The Insurance Agents Registration Board (IARB) announced today (Monday, 9 June 2003) the release of the Insurance Agents Handbook (Handbook). First of its kind, the objective of the Handbook is to assist more than 46,400 insurance agents to have a better understanding of the objective, role, function and operation of the IARB as well as their rights and obligations.

Information includes:

• Jurisdiction of the IARB;

• Registration requirements and forms;

• Credit reporting of the Continuing Professional Development Programme;

• Decision making process of the IARB;

• Complaints handling procedures;

• Sentencing and penalty;

• Sample cases of pertinent misconduct cases; and

• Appeals proceedings.

The Honourable Mr Andrew Wong, JP, Chairman of the Insurance Agents Registration Board, indicated, "In response to the request of some insurance agents, the 'Common Offences & Starting Point of Sentences' section gives case studies on the kind of activities constituting misconduct and the corresponding penalties. We are pleased to learn that the Insurance Agents Handbook will be accredited as a core unit subject of the Continuing Professional Development Programme under the Insurance Intermediaries Quality Assurance Scheme. All insurance agents are required to complete five core units and 10 non-core units per annum."

The Life Underwriters Association of Hong Kong is holding a seminar titled " Insurance Agents Handbook " to be officiated by the Honourable Mr Wong. Details are as follows:

Date:Thursday, 26 June 2003

Time:11:00am - 1:00pm

Venue:Room 301, Hong Kong Convention and Exhibition Centre, Expo Drive

Enquiries:Ms Bess Kwan on 2969 0244