Insurance Ordinance

(1)
Subject to subsections (3) and (4), no contract of insurance shall be entered into on the life of any person or other event without inserting in the contract the name of the
person—
(a)
interested in the life or event; or
(b)
for whose use or benefit or on whose account the contract is entered into.
(2)
A contract of insurance entered into in contravention of subsection (1) is void by reason of that contravention.
(3)
Subsections (1) and (2) shall not invalidate a contract of insurance for the
                benefit of unnamed persons
                from
                time to time falling within a specified class or description if the class or
                description is stated in the contract with sufficient particularity to make it
                possible to establish the identity of all persons who at any given time are entitled
                to benefit under the contract.
(4)
Subsection (3) applies to contracts of insurance effected before the commencement of the Insurance Companies (Amendment) Ordinance 1985 (
8 of 1985
) as well as to contracts of insurance effected thereafter.