Corrupt staff of distribution channel departments responsible for determining the remuneration packages for insurance intermediaries solicit or accept advantages in return for offering better remuneration to the latter (e.g. better support such as higher amount of marketing allowance and/or sponsorships for insurance broker companies / insurance agencies).
The section of “Prevention of Corruption” is included in the two syllabuses for the examination papers of IIQE “Principles and Practice of Insurance” and “Travel Insurance Agent”.
8 General Principles
The Codes of Conduct for Licensed Insurance Brokers and Licensed Insurance Agents set out the following 8 general principles of conduct to ensure licensed intermediaries act in the best interests of clients and treat their clients fairly.
They are the useful information you need to know when buying insurance.
The Private Sector Integrity Centre (PSIC) offers free anti-corruption and integrity training to promote professional ethics and entrench the probity culture in the insurance industry.
PSIC organises webinars on the “PSIC Channel” for insurance practitioners. Click here to view details of the upcoming webinars and enroll now!
Online CPD Module for insurance intermediaries
In collaboration with the Hong Kong Federation of Insurers (HKFI), the PSIC developed an online Continuing Professional Development (CPD) module on anti-corruption laws and professional ethics for insurance intermediaries.
PSIC provides free, tailor-made training for managers and staff of insurance companies.
Please contact us if you wish to arrange integrity and corruption prevention training.
Members of professional bodies may obtain continuing professional development (CPD) hours by attending seminars offered by the PSIC.
The following professional bodies have arranged continuing professional development (CPD) / continuous professional training (CPT) seminars jointly with the PSIC:
＊in alphabetical order of the names of the professional bodies
Click here to see our upcoming CPD seminars for insurance professionals.
Insurance is about peace of mind, building on trust and professionalism. Insurance practitioners not only need to acquire updated knowledge of insurance products and exercise sound judgment when servicing their clients, they must also maintain good character and personal integrity to gain trust and goodwill from the clients.
The Private Sector Integrity Centre (PSIC) offers free anti-corruption and integrity training to help insurance practitioners stay vigilant against corruption risks and uphold the highest standards of integrity. We also provide free corruption prevention advisory services and practical resources to support industry organisations in strengthening safeguards and fostering an ethical culture.
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