Terms of Use
These Terms and Conditions shall apply to and govern the relationship between Holdcover Insurance Brokers Limited (HIB), whose business address in Hong Kong is Room H, 20/F, Kings Wing Plaza 1, Shek Mun, Shatin, N.T. Hong Kong, and you.
This agreement covers the scope of our relationship for your access and use of our services, including APIs, email notifications, applications, buttons and widgets (the “Services”), and any information, text, graphics, photos or other materials uploaded, downloaded or appearing on the Services (collectively referred to as the “Content”).
HIB operates as an independent insurance broker who you appoint to act on your behalf to negotiate contracts of insurance in line with their regulatory approval and all applicable laws. These Terms and Conditions take effect either: 1) Upon you use and access to this website www.holdcover.com; 2) You provide consent to us via email or other electronic mechanism; 3) Upon payment of premium.
For the avoidance of doubt and without prejudice to the aforesaid, where applicable, these Terms and Conditions apply to the relationship between Holdcover Insurance Brokers Limited (HIB) and you. When you seek advice or any form of service, or execution of any instruction on your part, you appoint HIB, which is a registered insurance broker company with the Insurance Authority of Hong Kong, for the same purposes on a nondiscretionary basis. HIB is authorised to transact General and Life (excluding Linked Long Term) Insurance business under registration number FB1854. These Terms and Conditions shall be contractually binding on both parties.
As Our Commitment to You, we will
Act honestly and fairly at all times
Give you clear documents and information
Give you sufficient information to enable you to make an informed decision about the purchase of insurance
Not mislead you in anyway
Confirmation of Insurance
Submission of your information does not constitute an acceptance of your request or confirmation of an offer. We will communicate when your offer to purchase a product enters our records, and whether your request is accepted or rejected. Notification of confirmation of any insurance policy may be issued electronically or on paper. A binding contract is not reliant upon you receiving a notification on paper.
The information on products and services offered on this website are not comprehensive descriptions of the final terms and conditions or precise cover provided by those products and services. The relevant terms and conditions for each individual product you wish to purchase will be provided either physically or electronically. The particular terms and conditions of any product on offer shall prevail over contradictions with the ‘Terms and Use’ agreement of this website in regards to the policies and insurance of that product.
Before cover can be processed or confirmed it is necessary for you to fully and faithfully inform us of everything you know, or could reasonably be expected to know that will be relevant while requesting an insurance policy.
Purchase and Payment
When you request for a quote on this website it will be provided to you electronically at no financial cost, and we reserve the rights to impose service charge for subsequent policy administration service. If you choose to accept the quote and the relevant terms and conditions, and complete every required field in regards to your details, you are permitted to request your desired product. Based on the information provided by you, your request will then be accepted or rejected. Should the application be accepted and successful, a binding insurance agreement will be created for you.
The due date for all purchases must be met before transactions can be confirmed. Only credit cards accepted by the website will be permitted for use in online transactions and the following details will be required: Credit card type, full name on credit card, credit card number & expiry date.
It is your responsibility to ensure all details and information provided to this website in relation to payment are accurate and contain the sufficient funds to clear the cost of the purchased product or service. A binding insurance will only be presented after a successful charge against the credit card used in the transaction and the reception of payment by HIB.
Online Transactions
This website allows you to make online purchases. No online transaction is final until you are sent an electronic confirmation of your process. A communication of your acceptance of an offer and your confirmation of payment is required to finalise the process before you are notified of the confirmation.
We are not responsible for loss of communication as a result of mechanical, software, computer, telecommunications or electronic failures. Should your confirmation of payment not reach you as a result of these failures, HIB is not liable to you in any way for loss or damage caused. It is your responsibility for making all arrangements necessary for you to have access to our Services and to inform us if you cancel or change your email address and to ensure it remains capable of receiving new emails and notifications. HIB will not be liable if the email address you have provided is inactive or is part of an expired account.
We may retain the credit card details you provide only for as long as it is necessary to facilitate transactions. We hold the right to refuse to process transactions at any time and for any reason to the extent permitted by law, and will not be held liable for damage or loss caused as a result.
In the event of our services being terminated by you during any cooling off period, or prior to expiry or renewal, then we will be entitled to retain any and all fees or commission in relation to the policies negotiated and arranged by us.
Return of Premiums
In the vast majority of cases General Insurance policies are annual contracts and once you have entered into such a contract you are committed to it. This means that if you cancel at any time (other than in the cooling off period, where applicable) you have no legal right to a return of premium except as maybe mentioned in the policy document. Some insurers give proportionate refunds and we will continue to work on your behalf to secure a refund if it is possible.
