Your guide to membershipSupporting you as a professional

2017 Edition

cont

ents 2 Welcome

•Supportingprofessionalism

•Yourprofessionaldevelopment

•Gettingthemostfrommembership

4 Code of Ethics

9 Continuing Professional Development

14 Knowledge

22 Faculties

23 Affinity benefits – Perks

24 Local and global

26 The Journal

28 CII insurance qualifications

30 Levels of membership

32 Summary financial statements and accounts

33 Support schemes

Professionalism in practice

Asthepremierprofessionalbodyfortheinsuranceandfinancialplanningprofessions,theCIIpromoteshigherstandardsofintegrity,technicalcompetenceandbusinesscapability.

Withover120,000membersinmorethan150countries,theCIIistheworld’slargestprofessionalbodydedicatedtothesesectors.

SuccessinCIIqualificationsisuniversallyrecognisedasevidenceofknowledgeandunderstanding.MembershipoftheCIIsignalsadesiretodevelopbroadprofessionalcapabilityandsubscribetothestandardsassociatedwithprofessionalstatus.

TheCIIworkswithbusinessestodevelopbespoke,company-widesolutionsthatensurecompetitiveadvantagebyenhancingemployees’technicalandprofessionalcompetence.

Individually,CIImembersareabletodrivetheirpersonaldevelopmentandmaintaintheirprofessionalstandingthroughanunrivalledrangeoflearningservicesandbyadheringtotheCIICodeofEthics.

www.cii.co.uk

The Chartered Insurance Institute (CII)

Welcomecii.co.uk/membership

2 | For further information go to www.cii.co.uk/membership For further information go to www.cii.co.uk/membership | 3

Benefit from membership:

Code of Ethics

Continuing Professional Development

Knowledge

Faculties

Affinity benefits

Local institutes and global support

The Journal

Qualification and learning discounts

Designations

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As a member you have access to a vast range of career support and professional development services.

We hope that this guide will act as a useful reference to the range of resources available to you. Please take a few minutes to familiarise yourself with what’s on offer.

Supporting professionalismTheCIIisadiversecommunityofover120,000individualsinmorethan150countries.Asmembers,weallshareacommoncommitmenttomaintainingandpromotingprofessionalstandardsofcompetence,relevanceandintegrity.

Thisisachievedthroughacombinationofdifferentactions,includingcompletionofappropriatequalifications,theundertakingofcontinuingprofessionaldevelopment(CPD),andadheringtoapublishedethicalcode.

Asamember,there’saneedtoattain,thenmaintainyourownprofessionalstatusandtheCIIisheretohelpyou.

Your professional development

Whetheryouarestartingoutinyourcareer,studyingforyourfirstqualification,ormovingintoanewfield,CIImembershipwillhelpyoudevelopandthenmaintainyourknowledge.

Pages28–29offeranintroductiontotherangeofqualificationsandlearningweoffer–includingexclusivememberdiscounts–soyoucanmapoutapathwaytomeetyourcareeraims.

Maintainingknowledgeisasvitalasgainingit,andifyouare,ortobecome,aqualifiedmemberyouarerequiredtokeepyourknowledgeup-to-date.Butdoingsoisnotaburden.OurcomprehensiveCPDscheme(page9)explainsclearlywhatisrequiredandthisguidehighlightsthemanytools,services,courses,eventsandpublicationsweprovidetomakeiteasierforyou.

Beingaprofessionalimpliesthatpeoplewhoseekyouradvicecanrelynotonlyontheaccuracyoftheinformationyouprovidethem,butalsoonyourintegrityinallyourbusinessdealings.

TheCIICodeofEthics(page4)isapracticalguidetohelpyoudeliveraprofessionalservice.Itexplainswhatwemeanbyprofessionalbehaviourinallyourdealingswithothers,whetherclientsorcolleagues.AdherencetotheCodeisarequirementofallmembers.

Getting the most from membership

Byjoiningacommunityoflike-mindedprofessionals,membershipoftheCIIoffersyoumanyotheradvantages.

Weofferonlineaccesstoahugearrayofknowledge,frommarketdataandregulatoryupdatesthroughtoresearchreports.Youwillfindfurtherinformationontheseresourcesthroughoutthisguide.

TheJournal,ourinformativemembermagazine(page26),ishighlyregardedforitscoverageofregulatoryandmarketactivityworldwide.Publishedbi-monthly,TheJournalwillkeepyouabreastofnewsfromtheCII,localinstituteactivitiesandtopicalsectorissues.

OurlocalinstitutesprovidecareersupportonthegroundforUKmembers(page24)andfreefacultymembershipdeliversadditionalhighquality,tailoredCPDinformation,eventsandupdatesacrosskeydisciplinesandsectors.Seepage22forfurtherinformation.

Don’t miss out...

Themajorityofourcontentandinformationisonlineandemailisourprincipalmethodofcommunication.Tomakesureyoudon’tmissout,checkthatwehaveyourcorrectemailaddressbygoingtowww.cii.co.uk/myciiorbycallingCustomerServiceon+44(0)2089898464.

The CII has provided me with the support to succeed. I have especially valued the wide-ranging technical and market information available online and the status of being a CII member – my career prospects are stronger as a result.

MichaelClarkeACIIStrategyAssociate,AonInpoint

Code of Ethicscii.co.uk/codeCo

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For further information go to www.cii.co.uk/code | 54 | For further information go to www.cii.co.uk/code

As professionals we commit to maintaining and supporting the highest principles of integrity, probity and ethical fair dealing.

That means upholding clearly defined and objectively measured standards of behaviour. These standards are contained within the CII Code of Ethics which all members are required to uphold as a condition of membership.

Pureprofessionalism,asarticulatedandpromotedbytheCodeisapowerfulbusinesstoolthatbuildstrust.Andtrustbuildsareputationthatpeoplevalue.

Setoutinfullbelowandoverleaf,theCodeoutlinesfivecoreduties,presentedinaclearandunambiguouswayandsupportedbymaterialthatwilldeepenyourunderstandingofthekeyissues.

1. You must comply with this Code and all relevant laws and regulations.

This includes, but is not limited to:

1.1 dealingwiththeCIIinanopen,clearandco-operativemanner;

1.2 dealingwithregulatorsinanopen,clearandco-operativemanner;

1.3 ensuringregulatorsandtheCIIaretreatedcourteouslyandnotinavexatiousorfrivolousmannerandthatallqueriesaredealtwithpromptly;

1.4 meetinganyContinuingProfessionalDevelopment(CPD)requirements;

1.5 workingnotonlywithinthelawbutalsowithinthespiritofthelaw;

1.6 ifwithinyourcontrol,makingsureyourorganisationissuitablyregulatedandhaseffectivecompliancearrangements;

1.7 ensuring,whererequired,youareindividuallyauthorisedorregulated;and

1.8 reportinganybreachesoftheCodetotheCII.

Wherethiscoredutyconflictswithanothercoredutythisdutywillhavepriorityovertheothers.

Bywayofexample,notwithstandingcoreduty3,itisyourdutytogiveconfidentialinformationtotherelevantauthoritieswheretheinformationrelatestoacriminalactorfraudbyyourclient.

Some key questions to ask yourself:

•AmIup-to-datewithrecentregulatoryandlegislativedevelopments?

•AmIawareofgeneralbusinessregulatoryrequirementscoveringareassuchasadvertising,dataprotectionandcompetition?

•DoItakefullaccountofreportsonindividualcasesfromombudsmanservices,aswellasthewiderregulatoryandlegalframework?

•DoIappreciatethegeneralpurposeoftherulesIamfollowing,forexample,doIfollowtheletteroftheregulationbutfailtothinkabouttheoutcomeformyclient?

•AmIawareofinternalcompliancearrangements?

•DoIconsiderthecompliancearrangementswithinmyorganisationareeffectiveandcomplywithallrelevantregulations?

•AmIawareofhowtoupdateorcorrectcompliancearrangementsorwhomtocontactiftheyrequirechangeorupdate?

