Hong Kong, 22 November 2023: Colin Cohen will continue his regulatory role in the insurance industry after being reappointed as a member of the Insurance Authority’s Disciplinary Panel Pool (DPP).
The DPP, which comprises Insurance Authority board members and other experienced professionals from the legal, financial and other sectors, is the industry’s disciplinary mechanism for licensed insurance intermediaries and authorised insurers.
“I’m honoured to be reappointed to the DPP and look forward to working with my colleagues to ensure continuing compliance in this hugely important industry,” says Colin, Senior Partner in Boase Cohen & Collins. “There are currently more than 1,700 insurance agencies and almost 80,000 agents in Hong Kong, while total gross premiums were HK$538 billion in 2022. Clearly, the insurance sector continues to be a significant driver of our city’s economy.”
Colin is one of 12 external DPP members to retain their roles while a further 20 have been added, all serving a three-year term. Together with 13 executive and non-executive directors, this brings the total DPP membership up to 45.
The Insurance Authority – established eight years ago as Hong Kong’s new industry regulator independent of the government – says the rise in DPP membership provides it with “the necessary increased bandwidth” to continue expanding enforcement and disciplinary work “so as to reinforce trust in the insurance market and protect policyholder interests”.