Broker Remuneration
Holdcover Insurance Brokers Limited (‘the Company’) is remunerated for its services by the receipt of commission paid by insurers. Your agreement to proceed with any insurance transaction shall constitute your consent to the receipt of commission by the Company.
Claims Procedure
In the event of a claim you should initially contact us or your insurer direct. The claims process and appropriate literature will be made available to you for onward processing. Please note that any incomplete claim form, or missing supporting documentation, will delay the processing and payment of your claim.
Personal Information Collection Statement (PICS)
From time to time it is necessary for the Company to collect your personal data, which may be used, stored, processed, transferred, disclosed or shared within the Business Class Group of Companies. We recognize our responsibilities in relation to the aforementioned under the Personal Data (Privacy) Ordinance (Cap 486) (PDPO) and commit to sending you our PICS document separately.
We will ensure that any information obtained from you will not be used or disclosed except in the normal course of negotiating, maintaining or renewing your insurance, unless we have your consent or where we are legally obliged to disclose your information. Any personal information gathered will be treated as private and confidential and only used for the purposes of negotiating and arranging your insurance.
These ‘Terms of Use’ shall be governed and construed in accordance with the laws of Hong Kong SAR of the People's Republic of China (Hong Kong).
Client Declaration
I/we hereby understand and accept the above terms and conditions. Furthermore I/we confirm that we have read and understood the personal information collection statements and have been advised to read it carefully. I/we confirm we have read the PICS carefully and have considered the effect and impact with respect to the use and transfer of any of my/our personal data collected by the company. Based on the foregoing, I/we give me/our acknowledgement and agree to the transfer and use of my/our data by the company in accordance with PICS, including its use for direct marketing purposes.
If you do not agree to the use of your personal data for direct marketing purposes set out in the PICS, please inform us in writing and we will not use your personal data for direct marketing.
Privacy and Security
Privacy Policy (PP) and Personal Information Collection Statement (PICS)
Holdcover Insurance Brokers Limited (the “Company”) recognises its responsibilities in relation to the collection, holding, processing, use and/or transfer of personal data under the Personal Data (Privacy) Ordinance (Cap. 486) (PDPO). Personal data will be collected only for lawful and relevant purposes and all practicable steps will be taken to ensure the accuracy and security of personal data held by the Company and to avoid unauthorised or accidental access, erasure or other use.
Please note that if you do not provide us with your personal data, we may not be able to provide the information, products or services you need or process your request.
Purpose of Collection
From time to time it is necessary for the Company to collect your personal data, which may be used, stored, processed, transferred, disclosed or shared by us for the following purposes including:
1. offering, providing and marketing to you the products/services of the Company, or our business partners, and administering, maintaining, managing and operating such products/services;
2. processing and evaluating any applications or requests made by you for products/services offered by the Company and our affiliates;
3. providing subsequent services to you, including but not limited to administering the policies issued;
4. any purposes in connection with any claims made by or against or otherwise involving you in respect of any products/ services provided by the Company and/or our affiliates, including investigation of claims;
5. evaluating your financial needs;
6. improving products/services for customers;
7. conducting market research for statistical or other purposes;
8. matching any data held which relates to you from time to time for any of the purposes listed herein;
9. making disclosure as required by any applicable law, rules, regulations, codes of practice or guidelines or to assist in law enforcement purposes, investigations by police or other government or regulatory authorities in Hong Kong or elsewhere;
10. conducting identity and/or credit checks and/or debt collection;
11. complying with the laws of any applicable jurisdiction;
12. carrying out other services in connection with the operation of the Company’s business; and
13. other purposes directly relating to any of the above.
Information we Collect
In order to provide you with services, answer your enquiries, deal with your requests or improve our services, we may collect and process the following personal information about you:
1. 1.Information, such as your name, email and other contact details (including information that you provide by filling in forms on our website and mobile application). This includes information provided at the time of registering to use our website and mobile application, subscribing to our service (seeking a quotation for a policy, for a renewal, for an endorsement, for making a claim), posting material, requesting further services or applying for credit. We may also ask you for personal information if you report a problem with our website and mobile application. If you contact us, we may keep a record of that correspondence.
2. We may also ask you to complete surveys that we use for research purposes.
3. Details of transactions you carry out through our website and mobile application.
4. Details of your visits to the web site including, but not limited to, traffic data, location data, weblogs and other communication data and the resources that you access.