2. You must act with the highest ethical standards and integrity.

This includes, but is not limited to:

2.1 beinghonestandtrustworthy;

2.2 beingreliable,dependableandrespectful;

2.3 nottakingunfairadvantageofaclient,acolleagueorathirdparty;

2.4 notbringingthefinancialservicesindustryortheCIIintodisreputewhetherthroughyouractionsinworkoroutsidework;

2.5 notofferingoracceptinggifts,hospitalityorserviceswhichcould,ormightappearto,implyanimproperobligation;

2.6 promotingprofessionalstandardswithintheindustry;

2.7 encouragingyourorganisationtoproduceanethicalcode;

2.8 makingsureyourCIImembershiporcharteredstatusisdescribedcorrectly;

2.9 informingtheCIIofanychangeinyourworkorcircumstanceswhichaffectyourmembershiporcharteredstatus;and

2.10operatingbothprofessionallyandinafinanciallyresponsiblemannerincludingavoidingpersonalinsolvency.

Key questions:

•WhatwouldanoutsiderthinkofwhatIamdoing,anddoesthismatterethically?

•HowwouldmyactionslooktotheCII?

•ShouldIdiscussmyproposedactionswithmysuperiororanotherappropriatepersonortheCII?

•DoIknowifmyorganisationhasanethicalcodeanddoIfullyunderstandit?

•Doesmyorganisationrewardgoodethicalbehaviour?

•Doesmyorganisationfollowawhistle-blowingpolicy?

•HowcanIpromotetrustinmyorganisationandthefinancialservicesindustry?

•Dopeopletrustme?Ifnot,whynot?

•DoIthinkitisOKifIdon’tgetcaught?

•DoIsay“showmewhereitsaysIcan’t”ordoIsay“isthisethical”?

•WhyamIbeingentertainedorofferedhospitality?

3. You must act in the best interests of each client.

This includes, but is not limited to:

3.1 encouragingyourorganisationtoputfairtreatmentofclientsatthecentreofitscorporateculture;

3.2 basingyourdecisionsonaclearunderstandingofclientneeds,priorities,concernsandcircumstances;

3.3 givingyourclientalltheinformation,ofwhichyouareaware,whichisneededforyourclient

tomakeaninformeddecisionprovidedthatinformationisnotconfidentialtoanotherclient;

3.4 makingsurethepromisesyoumaketoclientsaboutaproduct’sperformanceandtheaftersaleservicearetrue;

3.5 respectingconfidentialinformationofclients,formerclientsandpotentialclients;

3.6 ensuringyoudonotuseinformationfromworkimproperlyand/ortoyourpersonalorbusinessadvantage;

3.7 turningdownworkwhereaconflictofinterestexistsbetweenyouoryouremployerandtheclient;and

3.8 refusingtoactwhereaconflictofinterestexists,savewhereactinginthesecircumstancesisexpresslypermittedbyaregulator.

Aconflictofinterestisasituationinwhichsomeonehascompetingprofessionalorpersonalinterests.Dependingonthecircumstances,theremaybeaperceivedratherthananactualconflictofinterest.Bothperceivedandactualconflictsmustbedealtwithappropriately.

Conflictsofinterestcanarisewhere:

•youowe,oryourfirmoremployerowes,separatedutiestotwoormoreclientsinrelationtothesameorrelatedmattersandthosedutiesconflict,orthereisasignificantrisktheymayconflict;or

•yourdutytoactinthebestinterestsofanyclientconflicts,orthereisasignificantriskitmayconflict,withyourowninterests.

Key questions:

•AmIactingfairlytowardsthisclientormyemployerormycolleagues?

•Aremyopinionsandstatementsobjective?

•AmIbeinghonestandtruthful?

•HowcanIbetterhelpmyclienttomakecapableandconfidentdecisions?

•WouldIliketobetreatedinthiswayifIwereaclient?

•Isthisinthebestinterestsofmyclientormybonus?

•DoItrytocoverupmymistakes?

•Doesmyorganisationrewardarrangementsthatdeliverfairtreatmenttocustomersaswellasofferincentivestohelpemployeesgrowthebusiness?

•Areemployeesrewardedinwayswhichencouragethemtoputtheirclient’sbestinterestsfirst?

•Iftheclientisvulnerable,whatextrastepscanItaketomakesureIactinmyclient’sbestinterest?

•HowcanIhelpmyclientstounderstandfinancialservices?

•DoIprovideclearinformationpreandpostsale?

•DoIlistentomyclientsorjusthearthem?

•Willactingforthisclientcompromisemyposition?

•IfIactforthisclientwillitharmthemorbetothedetrimentofanotherclient?

4. You must provide a high standard of service.

This includes, but is not limited to:

4.1 communicatingwitheachclientinawaythatisaccurateandstraightforwardandexpressedinawaythattheindividualclientcanunderstand;

4.2 beingtransparentaboutfeesandothercosts;

4.3 makingsurereasonablestepsaretakentoensurealladviceisaccurateandsuitablefortheindividualclient;

4.4 obtainingandprovidingclearinformationbefore,duringandafterthepointofsale;

4.5 ensuringadequateandcorrectrecordsarekept;

4.6 actingwithskill,careanddiligence;

4.7 actingonlywithinyourabilityandauthorisationandseekinghelpwherenecessary;

4.8 ensuringyourknowledgeandexpertiseiskeptup-to-dateandrelevantforyourwork;

4.9 ensuringthosewhoworkforyouhaveappropriatetrainingandsupervisionandcontributingtotheirlearninganddevelopment;and

4.10 ifitiswithinyourcontrol,makingsureyourfirmhasaclearwrittencomplaintsprocedurewhichisfollowed.

Key questions:

•DoIdowhatIsayIwilldoanddoitwhenIsayIwill?

•HowcanIimprovetheserviceIgivemyclients?

•AmIapproachable?

•DoIgiveandreceiveconstructivefeedbackto/fromcolleagues?

•Doesmyorganisationseekfeedbackfromclients?

•Doesmyorganisationhaveaswiftandeffectivemechanismforresolvingcomplaints?

•DoIlearnfromcomplaints?

•DoItakecomplaintsseriously?

•CanIimprovemyknowledgebyadditionaltraining?

•DoIencouragesubordinatestoincreasetheirknowledge?

•DoIaskforhelpwhenIneedit?

•Doesmyorganisationhavesystemsformanagingpaperworkanddatawhichwork?

•Doesmyorganisationassesscustomersatisfactionandprovidefeedbacktoemployees?

5. You must treat people fairly regardless of: • age; • disability; • marriage and civil partnership; • pregnancy and maternity; • race; • religion and belief; • sex; • sexual orientation; and transgender.

This includes, but is not limited to:

5.1 treatingeachpersonasanindividual;

5.2 challengingandreportingunlawfulorotherwiseunfairdiscriminatorybehaviourandpractice;

5.3 alwaysactingopenlyandfairlyandtreatingemployers,employees,colleagues,clients,potentialclientsandsupplierswithequalrespectandopportunity;

5.4 makingreasonableadjustmentstoassistpeoplewithdisabilitiesorparticularneedsyoumaydealwithatwork;

5.5 encouragingyourorganisationtoproduceandpromoteanequalityanddiversitypolicysettingouthowthebusinessplanstopromoteequality,diversityandinclusion,preventdiscriminationanddealwithanyinstancesofdiscriminationwhichmighthappen;and

5.6 ifitiswithinyourcontrol,makingsureprocessesandproceduresdonotdiscriminate.

You should be aware:

•disabilityisdefinedasaphysicalormentalimpairmentwhichlasts,orwilllast,foroverayearandwhichadverselyaffectstheindividual’scapacitytoundertakedaytodayactivities.Itincludesconditionsasdiverseasdyslexiaandcancer;

•raceincludesethnicornationalorigin,colourandnationality;and

•religionandbeliefincludesnonreligiousbeliefs(includingno-religion)andphilosophicalbeliefswhichimpactuponthewayinwhichanindividualchoosestolivetheirlife.

Key questions:

•IfIbelongedtoanyoftheseprotectedcharacteristics,wouldIfeelunfairlydisadvantaged?

•Iswhatweareaskingformoredifficultforthispersontoachieve?And,ifso,isthethingwewantreallynecessaryorcanwemakeanadjustmenttomakeiteasierforthepersontoachieve?

•WhatcanIdotopromoteaworkforcethatisrepresentativeofthepeopleweserve?

•Doesmyorganisationhaveeffectiveequalityanddiversitytrainingarrangements?

•Doesmyorganisationsystematicallyaudititsownpoliciesandpracticetoensurethatthesecomply?

•Doesmyorganisationcreateunnecessaryhurdlesforthisperson?

