CII outlines new London Market qualification

According to the institute, it has been developed specifically for individuals working in all areas of the London Market as well as within the core disciplines of broking, underwriting and claims.

The new award comprises of two units - LM1 and LM2 - and is recognised by both the Financial Services Skills Council and OfQual.

Jamie Heath, chief operating officer at the CII, said: "We have a long history of supporting academic excellence in the London market and are able to call upon the knowledge and expertise of over 16,000 Insurance Institute of London members.

"Uniquely this has allowed us to consult widely with a range of market practitioners and to take a collaborative approach to the development of the new award. By involving existing practitioners in the creation of our qualifications candidates can be assured that the new award is relevant to their career development and acknowledges the challenge of balancing study and work."

The cost of entering both units is £269 and details of the courses have now been revealed:

• LM1 provides a grounding in the operation of the London insurance market for anyone starting out in the market. It is also a standalone learning programme for those employed in support functions such as HR or finance, or as the first stage of a more in-depth learning pathway for those employed in a more technical role.

• LM2 builds on the learning provided by LM1, covering additional subject areas and providing candidates with a broader understanding of insurance processes and practices across the London market.

Candidates completing both units will attract 25 credits, meaning they will only need to complete one further certificate unit in order to attain the Certificate in Insurance and allow them to use the designation ‘Cert CII (London Market)' after their name.