If we do not collect the above personal information from you, we may not be able to provide you with the services or assistance you have requested.
Uses Made of the Information
We use information held about you in the following ways:
1. To ensure that content from our website and mobile application is presented in the most effective manner for you.
2. To enable us to communicate with you and to verify your identity.
3. To enable us to identify policies of insurance for which you may be eligible and to obtain quotes on your behalf.
4. To consider any application for policies of insurance that you make, and any policy endorsements, cancellations or renewals.
5. To assist in the issuance and administration of policies of insurance that you take out.
6. To assist in claims handling.
7. To carry out our obligations arising from any contracts entered into between you and us and/or between you and an insurer who has issued you a policy through us.
8. To provide you with information, products or services that you request from us or from insurers which we feel may interest you, but only where you have consented (which includes an indication of no objection) to be contacted for such purposes. We may use your name, contact details, financial background and demographic data for direct marketing by mail, email or telephone for the purposes stated above. These products and services may be provided by the Company and/or any of our affiliates within Holdcover Group and other companies which are business partners with whom the Company maintains business referral or partnerships. If you wish to withdraw your consent to the use and provision of your personal data for direct marketing, please inform us in writing to the address below and we will then ensure that you are not included in future direct marketing activities.
*Address: Data Privacy Officer, Holdcover Insurance Brokers Limited, Room H, 20/F, Kings Wing Plaza 1, Shek Mun, Shatin, N.T. Hong Kong.
9. To allow you to participate in interactive features of our service, when you choose to do so.
10. To notify you about changes to our service.
11. To help prevent and detect fraud or loss.
Storage, Security and Transfer of Personal Data
The data that we collect from you will be kept in our secure cloud servers but may be transferred to, and stored at, a destination outside of Hong Kong. Personal data will be kept confidential but, subject to the provisions of any applicable law, may be provided to:
1. any of our affiliates, your insurer, industry association or federation, or financial institution in Hong Kong or elsewhere and in this regard you consent to the transfer of your data outside of Hong Kong;
2. any person in connection with any claims made by or against or otherwise involving you in respect of any products/ services provided by the Company and/or our affiliates;
3. any agent, contractor or third party who provides administrative, technology or other services (including direct marketing services) to the Company and/or our affiliates in Hong Kong or elsewhere and who has a duty of confidentiality to the same;
4. any actual or proposed assignee, transferee, participant or sub-participant of our rights or business;
5. any government department or other appropriate governmental or regulatory authority in Hong Kong or elsewhere. Transfer of your personal data will only be made for one or more of the Purposes specified above. We strive to ensure the security, integrity and privacy of personal information submitted to our website and mobile application, and we review and update our security measures in light of current technologies. Unfortunately, no data transmission over the internet can be guaranteed to be totally secure. We will try our best to take all reasonable steps to protect the personal information you may transmit to us or from our online products and services. In addition, our employees and the contractors who provide services related to our information systems are obliged to respect the confidentiality of any personal information held by us. However, we are not responsible for events arising from unauthorised access to your personal information.
Access and Correction of Personal Data
The PDPO gives you the right to access and/or correct information held about you. Your right of access and/or right to correct can be exercised in accordance with the PDPO. Access and/or correction requests may be addressed to the Data Privacy Officer at the address above.*.
This Privacy Policy shall be governed by the laws of the Hong Kong Special Administrative Region.
Cookies Policy
Cookies Policy
Our website uses cookies to distinguish you from other users of our website. This helps us to provide you with a good experience when you browse our website and also allows us to improve our Site. By continuing to browse the Site, you are agreeing to our use of cookies.
A cookie is a small file of letters and numbers that we store on your browser or the hard drive of your computer if you agree. Cookies contain information that is transferred to your computer's hard drive.
Please note that third parties (including, for example, advertising networks and providers of external services like web traffic analysis services) may also use cookies, over which we have no control. These cookies are likely to be analytical/performance cookies or targeting cookies.
We may use the following third party web analytic services on the website. The service providers that administer these services use technologies such as cookies, web server logs and web beacons to help us analyse how visitors use the website. The information collected through these means (including IP address) is disclosed to these service providers, who use the information to evaluate use of the website. These analytic services may use the data collected to contextualise and personalise the marketing materials of their own advertising network.
Google Analytics
Google Analytics is a web analysis service provided by Google Inc. ("Google"). Google's ability to use and share information collected by Google Analytics is in accordance with their policies: http://www.google.com/policies/privacy/partners/
You can prevent Google's collection and processing of data by using the Google Ads Settings page or downloading and installing their browser plug-in  https://tools.google.com/dlpage/gaoptout.