For further information go to www.cii.co.uk/code |76 | For further information go to www.cii.co.uk/code

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Additional free ethics supportThefollowingadditionalguidanceisavailabletohelpenhanceyourappreciationoftheCodeandwhatitisdesignedtoachieve:

• Online ethics course–Whatismeantby‘ethics’?Thisfreeonlinecourseexploreswhatethicsmeaninthebusinesscontext,withreferencetoinsurers,brokersandfinancialserviceorganisations.Itincludesexamples,casestudies,questionandanswersessionsandlinkstofindoutmore.Seewww.cii.co.uk/code

• Code of Ethics – Your practical guide –withcasestudiestohelpyouunderstandthefiveprincipleswhichunderpintheCode.Seewww.cii.co.uk/code

• Guidance papers – aseriesofpapersincludingguidanceoncultureandethicswithinyourorganisation.Seewww.cii.co.uk/policy

TheCIICodeofEthicsissubjecttoregularreviewtoensureitremainsrelevantandappropriate.ThispublishedCodehasbeenupdatedtoimproveclarityandtoreflectrecentchangesintroducedbytheEqualityAct.Thisupdatedversioncameintoforceon14th April 2014.

Please note:FailuretocomplywiththeCodemayresultindisciplinaryactionbeingtakenagainstyouand,whereupheld,detailswillbepublishedalongwithyournameandemployer’snameinTheJournalandontheCIIwebsite.

Forfurtherdetailsvisitwww.cii.co.uk/code

Continuing Professional Development (CPD) is essential for every professional, ensuring you keep your skills and knowledge up-to-date and in turn remain competent. And, if you hold a CII qualification, compliance with the CII CPD scheme is a requirement of membership.

CIIqualifiedmembersarethoseentitledtouseanyofthefollowingqualificationdesignationsandtitles(andanyderivativesofthesame):CII(Award);CertCII;DipCII;ACII;FCIIandCharteredInsuranceBroker/Insurer/InsurancePractitioner/InsuranceRiskManager.

PleaserememberthatfailuretocomplywiththeCII’sCPDrequirementswillresultindisciplinaryaction,suchasthewithdrawaloftherighttouseyourqualificationdesignationand/orCharteredtitle.

Why is CPD important?

CPDisacommonrequirementforqualifiedmembersofprofessionalbodies,reflectingthefactthat,intoday’sfastchangingworld,knowledgegainedthroughqualificationsquicklydates.

Equally,memberqualificationdesignationsarenotsimplyanindicatorofstudycompleted,butalsoademonstrationofyourcommitmenttokeepyourknowledgecurrent.

Typically,mostinsurancepractitioners,whatevertheirsectorspecialismorjobrole,undertakeprofessionaldevelopmentinthecourseoftheiremploymenttoremaincompetentandup-to-date.

TheCIICPDschemeprovidesapracticalframeworkforensuringdevelopmentisaddressedinastructuredwaytomeetyourneedsandthoseofyouremployer,aswellastherequirementsoftheCIIasaCharteredprofessionalbody.

CPDhelpsensurethat,asaCIIqualifiedmember,youhavetheknowledgeandskillsnecessarytosucceedinacompetitivemarket.Ithelpsyouto:

•buildpublicconfidenceandcredibilityinyourprofessionalknowledgeandensuresthatyouadaptpositivelytochangebycontinuouslyupdatingskills;

•developyourcareergoalsbyfocusingonrelevantlearninganddevelopment;

•bemoreproductiveandefficientbyreflectingonyourlearning,andhelpingyoufillgapsinyourknowledgeandexperience.

What does the scheme involve?

TheschemeappliestoallCIIqualifiedmembers,whetherbasedinoroutsidetheUK.

Insummary:

•youmustcompleteaminimumof35hoursofcompulsoryCPDeachyear,ofwhichatleast21hoursmustbe‘structured’CPD;

•although35hoursistheminimumrequiredbytheCII,inpractice,yourCPDmayexceedthisastheactualrequirementisdeterminedbyyourindividualdevelopmentneedsinany12-monthperiod;

•foranactivitytobeeligibleasCPDitmustbeaminimumof30minutesinduration.Agroupofdifferentactivitiesoflessthan30minuteseachundertakentomeetaspecificlearningoutcomecanbecombinedandrecordedtogether;and

•youmustkeeparecordofCPDactivityyoucomplete.Butnotethattheschemeisself-certifying.Developmentactivitiesshouldonlyberecordediftheyhaveassistedyourprofessionaldevelopment.

Continuing Professional Developmentcii.co.uk/cpd

CPD

For further information go to www.cii.co.uk/cpd | 9

* Source: CII statistics 2016

To find out more Visit: www.cii.co.uk/examsuccess Call: 020 8989 8464

Take a day to improve your chances of exam success by up to 48%*

CII revision courses provide expert tutor support ahead of the exam and are designed to improve your chances of passing.

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Memberssave up to18%

Structured and unstructured CPDStructured CPDisanyformallearningactivitydesignedtomeetaspecific development need(thisiswhatanindividualisexpectedtoknow,understandordoasaresultoftheirlearning).AnexamplewouldbeattendingatechnicallecturetounderstandtheimplicationsoftheSeniorInsuranceManagersRegime(SIMR).

Structuredlearningactivitiestypicallyinclude,butarenotlimitedto:

•studyingfororsittingexaminations,testsandassessments;

•participatinginseminars(web-basedorinperson);

•lectures;

•conferences;

•workshops;

•on-the-jobtraining;

•courses;and

•completingappropriatee-learning.

Unstructured CPDisanyactivityyouconsidertohavemetalearning objective,buthasnotbeenspecificallyundertakenforthispurpose.

Thismightincludereadingatradepublicationwhichhappenstoincludeatechnicalarticleonatopicforwhichyouhaveadevelopmentneed.

Suitable CPD activities

Adetailedindicativelistofsuitableactivitiesisprovidedonline,includingbutnotlimitedto:trainingcoursesandworkshops;conferences;seminarsandwebinars;on-the-jobtraining;studyingforandsittinganexamination;pro-bonoworkandmentoring.

Anextractisshownbelow.

ThelistofsuitableCPDactivitiesisconstantlybeingrefinedandupdatedtoreflectevolvingdevelopmentactivity.Forthecurrentlistingandforfurtherguidancepleasegotowww.cii.co.uk/cpd

Extract from ‘CPD guidance for CII members’

Development activity

Definition Types of evidence you should look to keep as proof of completion

Structured or unstructured?

Examination and tests

Anyoneexamination,testorassessmentofferedbyanexaminingbodywhichisbusinessrelated,includingallrelatedstudyandtimespentinanexaminationsitting.

• Copyofqualificationcertificateorexam/test/assessmententryconfirmation(ifnotCII)

• Copyofexam/test/assessmentsyllabus(ifnotCII)

• Informationreceivedfromyouremployer(ifapplicable).

StructuredThisinvolvesactivitywhich:• hasstatedlearningobjectives,activity

designedtoaddressthese;andsomeformofassessmentorreflection;and

• addressesanidentifiedlearningneed.

Formal discussions/meetings

Discussionsfacilitatedbyathirdparty(internalorexternal).Participationmayincludefocusgroups,researchinitiatives,committeesortechnicalevents.Excludesattendanceatsocialeventsandclientsales/promotionalmeetings.

• Meetingagendaoranywrittendetailsofthepurposeofthediscussion

•Officialminutesofthemeeting/discussionorwrittenconfirmationofyourparticipationbytheorganisers

•Writtenconfirmationofyourparticipationbytheorganisers(ifnotCII/PFS)

•Copiesofresearchresults.

Normally unstructuredThisinvolvesactivitywhichdoesnothavestatedlearningobjectives,andsupportingactivityandassessmentsdesignedtoreinforcethese.Insteadthesetypicallycoveridentifiedlearningpointsincidentally.

Recording your CPD

YoucanuseanymethodtorecordyourCPD,butitmustprovidethefollowinginformation:

•yourlearninganddevelopmentneeds;

•theactivitiesyouhaveundertakentomeetthese;

•whethertheactivitywasstructuredorunstructured;

•thehoursyouhaverecordedagainsteachactivity;and

•areflectivestatementoftheobjectivesachieved,answeringthequestion:“Didtheactivitymeetmylearningneeds?”

Werecommendelectronicrecordingforeaseofupdatingandsubmission.TosupportthiswehavedevelopedafreeonlineCPDplanningandrecordingtoolandhavealsolaunchedaCPDapp(seebelowforfurtherinformation).Papersubmissionscanalsobemade.

