Under the By-Laws of the Monetary Authority of Macao (AMCM), the AMCM has the responsibility to guide, coordinate and inspect the insurance market, and ensure its effective operation and to supervise the insurance institutions, in accordance with the rules and regulations set forth in the Macao Insurance Ordinance, the Legal framework for the carrying on of Insurance Intermediary Business and the Legal Framework for Private Pension Funds. In order to discharge this responsibility, the AMCM must ensure that all authorised institutions that are governed under the above-mentioned laws not only are having sound and prudent management but also adopting correct ethical standards and sound business practices.

The term ‘authorised institutions’ in this policy statement refers to authorised insurance companies, reinsurance companies, corporate insurance intermediaries and private pension fund management companies. The word “complaint” mentioned in this statement refers to denunciations of any dissatisfaction with individual authorised institutions, including allegations of irregularities or deficiencies in their operations, and the purpose of allegations is to correct the irregularities or deficiencies.

In its capacity as the supervisory authority of authorised institutions, the AMCM has, from time to time, received complaints about the way authorised institutions handled the matters of customers.  In view of the fact that these complaints may help improve the practices of the authorised institutions, this policy statement aims to explain in detail the procedures and channels for the complainants to lodge complaints against the authorised institutions, the way AMCM will handle the authorised institutions concerned, and the actions the AMCM can take on such complaints.

Last revision: 2021-09-23 10:43:24