The Insurance Authority (IA) has released the latest issue of Conduct In Focus on 16 August 2024, detailing recent complaint statistics, disciplinary actions, and updates on insurance-related issues. The issue includes an in-depth look at insurance brokers’ roles in the life insurance market, focusing on new standards to prevent unlicensed selling, particularly to Mainland China visitors. It also addresses best practices for renewal notices, the SMS Sender Registration Scheme to combat scams, benefits of online self-service portals, and the restructuring of the IA’s Market Conduct Division into Conduct Supervision and Enforcement Divisions. Starting 23 September 2024, the IA will begin charging fees for processing intermediary licensing applications, ending a five-year waiver period. The issue is also available in audio format.
Resources: https://www.ia.org.hk/en/infocenter/press_releases/20240816.html