Youshouldkeepanyevidenceoftheactivityyouhavecompleted,forexample,acertificateofattendance,aswemayasktoseethisifyourrecordisselectedforreview.

Submitting your CPD record

YouonlyneedtosubmityourCPDrecordiftheCIIrequeststoseeit.Typically,werandomlysampleuptotenpercentofmembers’recordsannuallytochecktheyhavebeenfullyandcorrectlycompleted.

ForfulldetailsontheCIICPDscheme,visitwww.cii.co.uk/cpd

For further information go to www.cii.co.uk/cpd | 1110 | For further information go to www.cii.co.uk/cpd

CPD

CPD

Manage your CPD records on the go with our smartphone app

Apple App Store Google Play

The ‘CII CPD’ app is available to download on your Apple or Android device, enabling you to manage your CPD record anywhere, anytime.

Download ‘CII CPD’ today from the Apple App Store or Google Play and login using your CII PIN or email address and password.

Ethical culture series

Ourseriesofguidancepapersformembersprovidehintsandtipsonvariouselementsofethicsandculture,includingwhistleblowing,personalresponsibilityandsupportforsmallfirms.

Thinkpieces

TheCIIactivelypromotesdebateintheinsuranceprofessionacrossarangeoftopical,globalissues.TheThinkpieceseriescarriestheviewsofindependentsubjectexpertsonissuesasdiverseas:cyberrisk;ethicsandeconomics;andresilienceinretirement.ThinkpiecesincludereflectivequestionsandcancountasstructuredCPD.

CIIThinkpiecescanbeviewedat: www.cii.co.uk/thinkpiece

Guidance documents

Tosupportyouinyoureverydaywork,weproduceguidescoveringarangeoftopicsincludingapprenticeships,equalityanddiversityandethicalculture.

CIIguidancedocumentscanbefoundat:www.cii.co.uk/policy

ThissectionfocusesontherangeofCIIproducedandcommissionedreportsandpapersavailabletoyou.InformationonfurtherCPDsupportcanbefoundthroughoutthisguide.

Research papers

Aswellasreportingdevelopmentsintheregulatoryandpoliticalsphere,wealsoundertakeresearchthathelpsmembersgainaninsightintoarangeofdifferenttopics.

CIIresearchpaperscanbefoundat:www.cii.co.uk/research

Membership briefings

Thispackageofexclusivebriefingsandpolicyupdatestellsyouallyouneedtoknowaboutkeyissues–governmental,regulatory,UKandnon-UK–facingtheinsurancesector.

CIIbriefingscanbefoundat:www.cii.co.uk/briefings

Yourmembershipgivesyouaccesstoavastrangeofcontentandservicestohelpyoumeetyourdevelopmentneeds.Thisincludesmarketreportsandtechnicalpapers,onlinepublicationsfromtheCIIandothersectorexperts,webinars,eventsandmuchmore.

For further information go to www.cii.co.uk/cpd | 1312 | For further information go to www.cii.co.uk/cpd

CPD

CPD CPD member support and thought leadership

Know

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Access key market information through our comprehensive collection of insurance and financial planning resources. For reference, research, to support your learning or for your continuing professional development (CPD), Knowledge Services provides you with access to a vast array of materials.

Online resources

Awiderangeoftechnicalandmarketinformationisavailableonline,andincludes:

Audio presentations – aselectionofnarratedpresentationsdeliveredbysubjectmatterexpertscoveringavarietyoftechnical,regulatory,generalbusinessandsoftskillstopics.

Axco Insight compliance – acompliancetoolofferinganoverviewofthekeyregulatoryandtaxcomplianceconditionsapplicabletoconductinginsuranceinover170markets,deliveredinaconciseandflexibleformat.

Dictionaries –coveringinsurance,banking,financeandmanagementterms.

eBooks – anexpandingcollectionofover1,250eBookscoveringawiderangeoftopicsincludinginsurancelawandpractice,financialplanning,riskmanagement,behaviouraleconomics,Sharialawandfinance,aswellasleadershipandmanagementtopics.

Fact files –over50in-depthtechnicalguidescoveringkeyindustrytopicsaswellaslessfamiliarorspecialistareas,writtenbyexpertsinthefieldandregularlyupdated.

FCII dissertations – anarchiveofsampleFCIIdissertationsandprojectsspanningover20years.

Guide to classes of insurance – abeginners’guidetoinsuranceforthosemembersnewtotheinsurancesectororforthoselookingtogainmoreinformationonwhichareastospecialisein.

Insurance Institute of London lectures – anarchiveofallavailablepodcastsandlecturenotes

fromtheInsuranceInstituteofLondon’sannuallectureprogramme.

Insurance Institute of London revision lectures – acollectionoflecturesofferinggeneraladviceonlearningtechniquestohelpyouwithyourexampreparations.

Insurance sector reports – annuallyupdatedreportsproducedbyTimetric,MarketLineandVerdictFinancialcoveringmarkettrendsandanalysis,rankings,forecasts,regulatoryinformationandinsightintohottopicsininsurance,allwithsupportingstatistics.

Journals and magazines – aselectionofacademicjournals,tradepublicationsandmagazinescoveringgeneralinsurance,riskmanagement,actuarialscience,financialplanningandcompanyandmarketinformation.

Law databases – accesstoi-law.comandtheInternationalEncyclopaediaforInsuranceLaw,eachprovidingaccesstoavastrepositoryofupdatedlegalknowledge.

Past exam guides – anarchiveofpastexampaperswithmodelanswersforwrittenresponsebasedexams.

Research skills guide –aguideonhowtofindinformation,evaluateitandwhenandhowtouseitwhenwritingessays,reportsanddissertations.

Risk.net – theworld’sleadingsourceofexclusive,in-depthnewsandanalysisdeliveringthelatestdevelopmentsinriskmanagement,derivativespricingandtrading,bankingregulation,lawanddocumentation,exchanges,clearingandsettlement.

Soft-skill guides – acollectionofdownloadableeBookscoveringsoft-skilltopicssuchascustomerservices,diversityintheworkplace,socialmedia,managingpeople,reportwriting,interviewing,projectmanagementandmanymore.

Takealookatthefullrangeofonlineresourcesavailableat www.cii.co.uk/knowledge

Visit the library

MembershavefreeaccesstotheCIIlibrarylocatedat20Aldermanbury,London.Thelibraryhousesaspecialistcollectiondedicatedtoinsurance,riskandrelatedfinancialservices,andisthelargestofitskindintheUKandoneofthelargestintheworld.

AlthoughourprimaryfocusiswithintheUK,thecollectionhasincreaseditsinternationalfocusinrecentyears.Ourcoverageisnearcomprehensive–ifwedon’tholdtheinformationyou’relookingfor,thenitprobablyhasn’tbeenpublished.

Thelibraryprovidesanidealbaseforprivatestudy,andasmallnumberofPCsandtabletsareavailableforuseandtoaccessouronlineresources.Wi-Fiisavailablewithinthelibraryifyouwishtouseyourownlaptop.

Library content includes:

• 15,000booksandreports,includingcopiesofallCIIstudytexts.

• 200magazinesandperiodicals.

• SubscriptionstoAMBest,VerdictFinancial(lifeandprotection)and©Timetric’sInsuranceIntelligenceCentre,offeringworldwideandin-depthcoverageofinsuranceandfinancialservicesmarketdata.

• UnpublishedworksuniquetothecollectionsuchasFCIIdissertations.

Enquiry and research service

Staffareonhandtoassistmemberswiththeirinformationneedswhetherashortenquiry,in-depthresearchorassistanceinusingtheonlineservices.DrawingontheCII’sexclusiveaccesstothirdpartyproviders,statisticsandrelevantsectionsofreportscanbeemailedtoanswerspecificquestions(copyrightrestrictionsapply).

AsamemberyoucanborrowbooksbypostfordeliverytoEuropeancountries.Youcanalsoorderphotocopiesorprintoutsfromlibrarystockandothermaterial.Copiescanbesentanywhereintheworldinhardorsoftcopy(copyrightrestrictionsapply).

Tofindoutmorevisit www.cii.co.uk/researchservice

Knowledgecii.co.uk/knowledge

For further information go to www.cii.co.uk/knowledge | 1514 | For further information go to www.cii.co.uk/knowledge

Discovery toolManyoftheresourceslistedaboveareavailablethroughDiscovery,anonlineresearchtoolwhichenablesyoutobrowsemillionsofrecordstohelpyoufindtheinformationyourequire.

