IIL president Derek Thornton said the CII’s new London market faculty will be dedicated to meeting the highly specialised knowledge requirements of the market.
Announcing the faculty’s launch at Mansion House, Thornton said: “It is our spread of international business and the specialist classes we broke and underwrite that make the London market’s training and competence requirements unique.
“As such, it requires a unique solution: a new faculty of its own.
He said the faculty would attract potential recruits to the London market, provide 1,000 free places for students at a new Insurance Centre of Learning in the CII’s Fenchurch Street and Aldermanbury training centres for face-to-face tuition.
The faculty will also define ‘fit for purpose’ and competence requirements under FSA regulation for different job roles and send tutors into the workplace for any company with 20 or more students entered into the same CII module for free, said Thornton.
Thornton, who will chair the Faculty, said it had strong support from the London Market Broker’s Committee, Lloyd’s, the International Underwriting Association, and the Lloyd’s Market Association.
