Document background
The Insurance Receipt is a crucial document in Hong Kong's insurance industry, serving as official proof of premium payment and insurance coverage validation. This document is required whenever an insurance premium is paid, whether for new policies, renewals, or installment payments. The receipt must comply with Hong Kong's Insurance Ordinance (Cap. 41) and related regulations, including anti-money laundering requirements. It typically includes detailed information about the insurer, policyholder, policy specifications, payment details, and authorized signatures. The Insurance Receipt is particularly important for tax purposes, audit trails, and as supporting documentation for insurance claims. It may be issued in both physical and electronic formats, subject to the Electronic Transactions Ordinance, and serves as a key document for both personal and commercial insurance transactions in Hong Kong.
