News Regulations01 May 2019

Hong Kong:Insurance Authority proposes changes to licensing for intermediaries

With the Insurance Authority (IA) expected to take over the regulation of insurance intermediaries in Hong Kong, it has decided to adopt most of the proposals for regulating these intermediaries after carefully considering the industry's feedback. The first set of rules imposes a cap on the number of insurers which a licensed individual insurance agent or insurance agency may represent. After taking the industry's feedback and market situation into consideration, the IA decided to maintain the cap at four which means that a licensed individual insurance agent or insurance agency may represent up to four insurers - despite proposals to increase the cap to five.

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