General Information

1. 

What sectors of the insurance industry are regulated in Hong Kong?
  Only insurers and insurance intermediaries, i.e. insurance agents and insurance brokers, are regulated in Hong Kong.
 

2.

How many insurers are authorized in Hong Kong and how are they distributed by types of insurance business and countries of incorporation?
  As at 31 December 2005, 175 insurers (approximately 63% general business insurers, 26% long term business (or life) insurers and 11% composite insurers) were authorized in Hong Kong. Of these insurers, 89 were companies incorporated in Hong Kong while the rest come from 21 different countries/regions, with the US taking the lead (15), to be followed by Bermuda (14) and the UK (12).
 

3.

How many insurance brokers and agents are there in Hong Kong?
  As at 31 December 2005, there were 468 authorized insurance brokers and 4,715 registered chief executives / technical representatives.

For insurance agents, there were 29,163 appointed insurance agents (i.e. 1,644 insurance agencies and 27,519 individual agents) and 20,545 responsible officers / technical representatives.
 

4.

Where can I get information about institute for insurance education and training?
  Information about institutes which provide training for in-services practitioners as well as students is given below:
Name of Institute Relevant Department/ Training Provided Address Telephone & Website
(if available)
The Insurance Institute of
Hong Kong
 Hong Kong Diploma in Insurance Studies Room 1705, Beverly House, 93 - 107 Lockhart Road, Wanchai, Hong Kong. (852) 2520 0098
http://www.iihk.org.hk
Vocational Training Council Various short term
insurance courses		 Vocational Training Council, VTC Tower, 27 Wood Road, Wan Chai, Hong Kong (852) 2836 1724
http://www.vtc.edu.hk
The University of Hong Kong Faculty of Business
and Economics		 Pokfulam Road, Hong Kong (852) 2241 5343
http://www.hku.hk
Lingnan College Department of
Finance and
Insurance		 8 Castle Peak Road, Tuen Mun, Hong Kong (852) 2616 8169
http://www.ln.edu.hk
 

5.

Where should I lodge my insurance claim complaint?
  Complaints on insurance claims may be lodged with The Insurance Claims Complaints Bureau (whose address is at 29/F, Sunshine Plaza, 353 Lockhart Road, Wanchai, Hong Kong). The Bureau has the powers to adjudicate claims on personal policies and make an award of up to $700,000.
 

6.

Where should I lodge my complaint against an insurer or an insurance intermediary?
  Complaints involving the conduct of insurance agents, their responsible officers or technical representatives should be addressed to the Insurance Agents Registration Board (IARB) of HKFI. The contact details of IARB are:

Insurance Agents Registration Board
29/F., Sunshine Plaza,
353 Lockhart Road,
Wanchai, Hong Kong

Hotline: 2520 1868
Fax: 2520 1967
E-mail: hkfi@hkfi.org.hk


If the complaints are against insurance brokers, their chief executives or technical representatives who are members of the approved bodies of insurance brokers, you should address the complaints to the corresponding approved bodies of insurance brokers:

The Hong Kong Confederation of Insurance Brokers (HKCIB)
Room 308, 3rd Floor,
St. George's Building,
2 Ice House Street,
Hong Kong

Tel: 2882 9943
Fax: 2890 2137
E-mail: info@hkcib.org


Professional Insurance Brokers Association
Room 1406-1407
Kai Tak Commercial Building
317- 319 Des Voeus Road Central
Sheung Wan, Hong Kong

Tel: 2869 8515
Fax: 2770 2372
E-mail: info@piba.org.hk
 

7.

Where can I get the following information about the Hong Kong insurance industry?
  The Insurance Companies Ordinance and the related subsidiary legislation, and the Annual Report of the Office of the Commissioner of Insurance (containing a description of the work of this office and insurance statistics) may be purchased by:
The Register of Authorized Insurers, Register of Authorized Brokers and Register of Approved Bodies of Insurance Brokers are available for public inspection during 9:00 a.m. - 12:00 noon and 2:00 p.m. - 4:00 p.m. (for Monday to Friday) and 9:00 a.m. - 12:00 noon (for Saturday) at:

Office of the Commissioner of Insurance,
21st Floor, Queensway Government Offices,
66 Queensway, Hong Kong.
The central Register of Appointed Insurance Agents is available for public inspection at:

The Hong Kong Federation of Insurers,
29/F, Sunshine Plaza, 353 Lockhart Road,
Wanchai, Hong Kong.
Audited financial statements of authorized insurers are available for public inspection at:

Companies Registry,
13th Floor, Queensway Government Offices,
66 Queensway, Hong Kong.
All the above information is extracted from the www.oci.gov.hk website.
Please visit this web site for latest information.