Welcome to EverBright Actuarial Consulting Limited (“EverBright,” “we,” “us,” or “our”). These Terms and Conditions govern your engagement with our actuarial consulting and licensed brokerage services, including group medical insurance, Greater Bay Area (GBA) cross-border solutions, risk management, pricing strategies, and digital healthcare integration, as well as your use of our website and related services. By accessing or using our services, you agree to these terms. If you do not agree, please refrain from using our services.
Terms and Conditions
This statement was last updated on July 6th 2020..
Scope of Our Services
EverBright provides actuarial consulting and brokerage services, including:
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Actuarial Consulting: Statutory reporting, reserve evaluation, solvency assessments, and pricing analytics, compliant with Hong Kong Insurance Authority (IA) regulations like GL28 and risk-based capital (RBC) standards.
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Brokerage Services: Group medical, life, and liability insurance plans, including GBA cross-border coverage with direct billing at 10 institutions in 2024 (projected 15 in 2025).
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Digital Healthcare Integration: AI-driven claims analytics, telehealth, and eHealth integration, leveraging platforms like the CUHK Medical Data Space (2025).
Services are provided subject to engagement agreements, which detail scope, fees, and deliverables. We reserve the right to modify or discontinue services with notice, ensuring compliance with Hong Kong laws.
Client Responsibilities
You agree to:
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Provide accurate, complete information (e.g., employee data for group medical plans, financial records for actuarial valuations) to enable service delivery.
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Comply with applicable laws, including the PDPO for data sharing in GBA cross-border plans.
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Pay agreed fees promptly, as outlined in engagement agreements. In 2024, 95% of our client payments were processed within 30 days (EverBright internal data).
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Notify us of changes affecting service delivery (e.g., employee headcount changes impacting premiums).
Failure to meet these obligations may limit our ability to provide services or result in additional fees.
Fees for services are specified in engagement agreements, reflecting the complexity of actuarial or brokerage work. Payments must be made in HKD (or RMB for GBA-related services) via approved methods (e.g., bank transfer, FPS). Late payments may incur interest at 2% per month, compliant with Hong Kong’s commercial practices. For cross-border GBA plans, exchange rate fluctuations (1 CNY ≈ 1.1–1.15 HKD, 2023–2025) may affect costs, with clients bearing 3–5% reimbursement losses.
Intellectual Property and Confidentiality
All materials, reports, analytics, and proprietary tools (e.g., AI-driven claims models) provided by EverBright remain our intellectual property. Clients receive a non-exclusive, non-transferable license to use deliverables for agreed purposes. Unauthorized reproduction or distribution is prohibited. In 2024, our proprietary analytics tools optimized claims for 85% of our clients (EverBright internal data).
We protect your data under the Personal Data (Privacy) Ordinance (PDPO), Cap. 486. Personal and health data (e.g., claims records, medical histories for GBA plans) are encrypted and shared only with authorized parties, such as GBA hospitals or insurers, with your consent. Cross-border data sharing complies with the CUHK Medical Data Space standards. You acknowledge that internet-based communications may carry risks, and we are not liable for breaches beyond our control.
Limitation of Liability
EverBright strives to deliver accurate, high-quality services but does not guarantee specific outcomes (e.g., premium reductions or claims approvals). Our liability is limited to the fees paid for the specific service, excluding indirect or consequential damages. We are not liable for third-party actions (e.g., GBA hospital errors, insurer delays) or force majeure events.
Either party may terminate services with written notice, as specified in engagement agreements (typically 30 days). Upon termination, you remain liable for outstanding fees. We may suspend services for non-payment or breach of terms.
Governing Law and Dispute Resolution
These terms are governed by the laws of Hong Kong SAR. Disputes will be resolved through negotiation or, if necessary, mediation under the Hong Kong Mediation Council. If unresolved, disputes will be subject to the exclusive jurisdiction of Hong Kong courts.
We may update these Terms and Conditions to reflect legal or operational changes. Updates will be posted on our website and effective upon posting, as aligned with practices by the Actuarial Society of Hong Kong. Continued use of our services constitutes acceptance of the updated terms.
For questions or concerns about these Terms and Conditions, contact us at Email: info@ebactuary.com