Regulation of Insurance Intermediaries

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Prior to the relevant sections of the Insurance Companies (Amendment) Ordinance 2015 (the “Amendment Ordinance”) becoming effective, Part X of the Insurance Ordinance (Cap.41) (“IO”) will continue to govern insurance intermediaries.

Insurance intermediaries are currently subject to a self-regulatory system supported by provisions contained in Part X of the IO. The Insurance Authority (“IA”) regulates insurance intermediaries through overseeing the Self-Regulatory Organizations (“SROs”) accorded with regulatory authority to administer registration of insurance intermediaries and to deal with misconduct by their registrants. The SROs are the Insurance Agents Registration Board established under The Hong Kong Federation of Insurers, The Hong Kong Confederation of Insurance Brokers and Professional Insurance Brokers Association.

At the next stage of the implementation of the Amendment Ordinance, the IA will take over the regulation of insurance intermediaries from the three SROs and administer a statutory licensing regime. Please see the IA’s Role under the new regime Our Role for more information.

Unless otherwise indicated, the information contained in this website reflects the current self-regulatory system for insurance intermediaries.

• The System
• Insurance Agents
• Insurance Brokers
• IA’s Power of Intervention
• Registers of Insurance Intermediaries
• Insurance Intermediaries Quality Assurance Scheme (“IIQAS”)
• Other Regulatory and Self-Regulatory Initiatives