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3. Are licensed insurance intermediaries required to comply with any principles of professional conduct?

Yes. Licensed intermediaries play an important role in the Hong Kong insurance industry and serve as a vital conduit between the public and the insurance sector. The IA issued the Code of Conduct for Licensed Insurance Agents and Code of Conduct for Licensed Insurance Brokers (collectively, Code of Conduct) which sets out fundamental principles of professional conduct which are expected of licensed intermediaries. The aim of the Code of Conduct is to promulgate principles and related standards and practices with which licensed insurance intermediaries are ordinarily expected to comply in carrying on regulated activities.


The Code of Conduct sets out eight general principles, namely:

  1. the requirement to act honestly, ethically and with integrity;
  2. act in the best interest of clients and treating clients fairly;
  3. exercise care, skill and diligence;
  4. possess appropriate levels of professional knowledge and experience;
  5. disclose accurate and adequate information to clients;
  6. ensure the suitability of the regulated advice;
  7. avoid conflicts of interests; and
  8. have sufficient safeguards in place to protect client assets.