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| 1. |
Applicant shall satisfy the minimum requirements specified by the Insurance Authority. For details, please refer to the Guideline on Minimum Requirements for Insurance Brokers |
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| 2. |
Download and complete our “Application Form for Membership”, and submit it with the supporting documents and payment as required in our “Checklist for Membership Application”. |
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| 3. |
Application with defect will be returned. |
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| 4. |
Upon receipt of full and satisfactory documents, the CE candidate will be invited to attend an interview with our Membership Sub-Committee in due course. |
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| 5. |
Application result or follow-up letter will be sent to the applicant by email after completion of due diligence checking. The whole application process may take more than 6 months. |
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| 6. |
If the applicant is a Chief Executive (“CE”) currently registered under another insurance broker which has common shareholder(s) with the applying broker or the owners of both brokers are close family members, he/she shall provide:
| (i) |
documentary proof for the relationship between the two brokers concerned; |
| (ii) |
his/her reason(s) for the dual registration; |
| (iii) |
copies of both companies’ board resolutions in acceptance of such dual registration; |
| (iv) |
copy of in-house balance sheet and profit and loss account of the applicant’s currently registered insurance broker, made up to the month within two months prior to the application; and |
| (v) |
reference letter from the applicant’s currently registered insurance broker, signed by company’s director, specifying the CE’s job duties and performance. |
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| Notes |
| (a) |
Application fee for membership is non-refundable. |
| (b) |
Our membership year starts from 1st July of each year and ended at 30th June of the subsequent year. Irrespective of the registration date, the membership will expire on 30th June of each year and can be renewed in the manner and form as specified by us. |
| (c) |
Any company’s name relating to “AGENT / AGENCY / INSURER / UNDERWRITER” will not be accepted. |
| (d) |
A person currently registered as a CE of an insurance broker cannot be registered as a CE of another insurance broker being a member of PIBA unless the two brokers concerned have common shareholder(s) or the owners of both brokers are close family members. Approval of such application depends on justification and is solely at the discretion of our Membership Sub-Committee which may disapprove the application. |
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