Application Requirements

For detailed information, please refer to our Membership Regulations and the Minimum Requirements for Insurance Brokers. Our Association shall be entitled to alter and impose further requirements without prior notice.

The Company

  1. It should be a corporate company registered in Hong Kong.
  2. The paid up capital and Net Asset Value should not be less than HK$100,000 at any time. Confirmation from a Certified Public Accountant must be provided.
  3. All the Directors and the Chief Executive should at all times be ‘Fit and Proper Persons’.
  4. At least one ‘Client Account’ should be opened with a financial institution duly authorized under the Banking Ordinance. Applicant shall notify and acknowledged by the financial institution with which the “client account” is maintained.
  5. Applicant should arrange a Professional Indemnity Insurance (“PII”) Policy with a minimum limit of indemnity for any one claim and in any one insurance period of 12 months. Please make sure that the name of insured of the PII must be same as the company name registered with PIBA and the coverage provides to this company must satisfy the Minimum Requirements.
  6. Name of the applicant should not mislead the public under all circumstances.

The Chief Executive

  1. Applicant should attain the age of 21.
  2. Applicant should be a Hong Kong Permanent Resident or a Hong Kong Resident whose employment visa conditions do not restrict him/her from being engaged in insurance broking business.
  3. Applicant should have the minimum education standard of Form 5 or equivalent or above.
  4. Applicant should be a full time director or full time employee of the applying company.
  5. Applicant who holds a recognised professional insurance qualification listed in the Minimum Requirements for Insurance Brokers should have a minimum of two years experience occupying a management position in the insurance industry.
  6. Applicant who does not hold any acceptable professional insurance qualification should have five years experience in the insurance industry, and of which at least two years is of management level.
  7. Applicant should have to pass the relevant papers of the Qualifying Examination unless exempted.
  8. Applicant should comply with the requirements of the Continuing Professional Development (CPD) Programme in such manner and form as specified by the Insurance Authority.
  9. For more details, please see Membership Regulations and go to http://www.info.gov.hk/oci

Technical Representative

  1. Applicant should attain the age of 18.
  2. Applicant should be a Hong Kong Permanent Resident, or a Hong Kong Resident whose employment visa conditions do not restrict him from being engaged in insurance broking business, or a person who is permitted to work in Hong Kong and whose employment visa conditions do not restrict him from being engaged in insurance broking business.
  3. Applicant should have the minimum education standard of Form 5 or equivalent or above unless he was engaged in the insurance intermediary business in Hong Kong immediately before 1 January 2000 and has not ceased insurance related work for two consecutive years.
  4. Applicant should have to pass the relevant papers of the Qualifying Examination unless exempted.
  5. Applicant should comply with the requirements of the Continuing Professional Development (CPD) Programme in such manner and form as specified by the Insurance Authority.

Others

  1. Members should satisfy and submit relevant documents/returns specified by PIBA.
  2. Random checking will be conducted by the independent checker on members at the sixth and eighteenth months after the effective date of membership.