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Topical Issues

Public Consultation on the Review of the Trustee Ordinance and Related Matters

Pilot Programme to Enhance Talent Training for the Insurance Sector and the Asset and Wealth Management Sector

 

For the insurance sector, the pilot programme includes the following initiatives –

  1. Public education programme
  2. Training allowance for work-and-learn programme
  3. Internship programme
  4. Financial incentive scheme for professional training

 

a. Public education programme

To work with the insurance sector on publicity and outreach to promote public awareness of the wide range of career opportunities in the insurance sector and the career paths of functional jobs in the sector.

 

b. Training allowance for work-and-learn programme

To provide training allowance to trainees of the work-and-learn programme and sponsorship for overseas immersion programme. A structured work-and-learn programme would allow trainees to receive classroom training on insurance knowledge required for further progression of their careers, while acquiring hands-on work experience with earnings during the study period. On top of the annual remuneration of no less than $120,000 paid by the participating employer during the 16-month traineeship, to enhance the attractiveness of the programme, each trainee will also receive a total training allowance of $40,000 during the period.

 

c. Internship programme

To provide internship places in insurance companies and insurance broker companies to university students. Internship programmes allow university students to gain a better understanding of the operation of the insurance sector which would facilitate their consideration in deciding their future career. Out of the monthly honorarium for each student, the Government would contribute up to 75% or $7,000 (whichever is the lower) for an internship period of up to two months, while the remaining sum as well as the cost for guidance and coaching should be contributed by the participating employer.

 

d. Financial incentive scheme for professional training (FIS)

To subsidise 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), Confederation of Insurance Brokers and Professional Insurance Brokers Association, in organising high-quality training courses focusing on the functional or topical areas in insurance. The programme aims to provide high-end courses at an affordable cost for practitioners who wish to enhance their professional knowledge. SROs may partner with training institutes in organising the courses.

 

For more details on the above initiatives, please visit http://www.instalent.org.hk/en/

 

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