Information about Us

 

InsureDIY Limited is incorporated in Hong Kong under company number 1835633 and has its registered office at Level 10, Central Building, 1-3 Pedder Street, Central, Hong Kong.

 

We are a registered member of and regulated by the Professional Insurance Brokers Association in Hong Kong. We intermediate general insurance and long term insurance (excluding Class C Investment Linked Insurance) through our web based platform.

 

If you have any queries, please contact us at Level 10, Central Building, 1-3 Pedder Street, Central, Hong Kong or This email address is being protected from spambots. You need JavaScript enabled to view it..

 

Terms of Business

 

These Terms of Business set out the basis and extent to which we will provide you with services in relation to each and every contract of insurance which we arrange on your behalf. Please read these terms carefully.

 

All work carried out by us is subject to these terms except where changes are expressly agreed in writing by both parties. We retain the right to amend these Terms of Business from time to time by giving written notice to you.

 

Our Service

 

We give advice and make recommendation on insurance products. Where we do not give advice you will be informed at the outset. On these we will ask questions to narrow down the selection of policies and supply details of them. You will then make your own choice on how to proceed.

 

We also sell certain products on a net rated basis. On these cases we charge a fee instead of commission. If applicable, you will be advised of our charge at the time of purchase.

 

Transactions Concluded Through Our Site

 

We offer insurance policies through our website from a wide range of insurers.

 

We are acting as your agent in placing contracts on insurance with an insurer. We are not the insurer and we do not guarantee the availability of any insurance policy or the solvency of any insurer.

 

All insurance policies described on our website or placed by InsureDIY are subject to the terms and conditions of any applicable agreements with the applicable insurer. In case of doubt the user should seek assistance directly from the insurer or InsureDIY at: This email address is being protected from spambots. You need JavaScript enabled to view it.

 

Geographical Limits

 

The information on our website is directed at residents of the Hong Kong Special Administrative Region of the People's Republic of China ("Hong Kong"). Insurance policies accessed through our website should only be bought by persons resident in Hong Kong.

 

Duty of Disclosure

 

All quotations are given on the basis of "Utmost good faith".

 

You must act with utmost good faith toward the insurer and provide honest and accurate information at all times. This obligation applies at the time of applying for the policy and continues throughout the duration of the policy.

 

Insurers must be presented with a fair and complete statement of the nature of any risk submitted to them. If you do not provide complete and accurate information, containing all material facts and circumstances, then your policy may not be valid in the event of a claim or a higher premium may be payable.

 

A circumstance is material if it would influence the judgment of a prudent insurer in calculating the premium or assessing whether he would accept the risk. Accordingly, you must provide all the facts material within such a submission and update this information where relevant between initial enquiry and attachment of any cover and during the term of any policy. This applies equally to new orders, adjustments, renewals, extensions of cover, endorsements and claims.

 

For certain classes of business you may be required to complete a proposal form or questionnaire. We will be happy to provide guidance concerning the comprehension of such a document but we are not able to complete it on your behalf. You must satisfy yourself of the contents of the proposal form or questionnaire. Please note that your obligation to provide material information to insurers is an overriding obligation. Where insurers do not request specific information within a proposal form or questionnaire, this does not mean that such information is not material. If you are in doubt as to whether information is material, please contact us at This email address is being protected from spambots. You need JavaScript enabled to view it..

 

Know Your Client

 

We are required to take all reasonable steps to establish the true and full identity of our clients and to comply with applicable anti-money laundering and anti-terrorist financing legislation. We shall inform you of what know your clients details and documents that we shall require you to provide to us.

 

Needs Analysis

 

Before issuing you with any life policy, or recommending any life policy to you, we ask you to provide certain information so that we can conduct a personalised analysis of your needs and provide you with a reasoned recommendation as to the level of coverage that is appropriate for you. If you opt not to provide such information to us, preventing us from conducting a needs analysis, we may contact you by e-mail or telephone to discuss your choice with you.


Policy Documentation

 

We shall arrange for the insurance policy, a certificate of insurance and if applicable any placing slip of cover note to be issued to you as soon as is practicable, where an insurer has approved issuing a policy to you.

You must retain copies of all policy documentation as this will be required to administer your policy and process any claims.

 

Your Right to Change Your Mind (Life Insurance Only)

 

In accordance with the Hong Kong Federation of Insurer's guidance on cooling off, you have a right to cancel any life insurance policy which you have taken out through us, during the applicable cooling-off period. We will notify you of this cooling off-period and the applicable process at the time of placing your policy through us.

 

Customers placing general insurance policies do not have a cooling off period.

 

Renewals

 

We may contact you prior to the expiry of any policy to consider if you wish to make a renewal and to notify you of the then current premium for such policy and any changes that have been made to the policy terms. If the insurer no longer offers such a policy, or you have ceased to be eligible for such policy we may introduce to you other policies which may be of interest, from that insurer and/or from other insurers.

 

Claims

 

You must notify us immediately in writing or any claim, or circumstance likely to give rise to a claim. Failure to notify within applicable timescales set out in your insurance policy may entitle your insurer to deny cover in respect of your claim.

Where we handle a claim on your behalf we will do so fairly and reasonably promptly.