Thisresourceaggregatesmaterialfromseveraldatabasescoveringgeneralinsurance,lifeandpensions,financialplanning,riskmanagement,

businesscontinuity,aswellasresourcesonleadershipandmanagement.

ThecollectionincludeseBooks,articles,marketreportsanddictionaries,allofwhichareavailableonline.YoucanalsodownloadandborroweBooksonyourPC,mobileortabletdevice.

Findoutmoreatwww.cii.co.uk/discovery

Highqualityinformationisthelifebloodofbusiness.Relevant,accurateandcurrentdataisessentialinmakingtherightdecisions.Themoreweknow,themoreconfidencewecanhaveinourstrategies.Thisappliesineverybusiness,largeorsmall,whereveritislocated.

OurKnowledgeserviceboastsaccesstoawealthofmarketdata.Wehavebuiltthisvaluableresource

thankstothestrengthoftherelationshipsweenjoywithorganisationsacrossthemarket,andatasteofthesortofinformationwecansupplycanbefoundonthefollowingpages.

TakealookatthefullrangeofmarketdataavailablethroughourKnowledgeserviceatwww.cii.co.uk/marketdata

United Kingdom

Top 25 UK insurance brokers by brokerage

For further information go to www.cii.co.uk/marketdata | 1716 | For further information go to www.cii.co.uk/marketdata

Mar

ket d

ata

Mar

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Source:InsuranceTimespartnerswithIMAStoproducetheannualTop50Brokerspublicationinwhichthisdataappears.Formoreinformationvisitwww.insurancetimes.co.uk(1)FiguresforUKbusinessextractedfromUSSECForm10K(2)Annualisedfigurestoreflectmaterialacquisitionsin

currentfinancialyear(3)Annualisedfigurestoreflectmaterialdisposalsin

currentfinancialyear(4)Management-providedinformation

(5)Annualisedforchangedyear-end(6)Excludesnon-generalinsurancebusiness(7)Thisyear’sbrokerageforAonisbasedinAonUKLtd’s

statutoryaccounts,andsoisnotdirectlycomparablewiththemanagement-providedinformationreportedinlastyear’sTop50Brokers

Please note:Percentagechangebasedonactualprior-yearfigures,somaydifferfromlastyear’sTop50whereestimatesweregivenbyindividualcompanies.

2015 2014 Company Based in Market cap ($ million)

1 1 ChinaLifeInsuranceCompany China 95,488.4

2 2 PingAnInsurance China 89,167.4

3 3 AIAGroup HongKong 68,409.6

4 4 Prudentialplc UK 48,265.6

5 5 MetLifeInsuranceCompany USA 47,335.1

Marketcapsat30March2016Source:Timetric

Top five non-life insurance companies internationally by market capitalisation

2015 2014 Company Based in Market cap ($ million)

1 1 BerkshireHathaway USA 352,226.8

2 2 AllianzGroup Germany 73,927.6

3 3 AmericanInternationalGroup USA 61,867.1

4 4 AXA France 56,762.4

5 7 Chubb USA 54,952.9

Marketcapsat30March2016Source:Timetric

World’s largest insurance brokers by 2015 revenuesRanking

Name Based in

Brokerage ($ million)

2015 2014 2013 2015 2014 2013

1 1 1 Marsh&McLennanCosInc USA 12,893 12,951 12,261

2 2 2 AonP.L.C. UK 11,682 12,045 11,815

3 3 4 ArthurJ.Gallagher&Co USA 5,392 4,627 3,180

4 4 3 WillisGroupHoldingsP.L.C. UK 3,829 3,802 3,655

5 5 5 JardineLloydThompsonGroupP.L.C. UK 1,763 1,816 1,530

Source:Timetric

International

Top five life insurance companies internationally by market capitalisationMarket data

2015 2014 Company name Current year Brokerage £000s

Brokerage change

Costs £000s

EBITDA £000s

1 3 JLTGroup(6) Dec-14 £816,178 13.50% £661,913 £154,265

2 2 Marsh Dec-14 £782,600 7.10% £581,048 £201,552

3 1 Aon Dec-14 £692,909 0.60% £588,832 £121,961

4 4 Willis(2) Dec-14 £646,632 6.10% £594,669 £182,367

5 5 ArthurJGallagherInternational(1,2) Dec-14 £618,353 2.50% n/a n/a

6 6 BGLGroup Jun-14 £507,245 13.20% £407,736 £125,812

7 7 Towergate Dec-14 £375,923 -0.30% £524,643 £95,431

8 11 HyperionInsuranceGroup(2) May-15 £357,098 87.90% £270,010 £93,624

9 8 SwintonGroup(4) Dec-14 £285,096 -6.50% £259,381 £62,971

10 9 AAInsuranceServices Jan-15 £252,800 -2.60% £146,400 £109,700

11 10 CopperGaySwett&Crawford(4) Dec-14 £248,825 8% £228,585 £34,501

12 14 HastingsInsuranceServices(4) Dec-14 £204,469 19.20% £138,933 £69,524

13 12 Lockton(4) Apr-15 £200,096 12.80% £201,252 £22,019

14 13 AgeasRetail(4) Dec-14 £164,662 -7.00% £142,019 £27,036

15 15 BluefinInsuranceGroup(4) Dec-14 £117,347 -1.20% £93,996 £23,743

16 17 Miller(4) Apr-15 £113,751 0.80% £67,964 £25,555

17 18 Brightside Dec-13 £88,613 0.00% £76,953 £18,715

18 19 Jelf(2) Sep-14 £75,981 -6.00% £61,779 £14,202

19 20 A-Plan Feb-14 £67,450 9.60% £43,025 £24,425

20 22 EndsleighInsuranceServices Dec-14 £66,413 12.80% £58,099 £14,919

21 21 THBGroup(4) Dec-14 £61,913 1.90% £57,558 £10,170

22 n/a Markerstudy Dec-14 £60,102 266.40% £53,989 £6,113

23 27 BMSGroup(4) Dec-14 £59,793 0.60% £56,426 £9,700

24 24 AdrianFlux(4) Sep-14 £54,006 4.30% n/a n/a

25 23 PriceForbes(4) Dec-13 £53,677 0.00% £44,839 £10,313

www.ipsgroup.co.uk

Specialist Recruitment in the City of London, across the UK and Globally

“Thank you for all the guidance and advice, I will not hestitate to recommend IPS to friends and colleagues”.

“I think your organisation is extremely efficient and would willingly recommend it to anyone”.

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“As you know I found IPS to be by far the most professional, efficient and productive”.

LondonBirmingham

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Offices in Europe, Asia Pacific and the US:Hong KongShanghai

SingaporeChicago

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www.ipsgroup.co.uk www.ipsgroup.chwww.ipsgroupasia.com www.ipssearch.com

IMAS-insight A new market intelligence tool for brokersIMAS Corporate Finance and Insurance Times are working together to make IMAS’ proprietary technology freely available to brokers.

Understand how your competitors are faring with the most up-to-date FCA data, refreshed weekly. Register for email alerts on companies and/or individuals to keep abreast of developments

Identify new entrants to the market and who works there. Track changes in approved persons to get early warning of competitor expansion

Analyse the structure of the market using proprietary industry classifi cations and identify who might be evaluating strategic options

1

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Try IMAS-insight today at www.insurancetimes.co.uk/IMASSharing knowledge to build knowledge

IMAS Corporate Finance is a leading independent M&A adviser with an exclusive focus on the UK fi nancial services sector, serving private companies, private equity fi rms and publicly listed companies.

Our clients value the confi dentiality that we are able to maintain throughout a process given our granular knowledge of the UK market. The investment we have made in IMAS-insight, alongside our deep industry knowledge, enables us to run bespoke and highly targeted processes, resulting in optimal terms for our clients.

Sala

ry d

ata

For further information go to www.cii.co.uk/salarydata | 19

London retail broking house technical staff

Position and salary level banding Number of years’ experience in insurance

1–3 4–6 7–10 11–15 16 +

Technical/Accounthandler £31,000 £37,000 £39,000 £40,000 £43,000

Accounthandler/Junioraccountexecutive £34,000 £38,500 £44,500 N/A N/A

Accountexecutive N/A £42,000 £50,000 £57,000 £64,000

Accountdirector N/A £58,500 £62,000 £72,500 £94,000

ResearchinthissectioncarriedoutbyChristopherDickman.

ThecontinueduncertaintiesintheeconomyhascreatedconsiderablebusinesschallengesformanyUKandglobalmultinationalorganisations,whichputpressureontheinsurancecommunityservingthem.

