Press Release

LEARNING PATHWAY RECOGNISED BY NEW DESIGNATION

20 July, 2006 

Following the launch of the new Lloyd’s and London Market Introductory Test, a new membership designation is being launched by the CII’s London Market Faculty to recognise the establishment of a market specific introductory learning pathway.

The designation – Cert CII (London Market) - will be available to Faculty members who pass the Lloyd’s and London Market Introductory Test, the Insurance, legal and regulatory unit from the CII’s Certificate in Insurance and a pass in one further CII unit at Certificate level or above.

Derek Thornton, London Market Faculty chairman says, “London is a unique and vitally important market and it is essential that we introduce clear development pathways for those who work within it. This new designation is crucial as it recognises the first learning pathway.

“Now, new entrants will be able to demonstrate their commitment to professional standards through the recognition of their attainment of London Market relevant examinations. As well as supporting the movement to raise standards this is also necessary to demonstrate the career opportunities to school leavers and graduates.”

Membership of the London Market Faculty and the CII is a pre-requisite to the award of the designation and demonstrates that the individual is committed to their personal ongoing professional development, as well as raising standards in the industry.

A key component of the designation is the newly introduced Lloyd’s and London Market Introductory Test (LLMIT), which provides an understanding of insurance practice across the whole of the London subscription market. People who hold the Lloyd’s Introductory Test (LIT) will also be eligible to apply for credits towards this qualification.

“It is entirely proper that LLMIT is the mainstay of the designation” comments London Market Faculty manager Fiona Andrews, “as it is designed to help drive up standards of knowledge, performance and customer care throughout the London market and deliver a grounding in London’s working practices and processes.” 

A centre of excellence and best practice for the London Market, the Faculty is also helping the market face up to the challenge of contract certainty, providing seminars, briefings and, with the CII, the Certificate in Contract Wording qualification.