 

Cancellation

 

We recommend that you contact us before seeking to cancel any policy.

 

Payment Terms

 

We will inform you of the cost of your insurance policies and our charges prior to the conclusion of contract or before you become liable to pay them, whichever comes first. Where we do not know them in advance we will tell you how they are to be calculated.

 

You agree to pay all premiums plus any premium payment tax, government levy or similar tax, duty or stamp in full before the due date stipulated for the applicable policy, renewal or endorsement.

 

Premiums for policies are immediately payable in full on their specified due date (or on their monthly due date for premiums specified to be payable monthly).

 

Premiums for general insurance policies are, unless other specified, directly payable to us by credit card through our website.

 

Premiums for life insurance policies are, unless otherwise specified, payable as follows:

 

(a) the first three months' premiums are payable in full on the specified due date to us by credit card through our website; and

 

(b) thereafter, premiums are payable monthly on the monthly due date by direct debit to the insurer.

 

We will not accept payment by any other method unless mutually agreed to by us and you.

 

No policy is issued until the insurer notifies you that they have issued a policy to you. If the insurer declines to accept your application, any premium refund will, where possible, be refunded to the same card that made the payment.

 

We shall endeavour to ensure that the pricing, terms of policy and other information on our website in respect of policies are accurate, reliable and up to date, but we do not guarantee their accuracy, completeness or reliability. The actual premium payable in respect of a policy and the terms of a policy and other information shall be such premium, terms and other information as the applicable insurer notifies to you, when they accept your application.


In the event that there is a discrepancy between the information posted on our website and the premium, policy terms and other information that the insurer notifies to you, then provided that you notify us of the same within 21 days, we shall at your request arrange for the insurer to cancel your policy and refund your premium. If you do not cancel the policy, then any additional premium specified by the insurer is payable. We shall notify you the amount and method of such payment and you shall pay such additional premium within the specified timeframe.

 

We will notify you the method for payment of endorsements or renewals and the dates on which they are due.

 

If any policies contain premium payment warranties or premium payment conditions, we will notify you, explain to you how to comply with them, when they need to be complied with. Failure to comply with a premium payment warranty or condition could lead to the insurer cancelling your policy.

 

Any insurance premium payment tax, government levy or similar tax, duty or stamp shall be payable in addition to your premium. We shall notify you in advance if this is applicable.

 

Client Account or Risk Transfer

 

If we receive any premiums from you and/or any claims moneys and premium refunds from an insurer we shall hold them as your agent in our segregated client account in Hong Kong, in accordance with s71 of the Insurance Companies Ordinance (Cap 41 o the Laws of Hong Kong). We keep such client money separate from our own money.

 

If we have a risk transfer terms of business agreement in place with an insurer, then we may hold premiums received from you, and any claims moneys and premium refund received from the insurer as agent of the insurer, in which case such monies shall not be client monies.

 

Interest on any monies held by us will be retained by us for our own use, rather than paid to you or to an insurer.

 

Commission Disclosure

 

InsureDIY Limited is remunerated for its services by the receipt of commission paid by insurers. Your agreement to proceed with this insurance transaction shall constitute your consent to the receipt of commission by InsureDIY Limited.

 

Conflicts of Interest

 

We will advise you of any conflicts of interest and, if required, discuss with you whether or not you will be happy for us to continue working for you.

 

Liability

 

Our total liability to you shall be limited to the amount of the commission we receive in respect of the policy that you have place through us.

 

We accept no liability (whether in tort (including negligence), contract, statute or otherwise) for any indirect, special or consequential loss or damage whatsoever arising from or in connection with the services.

 

This does not affect our liability for death or personal injury arising from our negligence, nor our liability for fraud or any other liability which cannot be excluded or limited under applicable law.

 

You agree that any claims shall only be brought against InsureDIY Limited and no claim shall be brought against any of its employees, directors or officers.

 

Confidentiality

 

We shall treat all information which you pass to us as private and confidential and will only disclose such information for the purpose of negotiating, maintaining or renewing the insurance which we have been instructed to place, unless you have consented otherwise.

 

Disclosure may also be made to our external auditor and our regulator to fulfil their regulatory functions or where we are otherwise legally obliged to disclose the information.

 

Each of us shall comply with the Personal Data (Privacy) Ordinance (Chapter 486 of the Laws of Hong Kong). A copy of our Privacy Policy is available here.

 

Choice of Law and Jurisdiction

 

These Terms of Business and any dispute or claim arising out of or in connection with them or their subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the law of Hong Kong.

 

The Hong Kong courts will have exclusive jurisdiction over any claim arising from, or related to, a visit to our website although we retain the right to bring proceedings against you for breach of these conditions in your country of residence or any other relevant country.

 

Complaints

 

Our complaints procedure is available on request. All complaints should be addressed to our contact details set out above in the Information about Us section of these Terms of Business.

 

If we are unable to settle your complaint with us, you may be entitled to refer it to:

 

The Professional Insurance Brokers Association
Room 2507-08,
25/F, China Insurance Group Building,
141 Des Voeux Road Central,
Hong Kong
Tel: +852 2869 8515
Fax: +852 2770 2372
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.