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Following is a question by the Hon Howard Young and a written reply by the Secretary for Financial Services and the Treasury, Professor K C Chan, in the Legislative Council today (July 4):
Question:
The Insurance Authority introduced in the middle of last year a new category of insurance agents, namely "travel insurance agents". In this connection, will the Government inform this Council of:
(a) the current number of people who have registered as travel insurance agents (but not as agents for other categories of insurance); and
(b) the current number of people who have passed the travel insurance agent examination but have not registered as the agents concerned because they fail to provide the required proof of academic qualification; and of the measures to assist them in registering as such agents, for example, whether it will consider waiving the academic requirement for those who have certain work experience?
Reply:
Madam President,
(a) Up to June 2007, over 1,100 persons have registered with the Insurance Agents Registration Board as travel insurance agents. These persons may only be engaged in travel insurance business as specified under the Code of Practice for the Administration of Insurance Agents.
(b) Since the "Travel Insurance Agents Examination" was introduced in mid-2006, about 2,300 persons have passed the examination up to June 2007. According to the Travel Industry Council of Hong Kong, a main reason for those passing the "Travel Insurance Agents Examination" but not registering as travel insurance agents is believed to be their failure to meet the Form 5 education requirement.
Given the overriding consideration of according a more convenient means for the general public to acquire travel insurance while maintaining the standard of professional service, the Government is actively discussing with the industry an arrangement to provide one-off waiver of the Form 5 education requirement to travel agency staff who satisfy certain prescribed criteria (such as possession of ample trade experience and passing the examination before a specified date). We hope that such an arrangement could be finalised as soon as possible.
Ends/Wednesday, July 4, 2007
Issued at HKT 15:30
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