... 20 Supervision of Insurance Intermediaries Insurance Agents Part X of the ICO provides the statutory backing for the self-regulatory system of insurance agents in Hong Kong. The Insurance Agents Registration Board (“IARB”) set up by The Hong Kong Federation of Insurers (“HKFI”) is responsible for the...

... 20 Supervision of Insurance Intermediaries Insurance Agents Part X of the ICO provides the statutory backing for the self-regulatory system of insurance agents in Hong Kong. The Insurance Agents Registration Board (“IARB”) set up by The Hong Kong Federation of Insurers (“HKFI”) is responsible for the...

... promoting industrial safety); · loss reduction: the lowering of the severity of identified possible losses (e.g. automatic sprinkler system); · risk transfer : making another party bear the consequences of one’s exposure to loss (e.g. purchase of insurance and contractual terms shifting responsibility for...

... nuclear accidents); - loss prevention: the lowering of the frequency of identified possible losses (e.g. activities promoting industrial safety); - loss reduction: the lowering of the severity of identified possible losses (e.g. automatic sprinkler system); - risk transfer : making another party bear the...