Insurance body calls for lighter regulation

The Hong Kong Confederation of Insurance Brokers (CIB) is to press the industry regulator to further relax the burden of professional training legislation heaped on both agents and brokers, despite a recent reduction in statutory obligations. Eric Lee, CIB secretary-general, says the federation's membership has been growing increasingly concerned by the rising cost of "continuing professional development" regulations (CPD), which require both insurance agents and brokers to undertake at least 15 hours of accredited training a year in order to maintain their licenses.