Restrainthasbeenthethemeofmanybudget/planningmeetingsintheglobalmultinationalsectorandthishasimpactedonthesalariesofferedinsalaryreviews.

Furthermore,thespateofredundancieshasalsoadverselyaffectedaveragesalaryratesacrosstheboard.

London Market graduate and trainees

Level of experience and salary level banding GCSE’s A Level Graduate

£17,500 £21,000 £25,500

ResearchinthissectioncarriedoutbyAlisonTaylorandEmmaLillis.

Salary dataThedataandcommentaryinthissectionhasbeensuppliedbyInsurancePersonnelSelection(partoftheIPSGroup)andispublishedherebyspecialarrangementwithInsurancePersonnelSelection,whoownallrightstoit.

Thetablesgiveactualsalarylevels,notrecommendations,andareprojectionsfor2016basedondatacollectedinearly2015,compiledusingthedetailsofthe60,000+applicantsontheIPSdatabaseandtheexpertiseofspecialistconsultantsineachareaofthemarket.FiguresfortheLondonmarket,executiveandboardappointmentsandsomespecialistroleshavenotbeenincludedduetothecomplexityofthedata.

Actualsalarieswillvarywiththecalibreandcompetenceofemployeesandthesize,profitabilityandspecialisationoftheemployingcompany.

Thefiguresgivenareaverageswhichrepresentthemajorityofstafffulfillingthespecificrole(theindustryaverage).Suchindividualswilltypicallypossessaverageeducationalqualificationsandhavemadeprogresstowardsanindustry/professionalqualification.Theseindividualsareusuallyagoodprospectforfurtherpromotion.Somefigureshavebeenomittedeitherbecausestaffwithexperienceinaparticularrolewouldhaveprogressedbeyondthesalarybandingtothenextpositionorbecausetherolecouldnotbeperformedbyjuniororinexperiencedstaff.

ForfurtherinformationonallareascontactanIPSconsultanton02074818111quoting"CIIKnowledge"asyourreferenceore-mailciienquiries@ipsgroup.co.uk

For further information go to www.cii.co.uk/salarydata | 2120 | For further information go to www.cii.co.uk/salarydata

Sala

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ata

Sala

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ataPolicy/wording staff

Position and salary level banding Number of years’ experience in insurance

1–3 4–6 7–10 11–15 16 +

Wordings(ataBroker) £26,500 £32,500 £38,500 £42,500 £44,000

Wordings(ataLloyd'sSyndicateorInsurer) £33,500 £47,500 £53,500 £61,000 £65,000

WordingsManager N/A N/A £79,500 £87,500 £91,500

ResearchinthissectioncarriedoutbyTimSouthworthandAlisonTaylor.

Thevolumeofwordingstechnicianswith4years’pluswordingsexperiencewholeavetheircurrentemployerisnegligible.Thereisthereforeasignificantdisparitybetweenthesalariesthatneedtobeofferedtoagoodwordingstechniciantojoinacompanyandthosebeingpaidtoindividualswhostaywiththeircurrentemployer.Salariesinnicheareastendtobehigher.

Regional UK broking personal lines staff

Position and salary level banding Number of years’ experience in insurance

0–1 2–3 4–6 7–10 11+

Accounthandler £17,000 £19,000 £20,500 £21,500 N/A

Senioraccounthandler N/A N/A £21,000 £23,000 £25,000

Branchmanager N/A N/A £30,000 £35,000 £36,000

ResearchcarriedoutbyCraigColes.

Wecontinuetoseebrokerswillingtoappointcandidateswitha‘non-insurance’backgroundinordertokeepcostslow.Therehasbeenlittlechangeinthissectorforsometimealthoughmanagerlevelpositionsareshowingbasicsalarygrowthandbiggerbonusincentives.

Regional UK claims staffInsurer/Internal loss adjuster claims handler

Position and salary level banding Number of years’ experience in insurance

0–1 2–3 4–6 7–10 11+

Householdclaimshandler £18,500 £20,500 £22,500 £25,500 £28,500

Commercialpropertyclaimshandler £19,000 £21,500 £24,000 £28,000 £32,500

ADmotorclaimshandler £18,000 £19,500 £24,000 £24,500 £24,500

Motorpersonalinjuryclaimshandler £19,500 £24,000 £29,000 £34,000 £36,000

Liabilityclaimshandler £21,000 £26,000 £30,000 £35,000 £45,000

Claimsteamleader N/A £26,000 £31,000 £35,000 £38,000

Claimsmanager N/A £45,000 £55,000 £65,000 £80,000

ResearchinthissectioncarriedoutbyRobertPlant.

Withtheopeningofnewregionalclaimsunitsandtheexpansionofin-houseclaimsdivisionswithinlossadjusterswehaveseenasmallincreaseinsalariesforindividualswith2to3yearscommercialpropertyexperience.Thedemandforstaffatthislevelhasbeenfargreaterthanthosewith4+yearsasinternalpromotionshaveopenedupopportunitiesfornewrecruits.

Themotorclaimsmarkethasyetagainbeenstaticbutweareslowlyseeingsomeimprovementwiththeopeningofnewregionalteams.Salarylevelshaveremainedsimilartolastyearasindividualsarechoosingtomoveforcareeropportunitiesaheadofsalaryincrements.

Liabilityclaimshandlersarestillverymuchindemandwithcompanieslookingtosourcethebesttalent.Salariesarebeingincreasedforthosewhoaretechnicallystrongandcandidatesarenowbeingseriouslyconsideredwithlegalbackgrounds.

Regional UK commercial underwriting and sales staff

Position and salary level banding Number of years’ experience in insurance

0–1 2–3 4–6 7–10 11+

Assistantunderwriter £17,500 £21,000 £23,500 £26,000 £30,500

Servicingunderwriter £21,500 £25,000 £31,000 £33,000 £35,000

Seniorunderwriter N/A N/A £37,000 £40,500 £47,500

Developmentunderwriter N/A £35,000 £40,000 £48,000 £68,000

Underwritingmanager/Branchmanager N/A N/A N/A £62,250 £77,000

Businessdevelopmentexecutive £30,500 £33,000 £37,000 £39,000 £45,000

Businessdevelopmentmanager £30,500 £33,000 £37,000 £39,000 £45,000

Clientrelationshipmanager N/A N/A £40,000 £48,000 £55,000

Strategicdistributionmanager/Headofbusinessdevelopment N/A N/A £34,000 £36,000 £50,000

ResearchinthissectioncarriedoutbyStaceyRichards.

Salariesremainbroadlystaticforunderwritingandsalesvacanciesregionally.Managementappeartohaveincreasingflexibilityonpackagesofferedtoattracthighprofilecandidates,whereitisfelttheycanmakeadifferencetothebusiness.

Therehasbeenlimitedmovementataseniorleveloverthelast12months.Themajorityofunderwritersmovingcompanieshavebeenwithinthe1–4yearexperiencerange,movingmainlyformorecompetitivesalaries.Wherestaffhaveleft,companieshavetendedtopromotefromwithin,possiblytoimprovestaffretentionandmoraleinamarketwhichisstillsomewhatunsettled.

Facu

lties

Improve your technical knowledge and competence, and support your career development through our specialist faculties.

Oursixsector/disciplinespecificfacultiesprovideyouwithaccesstoawiderangeoftailoredinformationandservicestosupportyouinyourrole.

•ClaimsFaculty

•UnderwritingFaculty

•InsuranceBrokingFaculty

•Life&PensionsFaculty

•Learning&DevelopmentFaculty

•SocietyofMortgageProfessionals

Sector specific information and support

Byjoiningafacultyyoucanbenefitfromawiderangeofcareer-enhancingsupport,including:

•Acomprehensiveprogrammeofhalf-hourCPDvideoseminarsonarangeoftopicalissues.

•Aseriesofresearchreports,examiningissuesasdiverseascommercialunderwritingskillsetsandfraudanddigitalinsurance.

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TheEconomist,TheInsuranceNetwork,theAssociationofBritishInsurersandtheCharteredInstituteofLossAdjusters.

•MonthlyXpressemailnewslettersprovidingaccesstoanalysisandguidanceonfaculty-relevanttechnical,regulatory,politicalandlegaldevelopments.

•Faculty-specific,memberonlyonlinediscussiongroupshostedonLinkedIn.