You block cookies by activating the setting on your browser that allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or parts of our Site.
Referral Agreement
HoldCover Insurance Brokers Ltd.【Party A】
The Referrer 【Party B】
Both parties agree to sign this Agreement (“the Agreement”) with regard to the rights and obligations as follows:
Article 1: Effective Date of the Agreement
The Agreement is effective from [ ] 2019the date Party B signs on or express his/her acceptance, with 1st January of each year as the annual commencement date and 31st December as the annual settlement date.
The Agreement is valid for one year from the signing date. If no written objection is raised by both parties after the expiry date of the Agreement, the Agreement will be automatically extended for another year and so on.
Article 2: Scope of the Agreement
1. According to Article 3(B) below, Party B can only engage in client referral activities.
2. For any client referred by Party B, the client shall pay the premium fees in person and forward all transaction data to Party A. Party B shall not handle any transaction data or any premium fees for the client.
3. All personal information and any correspondences/documents between Party A and the client shall be treated as strictly confidential and shall not be given to the third parties without any written consent of the client.
4. Party A reserves the rights to refuse any application to purchase insurance by the client.
5. Party B shall fulfill its obligation in the Agreement. Party B shall abide by the agreed contents of the Agreement in relation to all conduct. If there is any violation, Party B shall be responsible for all resulting losses or expenses for the client. Party A shall not bear any legal responsibility.
6. Neither Party A nor Party B shall unlawfully use the name of the other party. If any damage is caused to the other party as a result, the defaulting party shall compensate the other party for all losses and shall bear all possible legal liabilities.
Article 3: Regulations on Conduct
Party B shall not commit the following acts, otherwise Party B shall be held solely responsible. Party A also reserves the right to terminate the Agreement and claim against Party B for all losses.
1. Unauthorized use of Party A's name in advertisements or other public promotions;
2. Unauthorized use of Party A's trademark, company logo, or self-printed business card in the absence of written approval of Party A; and
3. Signing any contract using the name of Party A.
In addition, both parties shall comply with all then applicable laws, rules and regulations of relevant regulatory authorities in Hong Kong and in the PRC, including, inter alia, (i) the requirements under Section 64G of the Insurance Industry Ordinance (Chapter 41 of the Laws of Hong Kong) that Party B shall not directly introduce the insurance products to the referred client, provide relevant information or perform regulated activities. Party B's sole responsibility is to refer client to Party A. Party B shall abide by the agreed contents of this Agreement for its conduct. If there is any violation, Party B shall be responsible for any losses or expenses for the client and Party A shall not be responsible for any legal responsibility. However, if the referred client suffers losses due to the purchase of the products sold by the Party A, Party B will not bear any legal liability; and (ii) in accordance with the requirements of Section 5.5 of the Hong Kong Insurance Authority's Code of Conduct for Licensed Insurance Brokers, for any client referred by Party B to Party A, Party A shall inform the referred client the following before arranging any insurance policies for the referred client:
1. Party A will be responsible for arranging the insurance policy and, for this purpose, the client should only deal directly with Party A (i.e. the client should not deal with Party B for arranging the insurance policy);
2. Party B does not represent Party A and should have no involvement in the arrangement of the insurance policy;
3. Party A disclaims all liability for any advice in relation to the insurance policy given to the client by Party B; and
4. Premium for the insurance policy should be paid directly either to Party A or the insurer concerned (and not to Party B).
Article 4: Termination of the Agreement and Obligations
1. If Party B (i) fails to successfully refer any client to Party A within six months from the date of the Agreement; (ii) there is a change of controlling shareholder(s), senior management, authorized bank representative and/or change of directorship of Party B; or (iii) during the term of the Agreement Party A finds that the background of Party B does not legally qualified for being a referrer, Party A shall have the right to terminate the Agreement unilaterally.
2. During the term of the Agreement, either party can notify the other party in one month advanced written notice to terminate the Agreement.
3. If Party B is in breach of any term of the Agreement, Party A shall terminate the Agreement immediately and reserve the rights to claim all losses against Party B.
Article 5: Supplemental Terms
1. Both parties agree on the referral fees as attached in the Schedule hereto (subject to subsequent amendment as agreed).
2. Both parties agree to revise the Agreement to amend the commercial terms at any time by written notice. Alternatively, if the Agreement needs to be amended due to amendment of laws or regulations, Party A can unilaterally notify Party B by email describing all updates in laws and regulations and the corresponding amendment in the Agreement. Both parties agree that the above arrangement shall have legal effect between the parties.
