Chartered status: where does it come from?
The idea of a company or institution being chartered holds a lot of clout, deriving as it does from the concept of a Royal Charter.
And with a Scottish root to parts of it uses it is easy to see the word pleasing both the CII’s Sandy Scott as well as Axa’s Alasdair Stewart, more of which later.
A Royal Charter is a means of incorporating a body, and was previously the only means of doing so, and the Chartered Insurance Institute was granted its Charter by King George V, in 1912.
Such Charters are granted by the sovereign on the advice of the Privy Council, and according to the Council: “Charters are granted rarely these days
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