The insurance industry will spend £16m a year training as many as one million people to meet the training and competency standards laid down by the General Insurance Standards Council (GISC).

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The insurance industry will spend £16m a year training as many as one million people to meet the training and competency standards laid down by the General Insurance Standards Council (GISC).

According to CII training and development forum deputy chairman, Robin Wood, the GISC will be hard on those who flout its training rules.

He also said that many firms would face huge costs of retraining if they got their initial work wrong.

The GISC rules on competence and training require its members to ensure that their employees are appropriately trained, and GISC monitors are responsible for ensuring that members satisfy this requirement.

The GISC also allows members to apply for the accreditation of in-house training schemes and programmes by external assessment.

Wood insisted that everyone in a company should be actively trained in the GISC Code, and that the insurance industry would need to look at the wordings of prospectuses, proposals and policies to make sure that they complied with the code. Training staff to use existing wordings that proved out of line with the code would be money wasted, as the staff would have to be trained again.