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Continuing Professional Development (CPD) Requirements


Overview

Licensed insurance intermediaries are required to be fit and proper persons to carry on regulated activities. In this regard, licensed insurance intermediaries who are individuals should continuously update their technical and regulatory knowledge, and refresh themselves on the ethical standards through CPD in order to ensure their professional competence and standard in providing service to the policyholders and potential policyholders.

CPD Requirements for Individual Licensees

Individual licensees must satisfy the CPD requirements set out in GL24: Guideline on Continuing Professional Development for Licensed Insurance Intermediaries (“GL24”) in each Assessment Period. Please refer to the GL24 for details. For ease of reference, the CPD requirements for individual licensees are summarized as follows:

  • During the transitional period (i.e. the first 2 Assessment Periods (1st Assessment Period: 23 September 2019 – 31 July 2020, and 2nd Assessment Period: 1 August 2020 – 31 July 2021)), individual licensees (except travel agents) are in general required to undertake a minimum of 10 CPD hours each year through participation in Qualified CPD Activities. Travel agents are required to undertake a minimum of 3 CPD hours of Qualified CPD Activities each year. For details, please refer to Annex 3 to GL24.
CPD Compliance Reporting Procedures for the Combined Assessment Periods 2019/20 and 2020/21

The CPD assessment period from 23 September 2019 to 31 July 2020 and the CPD assessment period from 1 August 2020 to 31 July 2021 (collectively referred to as “Combined CPD Assessment Periods”) have been combined due to the ongoing pandemic.   Individual licensees will be considered as CPD-compliant if they have earned sufficient CPD hours required for the Combined CPD Assessment Periods on or before 31 July 2021

All individual licensees are required to report their CPD compliance for the Combined CPD Assessment Periods no later than 30 September 2021For details of the CPD compliance reporting procedures, please refer to the circular issued by the IA on 1 April 2021 and the specified CPD Declaration Form

Please also refer to the FAQs on CPD related matters which may be updated from time to time.


CPD Miniseries

To help individual licensees and principals to have a better understanding of the CPD requirements and the CPD compliance reporting procedures for the combined assessment periods (2019/20 and 2020/21), the Insurance Authority has prepared a series of videos about CPD compliance and reporting procedures. Please refer to the Chinese version for the videos and the PowerPoint files.
 
  • The transitional period will end on 31 July 2021. With effect from the 3rd Assessment Period (i.e. from 1 August 2021 onwards), the minimum number of CPD hours for individual licensees (except travel agents) will be increased to 15 CPD hours for each Assessment Period, including a minimum of 3 compulsory CPD hours on “Ethics or Regulations” courses. Requirements for travel agents remain unchanged. 
  • Individual licensees can earn up to 5 CPD hours through participation in E-learning Activities recognized as Type 1 or 7 Qualified CPD Activities as defined in the CPD Guideline for each Assessment Period. For details of the requirements for E-learning Activities, please refer to “Requirements Applicable to E-learning Activities”.
  • Any CPD hours earned during an Assessment Period in excess of the total number of minimum CPD hours required cannot be carried forward to the next Assessment Period. 
  • Individual licensees are required to report the Qualified CPD Activities they have attended in each Assessment Period to the Insurance Authority (“the IA”) in a format and manner prescribed by the IA and their Appointing Principal(s) no later than 30 September (i.e. within 2 months after the expiration of the relevant Assessment Period).
    • Details of the CPD reporting procedures and the CPD Declaration Form will be announced and released in due course. Please refer to the announcement on the IA's website from time to time. 
  • Individual licensees are required to retain sufficient documentary evidence in support of their attendance or completion of all the Qualified CPD Activities for at least 3 years after the end of the relevant Assessment Period.
  • Any failure to comply with the CPD requirements set out in the CPD Guideline by an individual licensee may result in a disciplinary action to be taken by the IA against that individual.

Qualified CPD Activities

There are 8 types of Qualified CPD Activities as set out in Annex 1 to the CPD Guideline:

Type 1: Approved CPD Activities
Type 2: Degree Programmes
Type 3: QF Accredited Insurance Programmes
Type 4: Other QF Accredited Programmes
Type 5: Studies for Attaining Specified Qualifications
Type 6: Fulfilment of CPD Requirements of Specified Qualifications
Type 7: CPD Activities Organized by the IA / Financial Regulators / Law Enforcement Agencies / Independent Statutory Bodies / Former Self-Regulatory Organizations
Type 8: CPD Activities Organized/Approved by Recognized Professional Bodies for their CPD Programmes

Type 1 Qualified CPD Activity (“T1 CPD”)

In order to be T1 CPD, CPD courses must be assessed and approved by the appointed CPD Assessment Authority, namely the Hong Kong Council for Accreditation of Academic and Vocational Qualifications (“HKCAAVQ”). CPD providers who wish to offer T1 CPD should submit their applications to the HKCAAVQ for assessment. Please access the website of the HKCAAVQ for the application procedures.


The HKCAAVQ has published on its website a “List of Currently Approved CPD Activities”, which is updated periodically. Individual licensees are advised to refer to this list from time to time for the latest list of T1 CPD.

List of Type 1 Qualified CPD Activities adopting virtual classroom arrangement for public


Type 1 Qualified CPD Activities which are delivered via virtual classrooms (e.g. Microsoft Teams, Cisco Webex, Zoom) are, subject to the prior approval by HKCAAVQ, regarded as an acceptable form of CPD activity. For the avoidance of doubt, these types of CPD Activities are not classified as E-learning Activities (as defined in GL24) and are not subject to the maximum cap of 5 CPD hours which is applicable to Type 1 E-learning Activities. Here is a list of such Type 1 Qualified CPD Activities that are open to public (i.e. not in-house CPD activities):


Type 7 Qualified CPD Activity (“T7 CPD”)

CPD Activities organized by the IA, financial regulators, law enforcements agencies, independent statutory bodies or former self-regulatory organizations (“former SROs”) can be recognized as T7 CPD. T7 CPD are not required to be assessed or approved by the HKCAAVQ. Instead, they are in general subject to prior administrative vetting by the IA:

This list is updated periodically for public information. Individual licensees are advised to refer to this list from time to time for the latest lists of T7 CPD.

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