Hong Kong: Guidelines for licensed insurance intermediaries take effect on 23 Sep
Source: Asia Insurance Review | Oct 2019
The Insurance Authority has issued two new guidelines for licensed insurance intermediaries that took effect on 23 September 2019.
These are:
- the Guideline on “Fit and Proper” Criteria for Licensed Insurance Intermediaries under the Insurance Ordinance (Cap. 41)
- the Guideline on Continuing Professional Development for Licensed Insurance Intermediaries.
The date also coincides with the Insurance Authority officially taking over the direct supervision of insurance intermediaries from the Insurance Agents Registration Board, Professional Insurance Brokers Association and the Hong Kong Confederation of Insurance Brokers.
A two-month public consultation on drafts of the Guidelines was conducted in 2018 and the consultation conclusions were published in July 2019. A