 2022;
  • Additional premiums for endorsements made for new risks attached to periods starting on or after 1 October 2022.
No refunds for the suspended contribution will be made for cancellation and return of policies effected between 1 October 2021 and 30 September 2022. 

For further details, please visit MIB’s official website: 
http://www.mibhk.com.hk/eng/index.php.
 
 

Qnect Top Tips

Qnect Top Tips

   

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When you encounter any problems while using Qnect, you can click "Ask QBE" to initiate a real-time conversation with our team anytime. We can also leverage the co-browsing feature, which enables us to view your screen on Qnect. As a result, it's better to understand your needs and provide immediate assistance and support.



Your enquiries include:
- Qnect login issues and password reset
- Questions about quotation/ endorsement / renewal
- Questions of My Portfolio (Manage policies/ Manage renewals/ Manage payments )
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Feel free to contact your QBE Agency Manager if you have any feedback or require any support.

 

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