Lloyd's has outsourced the Lloyd's Training Centre to the CII on a five year contract.
Worth an estimated £5m, the contract will see the CII providing enhanced training opportunities for underwriters, brokers and corporation staff at Lloyd's. The contract begins on 2 August.
The CII will take on 180 courses a year for 1,500 delegates. This includes the Lloyd's Introductory Test (LIT)which is compulsory to Lloyd's franchisee staff.
Other services include:
·professional insurance qualifications relevant to Lloyd's; and
·guidance on market developments such as FSA and EU legislation, annual accounting, International Accounting Standards Board requirements, and competence standards.
The CII will also work with the market to meet any new training needs.
Steven Haasz, head of change management and human resources at Lloyd's, said: “We want all those involved in the Lloyd's market to have access to the best training in the insurance industry, whether it's a basic understanding of how the market works, or studying for a new qualification.
“I am really pleased that we will be working in partnership with CII. We will all benefit from the wealth of experience such a major training and development organisation will bring. We will work with the CII to ensure that all training offered is core to achieving Lloyd's vision of attracting, retaining and developing the best people throughout the Franchise.”
CII director general Dr Sandy Scott said: “I am delighted that Lloyd's has selected us to work on this exciting project. It recognises the CII's unrivalled expertise in the provision of training, education, competence assessment and qualifications, together with our award-winning customer service operation.
“It also reaffirms the CII's commitment to the London Market which has seen the launch of a London Market Faculty earlier this year, and the creation of an insurance ‘university' with the Cass Business School providing executive development, an insurance tailored MBA, and research.”
