Overview
Financial Incentive Scheme for Professional Training ("FIS") subsidises the three Self-Regulatory Organisations ("SROs"), i.e. the Insurance Agents Registration Board ("IARB") (including the Hong Kong Federation of Insurers, which sets up the IARB), the Hong Kong Confederation of Insurance Brokers and Professional Insurance Brokers Association, in organising high-quality training courses focusing on the functional or topical areas in insurance. FIS aims to provide high-end courses at an affordable cost for insurance practitioners who wish to enhance their professional knowledge.
Eligible Applicants
- Professional Insurance Brokers Association
- The Hong Kong Confederation of Insurance Brokers
- The Hong Kong Federation of Insurers
Approved Training & Schedule
Professional Insurance Brokers Association
| Title of Training | Date of Training |
| Marine Hull Insurance | 10/1/2017 |
| Marine Liabilities Insurance | 17/1/2017 |
| Advanced Third Party Liability Insurance for Property Management | 15/9/2017 |
| Advanced Motor Insurance | 22/9/2017 |
The Hong Kong Confederation of Insurance Brokers
| Title of Training | Date of Training |
| Cyber Security Risk (A) | 16/1/2017 |
| Cyber Security Risk (B) | 16/1/2017 |
| Claims Management (A) | 16/1/2017 – 17/1/2017 |
| Claims Management (B) | 18/1/2017 – 19/1/2017 |
| New Developments in Regulatory Regime | 20/1/2017 |
| Marine Insurance (A) | 21/2/2017 – 22/2/2017 |
| Marine Insurance (B) | 23/2/2017 – 24/2/2017 |
| Broking Performance (A) | 21/3/2017 |
| Broking Performance (B) | 21/3/2017 |
| Infrastructure Projects (A) | 22/3/2017 |
| Infrastructure Projects (B) | 23/3/2017 |
| Risk Management (A) | 7/9/2017 |
| Risk Management (B) | 8/9/2017 |
The Hong Kong Federation of Insurers
| Title of Training | Date of Training |
| Seminar on Marine Insurance Law | 25/11/2016 |
| Developments in Insurance Law in the Common Law World | 13/10/2017 |
Downloads
FAQ
About SROs
1. Who are the eligible applicants of the Scheme?
The eligible applicants are the three Self-Regulatory Organisations (SROs) of insurance industry, i.e. the Insurance Agents Registration Board (IARB) (including the Hong Kong Federation of Insurers (HKFI) which sets up the IARB), the Hong Kong Confederation of Insurance Brokers (CIB) and the Professional Insurance Broker Association (PIBA).
2. What are the courses or training programmes eligible to apply for the Scheme?
Courses or training programmes of advanced level focusing on technical aspects of insurance business and topical areas arising from the latest developments in insurance industry are eligible for subsidy. More requirements can be referred to the Guidance Notes of the Scheme.
3. How will the amount of subsidy be decided? What would be the subsidy ceiling per course or training programme?
The total available funding for 3 years amounted to HK$4 million. The actual subsidised amount of each application depends on various factors such as the scale, topic and duration of course or training programme, expected number of participants and expenditures, etc. It will be considered and decided by the Vetting Committee.
4. What is the approval process of the application?
A preliminary screening will be conducted by the Secretariat of the Vetting Committee, while clarification or supplementary information might be sought from the applicant during the screening process. A meeting of Vetting Committee will be then arranged to consider and assess the submitted application. A Letter of Acceptance will be issued to successful applicant.
5. What are the assessment criteria of the Scheme?
The detailed assessment criteria can be referred to paragraph 5.7 and 5.8 of the Guidance Notes of the Scheme.
6. Can my organisation submit multiple proposals in an application?
Your organisation is allowed to submit more than one proposal in each application.
7. Any follow up materials are required to hand in after implementation of the approved application?
The applicant is required to submit in a specified schedule the progress report and post-implementation report together with supporting documents reporting the implementation progress and final status on its approved application to the Vetting Committee.
8. Can my organisation withdraw application after submission?
Your organisation should inform Vocational Training Council in writing to withdraw your application at any time before the decision of the Vetting Committee on your application. Government approval is required in the event that your organisation wishes to withdraw after funding approval has been granted. In this case, your organisation will be required to set out the reason and exit plan of withdrawing in writing. The Government reserves the right to claim from your organisation all or part of the fund that have been granted and used by your organisation.
9. Can my organisation change the application details, such as venue, topics, against the approved application during process?
Any modification, amendment or addition to the approved application by your organisation shall require approval by the Vetting Committee.
10. When will the Scheme invites application?
The application for the Scheme will open at least once each year during 2016/17 to 2018/19 to all eligible applicants. Schedule and rounds of application will be subject to the funding availability of the Scheme in each year.
About insurance practitioners
11. Will the courses or training programmes under the Scheme qualify for CPD hours?
There is no specific requirement on the CPD accreditation for the subsidised courses or training programmes under the Scheme. Participant should pay attention to the CPD information provided by the organisers.
12. How much are the courses or training programmes under the Scheme?
The registration fee of the subsidised courses or training programmes depends on different organisers.
13. How can I enroll to the courses or training programmes under the Scheme?
You should directly enroll through the organisers, i.e. HKFI, CIB and PIBA.
14. Can practitioners enroll to multiple courses or training programmes under the Scheme?
There is no quota on the total number of subsidised courses or training programmes enrolled by participant.
15. Where can I check the courses or training programmes offering under the Scheme?
The details and schedule of the subsidised courses or training programmes can be found at this website. More information and registration, please refer to the website of the three SROs, which are HKFI's website (www.hkfi.org.hk), CIB's website (www.hkcib.org) and PIBA's website (www.piba.org.hk).
