Our assets

The total assets of the organisation (currently in excess of HK$16 billion) are owned by all the members mutually and this fund is held in Trust for members, being governed on their behalf and in their best interests by the Council of MPS. These funds can and must be used only for the specific purposes for which members have paid their subscriptions. The most obvious of these purposes is that of assisting members with complaints and legal challenges that might arise in the future, relating to incidents that have already occurred during a previous period of membership - that is why we need to hold assets of this magnitude.

Similarly, the subscriptions we collect this year must be sufficient to cover the cost of all the cases that will eventually arise from the treatment that our members have provided in this twelve-month period, no matter how many years into the future any claim is made against them. Our proven commitment to get these sums right so that we can honour our long-term commitments to members, sets us apart from organisations and insurers that cut prices to the bone in order to attract new members, only to disappear from the market when the heat is on and the claims start to build up. The fact that we will never participate in irresponsible and ultimately destructive price wars should give you great peace of mind, because it shows that we are here for the long term.