Can I apply for an insurance license from the Insurance Authority if I have criminal records?

August 10, 2021

 

To apply for an insurance license, you need to meet the “Fit and Proper” Guidelines issued by the Insurance Authority (IA). The IA will look into your past criminal records, the Monetary Authority / Securities and Futures Commission / MPFA / other relevant agencies’ sanction records, as well as whether there are any places where the court has ruled that your commercial entity is liable for fraud/misconduct, etc.

 

In other words, past criminal records will affect license applications. However, it is not absolutely impossible to successfully apply for a license with a criminal record. When processing the license applications, IA staff will also consider whether the criminal record is related to professional character. For example, accidental driving and fighting when young may not necessarily affect the success of the application. However, there is no explicit stipulation on what can and cannot affect the application. Instead, it depends on the judgment of the staff of the IA. After knowing that you have criminal records, the IA may also give you a chance to explain your circumstance, hence having a criminal record does not necessarily mean you can never gain a license. 

 

However, if you really have a criminal record, you must declare it. Do not deliberately conceal it. If you do not declare but they are discovered by the Insurance Authority, you may be rated as unreliable and unsuitable to become a licensee, and you may even commit another crime. 

 

How can we help?

2CExam provides HKSI LE, IIQE, EAQE and SQE related exam preparation materials. We sell mock question banks for IIQE Papers 1, 2, 3, 5 and MPFE in Chinese and English; and bibles for IIQE Papers 1, 2, 3, MPFE in Chinese. We also offer 1 on 1 tutorial services. Besides, we have also made free tutorial videos for IIQE Papers 1, 2, 3 and MPFE and posted on public channels such as Youtube/ Bilibili/ Tencent/ Iqiyi. 2CExam has been an exam training expert for years. Should you need any help please visit www.2cexam.com or contact us through:

Phone +852 2110 9644 Email: [email protected] Wechat: hk2cexam WhatsApp: +852 9347 2064

 

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