The U.K.’s Chartered Insurance Institute (CII) announced that it will run two seminars in conjunction with broker Grant Thornton on the topic of Conflicts of Interest.
The CII recently made its guidance note on Conflicts of Interest available to the whole market in view of the FSA’s recent letter to chief executives on the subject. (See IJ Website Nov. 29) The letter set out the FSA’s findings to date on the current practice of insurance intermediaries on the identification and management of Conflicts of Interest.
The CII said the seminars are designed to provide practical support for intermediaries. They will be held in Birmingham and London on January 6 and 9 respectively. “Each will include a review of senior management responsibility, strategies to mitigate conflicts and embedding conflicts and TCF as a culture,” the bulletin explained.
Jessica Yeoh, Faculty of Insurance Broking manager added: “The FSA has expressed its concern over the broking community’s ability to comply with its requirements on Conflicts of Interest and has given firms a deadline of January 20 to respond. The CII and the Faculty of Insurance Broking recognize this and have put in place a series of resources to help members and individuals working in firms to meet this and other regulatory issues.”
The CII has also issued guidance notes on TCF, online case studies covering the CII Code of Ethics and Conduct, established modules on TCF and Conflicts on broker ASSESS and is running face-to-face training courses.
Attendance at the seminar costs £75 for CII members (£125 non-members), details on the CII Websiteat: www.cii.co.uk/broking or telephone 020 7417 3593.
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