The global trend towards rising insurance premiums has hit many industries hard, including Hong Kong's brokerage sector.
The cost of fidelity insurance, compulsory for the sector's 500 brokers, has risen 150 per cent this year, according to the Hong Kong Stockbrokers Association.
Vice-chairman Henry Chan said the annual premium had risen from HK$10,000 to HK$25,000.
He complained this had added to the operating costs of brokers, who were already suffering from low-market turnover.
Fidelity insurance covers brokers for losses they may incur from fraud committed by their staff or clients.
Bernard Charnwut Chan, legislator for the insurance sector, said global insurance premiums had increased from early this year due to the losses many insurers had suffered in the past few years.