•Across-facultygeneralinsurance-focused‘NewGenerationprogramme’providingupto40memberswithaccesstoaspeciallydesignedannualtalentdevelopmentprogrammeincludingtheopportunitytoworkonafaculty-specificprojectoftheirownchoosing.

Formoreinformationaboutourfaculties,visitwww.cii.co.uk/faculties

22 | For further information go to www.cii.co.uk/faculties

Facultiescii.co.uk/faculties

Not yet a faculty member?Membershipofafacultyisfree.Ifyou’renotalreadyafacultymemberyoucanjoinatanytimeonlineat www.cii.co.uk/joinafaculty

TojoinadditionalfacultiespleasecontactCustomerServiceon+44(0)2089898464.

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Get dedicated career support through one of our 58 local institutes in the UK, Channel Islands and Isle of Man.

WhenjoiningtheCIIyoualsobecomeamemberofalocalinstitute.Thesearelocalhubsrunbydedicatedgroupsofsectorprofessionals,providingyouwithaprogrammeofservices,typicallyincluding:

•Technical,marketandregulatoryCPDevents

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DetailsofallUKlocalinstitutescanbefoundatwww.cii.co.uk/local

Are you in? Help shape your institute

Localinstitutecouncilsaremadeupofprofessionalsfromacrosstheinsuranceandfinancialplanningprofessionswhovolunteertheirtimeandsupporttoprovideservicestomemberslivingorworkinglocally.

Ifyouareinterestedinconnectingwithotherlike-mindedprofessionalsinordertohelpshapeyourlocalinstituteandmakeadifferencethensimplycontactyourlocalinstitutepresidentforaninformalchat.Contactdetailscanbefoundatwww.cii.co.uk/local

Please note:NewcouncilmembersarenominatedforelectionatAnnualGeneralMeetingswhichtakeplaceinMarch/Aprileachyear.

International support

Morethan13percentofmembersarebasedoutsidetheUKinover150countries.

Toensurewesupportourmembersinallterritories,weareinvestingheavilyinouronlineoffering.AllCIIreportsandpapersareavailableonlinethroughoureverexpandingKnowledgeserviceoffering(seepage14).

Wearealsodeliveringanincreasingnumberofwebinarsand,whereverpossible,wearerecordingandbroadcastingevents.Detailscanbefoundinthevariousservicesdescribedinthisbookletandonline.

NewaudioCPDpresentationswillbemadeavailabletoourinternationalmembersacross2017.

For further information go to www.cii.co.uk/local | 2524 | For further information go to www.cii.co.uk/local

Local and globalcii.co.uk/local

I

Audio CPD presentationsAswellastheface-to-faceCPDeventsonofferacrossthecountry,alllocalinstitutesnowprovideUKmemberswithaccesstoavariedprogrammeofonlineCPDthroughouttheyear.

Coveringtopicaltechnical,regulatory,generalbusinessandsoftskillssubjects,thisonlineinitiativeoffersnarratedpresentationstypicallylastingbetween20and30minutes.

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YoucancheckandupdateyourcontactdetailsandpreferencesthroughMyCIIat www.cii.co.uk/mycii orbycallingCustomerServiceon+44(0)2089898464.

The

Jour

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The

Jour

nal

Keep up-to-date with regulatory developments and market activity with our award-winning member publication, The Journal.

TheJournal’sin-depthreportingandforthrightopinionskeepyouup-to-datewithtrendsinpersonalandcommerciallines,andlocatestheinsurancesectorwithinthelegislative,regulatoryandconsumercontext.Interviewswithprominentfiguressitalongsidepenetratinganalysistogivereadersasolidfoundationofknowledgeandinsighttouseintheirprofessionallives.

Everyissuecarriesadiversityofarticles,underpinnedwithnewsupdatesfromthelocalinstituteandinternationalmembershipnetworks,makingitarichly-rewardingread.

TakealookatthelatestandpastissuesofTheJournalonlineathttp://thejournal.cii.co.uk

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For further information go to http://thejournal.cii.co.uk | 2726 | For further information go to http://thejournal.cii.co.uk

The Journalhttp://thejournal.cii.co.uk

cii.co.uk/journal

October-November 2016

Identified insurance fraud fell in 2015 –

how was it achieved?

New IIL president

Russell Higginbotham aims to grasp the

digital opportunity

the

How the aviation sector is continuing

to navigate cloudy skies Terrorism - are ‘lone wolf’

attacks affecting international travel?

October-November 2016

the JOURNAL

BRACED FOR TURBULENCECover__Cll The Journal 1

02/11/2016 10:16

For further information go to www.cii.co.uk/qualifications | 29

CII insurance qualificationscii.co.uk/qualifications

Completing a qualification is a mark of achievement – whether you need to do so for your job, to expand your understanding, or to enhance your career prospects.

Whatever sector or role you are in, CII qualifications will help develop your career.

The qualifications framework

Thishasbeendesignedtoprovideaclearpathforthoselookingtodeveloptheircareerintoday’sinsurancemarket.Theframeworkbelowshowsthemainstudyroutesonoffer.

CII i

nsur

ance

qua

lifica

tions

CII i

nsur

ance

qua

lifica

tionsCIIqualificationsaremodular,allowingyouto

designyourownpathwaytocompletion,choosingsubjectsthatareofinteresttoyouorthatfitwithyourcurrentroleorcareeraspirations.

Thefundamentalsofinsurancearecoveredbythecompulsoryunitswithineachqualification.Then,subjecttocompletionrequirements,youcancompletebymixingandmatchingunitsfromacrossalllevels.Optionsareavailableforallthecoreinsurancedisciplinesandproductclasses,aswellasmanyspecialistareas.

TheCIIhasarangeofqualifications,atintroductorylevel,tocaterfortheparticularneedsofinternationalmembers.

ForthefulllistofCIIqualificationsandstudymodules,visitwww.cii.co.uk/qualifications

The learning process

TheCIIrecognisesthatlearningstylesandpreferencesvaryfrommembertomemberandthatthisinfluencesthetypeoflearningtheyprefer.

ToaccommodatetheserequirementstheCIIoffersadiverseandcomprehensivesuiteoflearningandrevisiontoolstocaterforalllearningstyles.Theserangefromthetraditionalpaper-basedstudytextsandface-to-facetrainingcoursesthroughtoebooksandonlinelearningprogrammes.

The mark of professionalism

Whenyoucompleteaqualificationyoucantypicallyusedesignatorylettersandtitlesafteryournameasevidenceofyourmembership,youreducationalachievementandyourcommitmenttoprofessionalism.

ThehighestawardisCharteredstatus,whichisavailabletothoseholdingtheAdvancedDiplomainInsuranceorFellowship.

Sectoranddisciplinespecificvariationsareavailabletomemberscompletingqualificationsusingspecificunitsandjoiningaspecifiedfaculty.Seepage30forfulldetailsofCIIdesignationsandtitles.

Corporate Chartered status

CorporateCharteredstatusisavailableforqualifyinginsurancecompaniesandinsurancebrokingfirms.Itrecognisesacommitmenttoexcellenceandgoodcustomerservicethroughoutanentireorganisation.

Seewww.cii.co.uk/charteredfordetails.

Qualification and learning discountsAsamemberyoucanaccesssavingsonarangeoflearninganddevelopmentservices,including:

CII qualifications

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Saveupto20percentonanunrivalledtrainingcourseprogramme,fromexamrevisiontoinductionlearningthroughtotechnicalandexecutivedevelopment.

CII learning systems

Enjoya10percentdiscountonthestandardpublishedpriceofLearn,ouronlineexamrevisioncoursesdesignedtodevelopandmaintaintechnicalmarketknowledge.

CII and CII-supported partnerships

Gainanythingfromfreeaccessthroughtodiscountsonevents,conferences,exhibitions,webinarsandpublications.

For more information on the savings you can make, visit www.cii.co.uk/discounts

28 | For further information go to www.cii.co.uk/qualifications

Qualifications framework enhancements

TheCIIhasintroducedarangeofenhancementsthatwilltakeeffectbetween2014and2018.Ifyou’restudyingtowardsaninsurancequalificationwerecommendyoufamiliariseyourselfwiththechanges.

Visitwww.cii.co.uk/insurance-developmentsformoreinformation.

Note:CIImembershipandContinuingProfessionalDevelopmentrequirementsapplytotheuseofdesignations.

Diploma in InsuranceThisqualificationrecognises‘technical’developmentachievedbythose

withagrowingunderstandingofthesector.

