Human resources specialist D3 Group has published a report that aims to help companies in the insurance industry respond to and interpret the new regulatory guidelines for training and development.

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Human resources specialist D3 Group has published a report that aims to help companies in the insurance industry respond to and interpret the new regulatory guidelines for training and development.

Called "Meeting the needs of the insurance regulator and your business", the paper states two key drivers for companies today. These are achieving compliance and aligning training to business objectives.

D3 says the Financial Services Authority's (FSA) key objectives for industry training are:

  • to set training and development competency policy, including the minimum standards required for regulated firms and examination standards

  • to implement training by providing a centre of expertise, giving information and assistance to regulated firms and staff on details of the training and competence requirements

  • to offer training and distance learning to help regulated firms achieve compliance.

    D3's research has pinpointed the key actions all regulated companies will need to take to reach compliance. These include undertaking an internal stock take against FSA regulations and implementing guidelines to assist the "approved persons" responsible for training.

    D3 Trainingbridge manager Peter Wilford said: "Much has been written about the effect of a tightening of market regulations, and the end to self-regulation for brokers. But we found little practical advice and interpretation available for managers on the main training issues, such as how to address them and the consequences of failure to comply. The purpose of our paper was to address both these points by providing an insight into what is behind the regulations."

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