Article 6: Obligations of Party B
1. Party B shall file any tax return on its own for any jurisdiction of all taxable profit.
2. Party B shall have the obligation to file any tax return on its own under the Inland Revenue Ordinance of Hong Kong. Party A shall not disclose the relevant information to any other party. Party A shall keep all relevant accounting record of Party B for any possible investigations by the Hong Kong Government.
3. Party B shall notify Party A forthwith for all future change of controlling shareholder(s), senior management, authorized bank representative and/or change of directorship.
4. Party B shall assist Party A for all due diligence work against Party B.
Article 7: Effectiveness of the Agreement
The Agreement describes all understandings between the parties and supersedes all previous oral and written commitments. If any term of the Agreement contradicts with previous oral and written agreement, the Agreement shall prevail.
Article 8: Governing Laws and Jurisdiction
The Agreement shall be governed by and construed in accordance with the laws of the Hong Kong Special Administrative Region. Both parties agree to accept the non-exclusive jurisdiction of the Hong Kong courts. Matters not covered in the Agreement will be handled in accordance with the relevant laws and regulations of Hong Kong.
According to the Prevention of Bribery Ordinance of Hong Kong, Party B shall not engage in any arrangement that is contrary to the interest of any company, and should avoid any kind of relationship which shall be in potential conflict of interests position with its principal. If any of the above violations are found, the Agreement will terminate immediately and Party B shall be liable for all relevant responsibilities and shall compensate for the losses of Party A. Also, both parties shall disclose to all referred clients and get the referred clients’consent on Party B’s receiving of the referral fees as described in the Agreement.
Article 9: Execution and Delivery of the Agreement
This Agreement shall be executed in two (2) copies. Each party shall keep one original.
Article 10: Contracts (Rights of Third Parties) Ordinance (Cap.623)
According to the Contract (Rights of Third Parties) Ordinance (Cap.623), any party not a signing party to the Agreement shall not have the right to enforce any term and/or derive any benefit of the Agreement.
Referral Fee Schedule
This Schedule forming part of the Referral Agreement and Holdcover Insurance Brokers Ltd. (“The Company”) reserve the rights to make subsequent amendments.
Insurance Type
Referral Fee*
1st year from inception
10% of premium
5% of premium
2nd year from inception
10% of premium
5% of premium
3rd year from inception
10% of premium
5% of premium
*Referral fee is calculated based on the invoiced paid premium excluding any applicable levy and tax.
Referrer A referred Client B to purchase a Public Liability insurance (Insured is an individual) through the broker service of Holdcover Insurance Brokers Ltd. (either online or offline).
Policy effective date: 1 January 2020
Invoiced premium: HK$2,000 + 0.06% levy = HK$2,001.20
Assuming no premium increment for the coming 3 years. The premium paid by Client B and respective referral fee entitled by Referrer A will be as follows:
Premium Paid by Client B
Referral Fee to Referrer A
Year 1
HK$200.00 (10% of Premium)
Year 2
HK$200.00 (10% of Premium)
Year 3
HK$200.00 (10% of Premium)
1) A Referrer Code is assigned to each referrer and client must provide this Code before quotation acceptance confirmation in order to entitle the Referral Fee.
2) Referral fee is expressed as Credit Value (CV). Each CV is equivalent to HK$1.00.
3) Entitled amount of CV of each successful case will be credited to Referrer’s account within three (3) working days upon receipt of client’s premium settlement. The CV could be used to offset future insurance purchase via Holdcover Insurance Brokers Ltd. or redeemed as cash (subject to a service charge at 2% of the withdrawal amount or HK$100 whichever is the higher).
4) The earned CV will be expired by the end of next year. All earned CV will be forfeited after expiry date.
Example 1: CV earned on 15-Jan-2020 => Expiry date will be on 31-Dec-2021.
Example 2: CV earned on 20-Nov-2020 => Expiry date will be on 31-Dec-2021
5) Referrer will entitle referral fee on the invoiced premium paid by the client only at the inception/ renewal of the insurance policy. Subsequent endorsement(s) during the policy year will not entitle any referral fee.
6) The entitled referral fee shall be subject to recovery or clawback by the Company. That is, if an insurance policy is cancelled within 60 days after policy inception, the Company has the rights to call back the respective referral fee paid out to the referrer.
7) Referrer could entitle referral fee of the same policy for up to three (3) years from inception provided that the policy has been continued with Holdcover Insurance Brokers Ltd. and not being cancelled or terminated during this 3-year period.