Document background
The Insurance Referral Agreement is essential for insurance companies operating in Hong Kong who wish to expand their distribution channels through formal referral partnerships. This document is used when an insurance company wants to establish a compliant referral relationship with a business partner who can introduce potential customers but cannot sell or advise on insurance products. The agreement ensures compliance with Hong Kong Insurance Authority requirements, particularly regarding the distinction between regulated insurance intermediary activities and permitted referral activities. It includes crucial details about referral processes, compensation, data protection, and regulatory compliance, while protecting both parties' interests and ensuring clear operational guidelines. The document is particularly important in the Hong Kong market where insurance distribution through referral partners is common but must be carefully structured to comply with regulatory requirements.