Dip CII

Certificate in InsuranceThisisthe‘core’levelqualification,suitableforthoseenteringtheprofessionandseeking

togainessentialbasicknowledgeofthemarket,keydisciplinesandproducts.

Cert CII

Award for the Foundation Insurance TestAnintroductory-levelqualification,developingfundamentalknowledgeonkeytopics.

Advanced Diploma in InsuranceThisisthe‘professional’qualificationawardedto

experiencedandexpertmarketpractitioners.

ACII

FellowshipThehighestqualificationonofferfromtheCII.

Thisrequiresthecompletionofapersonalised,structuredadvanced

professionaldevelopmentprogramme.

FCII

Annual fee

Levels of membership cii.co.uk/designations

Leve

ls o

f mem

bers

hip

Leve

ls o

f mem

bers

hip

Membership is open to anyone working in or connected with insurance or financial planning or, in the case of school and university students, those with aspirations of doing so.

IfyoudonotyetholdaCIIqualification,youwilljoinasanordinarymemberorasaDiscovermemberifyouarestillatschooloruniversity.

AsyouprogressthroughtheCIIqualificationframework(seepage28),yourmembershipcategorychangestoreflectthelevelofqualificationyouhold,withmosthavingdesignatorylettersand/ortitlesthatcanbeusedinyourbusinessdealings(seetablebelow).

CIIdesignationsaremorethanjustlettersafteryourname,theycomewithcommitmentsto:

•ContinuingProfessionalDevelopment(CPD);and

•adherencetotheCIICodeofEthics.

Consequently,thesedemonstratetoemployers,peersandclientsacommitmenttoself-improvementandadherencetoclearstandardsofpracticeandbehaviour.

Chartered status

AtthepinnacleisCharteredstatus,availabletomembersachievingthehighestlevelsofacademicattainment(holdersoftheCIIAdvancedDiplomaorFellowship)andwhoexhibitthehigheststandardsofprofessionalbehaviour.

TherearefourCharteredinsurancetitlesrecognisingparticularspecialisms:

•CharteredInsurer

•CharteredInsuranceBroker

•CharteredInsurancePractitioner

•CharteredInsuranceRiskManager

Foreligibilitycriteriaandformoreinformation,seewww.cii.co.uk/chartered

Membership fees

Asyoumovethroughthequalificationframeworkyourfeeswillchangetoreflectthelevelofmembershipyouhold.

Thetablebelowshowsthecurrentmembershipfees,whichareapplicablefrom01January2017to31December2017.Onprogressiontothenextlevelofmembershipyourfeeswillbeadjustedatpointofrenewal.

Member level

UK Non UK – Standard

Non-UK – Low or lower middle income

Ordinary £74 £54 £38

Award £79 £59 £43

CertCII £102 £82 £49

DipCII £160 £97 £61

ACII £170 £99 £71

FCII £191 £119 £95

CharteredStatus

£214 £148 £106

Foralistingof‘lowincome’or‘lowermiddleincome’countriesgotowww.cii.co.uk/internationalfees

Please note: MembersjoiningtheInsuranceInstituteofLondonpayanextra£3peryear.Fornewandreinstating

membersaone-offadmissionfeeof£37isalsopayable.

UK tax relief

AsaUKHMRC-approvedprofessionalbody,yourmembershipfeequalifiesforataxdeduction.Youcanincludeitonyourannualtaxreturnasanallowableexpense.

E.g.ifyouareahigherratetaxpayer,your£170ACIItitlefeewillreduceyourtaxbillby40percentor£68sothenetcosttoyouwouldbeonly£102.

Alternatively,youremployercanclaimthisasanallowableexpenseiftheypayyourmembershipfee.

Direct Debit

IfyouhaveaUKbankaccountyoucanpayyourmembershipbyDirectDebit,enablingyoutospreadthecostovertheperiodofyourmembership.Byspreadingthecostsyoucanpayfromaslittleas£6.24amonth.

DetailsaboutswitchingtoDirectDebitwillbesentatrenewal.

Alternatively,visitwww.cii.co.uk/memberpricingformoreinformation.

Member search facility

Anonlinedirectoryofmembersisaccessibletothegeneralpublicandbyothermembers,enablinguserstoconfirmanindividual’smembershipandqualificationstatus.

OurRoyalCharterlistsourprincipalpurposeasbeingtoimprovestandardswithininsuranceandfinancialplanningpracticeinorderto‘secureandjustifytheconfidenceofthepublicandemployers’.Implicitwithinthisistransparencyregardingthemembershipandqualificationstatusofindividualmembers.

Toaccessthemembersearchfacility,visitwww.cii.co.uk/membersearch

Support schemes

Oursupportschemesallowforcontinuedmembershipatreducedfeesfollowingachangetoyourcircumstances.Thisincludesretirement,redundancy,maternity/sharedparentalleaveandill-health.

Findoutmoreatwww.cii.co.uk/supportschemes

Membership resignation

Membershipconveystherighttouseadesignation/titleuponqualificationcompletion.Whenaqualifiedmemberresigns,theyarerequiredundertheobligationsofourRoyalChartertoreturntheircertificateofmembership.

Membership level

Designation Eligibility criteria

Fellow FCII HoldingFellowship,theCII’shighestqualification

AdvancedDiploma

ACII HoldingtheCII’sAdvancedDiplomainInsuranceoritspredecessortheAssociateship

Diploma DipCII HoldingtheCIIDiplomainInsurance

Certificate CertCII HoldingtheCIICertificateinInsurance

Award CII(Award) HoldingtheCIIAwardlevelqualificationineitherinsuranceorfinancialplanning

Ordinary N/A ForthosememberswhoarecurrentlystudyingtowardsaCIIqualificationorwhoarenotstudyingbutwishtobenefitfromCIImembership

Please note:Sectoranddisciplinespecificvariationsonmanyoftheabovedesignationsareavailabletomemberscompletingqualificationsusingspecificunitsandjoiningaspecifiedfaculty.

For further information go to www.cii.co.uk/designations | 3130 | For further information go to www.cii.co.uk/designations

£40.48m operating income by source (2014: £38.99m)

2014%

2015%

Membershipservicesandsubscriptions

41 41

Qualificationsandlearning 29 29

Educationalactivities 29 29

Otheractivities 1 1

Consolidated balance sheet

2014£000

2015£000

Fixedassets 17,127 20,983

Currentassets 26,955 30,350

Currentliabilities (13,338) (14,639)

Netassets 30,744 36,694

Accumulated funds2014£000

2015£000

General 22,577 29,857

Charitable 8,167 6,837

Total 30,744 36,694

MemberswhorequirefullfinancialstatementsmaycontacttheLegalandSecretariatDepartment.

29%

32 | For further information go to www.cii.co.uk/annualreport

Summary financial statements and accountscii.co.uk/annualreport

The summary financial information presented below is extracted from the Institute’s full audited financial statements for the year ending 31 December 2015.

Consolidated income and expenditure account

2014£’000

2015£’000

Operatingincome 38,988 40,476

Operatingexpenditure (36,302) (38,720)

Operatingsurplus 2,686 1,756

Non-operatingincomeandcosts (11) 50

Netsurplus 2,675 1,806

£38.72m operating expenditure by activity (2014: £36.3m)

2014%

2015%

Membershipservicesandsupport

33 35

Qualificationandlearning 42 43

Supportservices 25 22

Sum

mar

y st

atem

ents

and

acc

ount

s

22%

35%

43%

1%

41%29%

Werecognisethatyourpersonalcircumstancesmaychange;meaningthatyouarenotfullyinvolvedwiththeinsuranceorfinancialplanningmarket,butwishtoretainyourmembership.

Oursupportschemesallowyoutomaintainyourmembershipatsignificantlyreducedfeesduringtimesofspecialcircumstances,suchasunemploymentorill-health,andfollowingretirementfromtheprofession.TheseschemesensureyouretainaccesstoallthebenefitsofCIImembership,includingcontinueduseofyourdesignation,whereapplicable.

•Retired members’ and continued membership schemes –tokeepup-to-datewithdevelopmentsintheprofessionwhenyouretireorleavetheprofession.

•Membership support scheme–providingsupportifyouaretakingabreakfromemploymentincludingredundancyandunemployment,maternity/sharedparentalleaveandill-health.

Find out more at www.cii.co.uk/supportschemes

Circumstances changed?Support when you need it

Ref:CMB/001(03/17)COH_J011392

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