cii annual report - chartered insurance institute institutes case study: east anglia, ......

HOW WE SEE ITCII ANNUAL REPORTSummary financial statement for the year ended 31 December 2007

TODAY, EVERYEVENT ISREPORTED,ANDEVERY REPORTDISTRIBUTED,ATLIGHT SPEED.

WITHOUT THECONSTANT OFPROFESSIONALSTANDARDS,SOCIETY PAYSTWICE FOREVERY ACCIDENTOR EMERGENCY.

6 ANNUAL REPORT 2007

A MESSAGE FROM THE PRESIDENTA MESSAGE FROM THE CEOSTRATEGYPRINCIPAL ACTIVITIESMembershipFinancial ServicesGeneral InsuranceLocal Institutes case study: East Anglia, Scotland & Northern IrelandGI Evolution projectQualifications and the QCAFinancial Services Skills CouncilFaculties & SocietiesPersonal Finance SocietyInternational

PUBLIC POLICY ENVIRONMENTThoresen Review and generic financial adviceFSA’s Retail Distribution ReviewSkillsTalent Initiative

CORPORATE SOCIAL RESPONSIBILITY GOVERNANCEBusiness EnvironmentFinancialsCommittees & Boards

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current practices and structures against those of other professions.

This produced an honest appraisal of where we are and where

there are still gaps which need to be addressed. It is right that

the profession should face up honestly to both its strengths and

its weaknesses.

The CII has been offering leadership and ideas on how

professionalism – both in terms of qualifications and behaviour –

can be developed and promulgated more widely. We published five

position papers, as well as a comprehensive response to the FSA’s

discussion paper on the retail distribution review, setting out an

excellent prospectus for improvement and change.

The CII has also developed its support both to individual members

and to firms, as they embrace the skills challenge, in the fiercely

competitive environment of financial services. More and more

people are coming to realise the hard fact: “Who trains, wins”.

I have also been encouraged during my tours of local institutes

at the determination to raise standards and to lead the industry

to inspire higher levels of public trust and confidence.

The CII name carries resonance around the world and this year has

seen excellent development in taking professionalism and standards

to major markets throughout the world – including India, the Far

East and Middle East as documented in this report. This will be

an excellent platform for sustained development in the years ahead.

It has been an honour for me to serve this year as the first CII President selected from outside the

Institute’s ranks, at such a pivotal time in the Institute’s history. As a former chairman of the CII’s

Professional Standards Board, I was already aware of the Institute's proud history, but even more

acutely aware of its ambition to build for the future. Never has the need for professionalism and

the championing of professional standards been more relevant.

Despite increasing turmoil in financial services markets, 2007 was a good year for the CII, though

like many others we have learned to adapt to changing circumstances in developing plans for the

future. Fortunately I took over the Institute from the safe hands of a predecessor, Ian Templeton,

who had undertaken a sterling job, overseeing the completion of the daunting but necessary task

of overhauling the CII’s governance procedures and structures. He ensured the CII could be run in

a manner befitting a modern professional body.

I have made professionalism my presidential theme. Against the backdrop of the FSA’s Retail

Distribution Review and the long-standing issue of public trust and confidence in financial services,

the CII commissioned an independent review of the framework for professional standards, comparing

WELCOME TO THIS YEAR’SANNUAL REPORT OF THECHARTERED INSURANCEINSTITUTE.

A MESSAGEFROM THE PRESIDENT

It is with pride that I will hand on the torch

at the end of my presidential year. I believe the

CII is making great strides in building the right

framework for professional standards, as a body

that is prepared to take risks to promote

professionalism in the public interest.

Rt Hon the Lord Hunt of Wirral MBE


2007 proved to be a year of substantial progress for the CII

despite the prevailing economic climate. The CII Group

announced its best year for membership growth since 1935.

CII membership grew to 92,000 members, representing a

7.2 per cent increase on 2006. Our financial strength grew

further allowing us to consolidate to our position as an

innovative professional body taking an increasingly active role

in shaping the future of professionalism in the financial

services sector.

The growth in membership has been driven by a number of

successful partnerships, including Zurich; HSBC; Towry Law;

the AXA-owned brokers Stuart Alexander, Smart & Cook;

Layton Blackham; and Towergate.

OUR MESSAGE IS REFORMSARE IMPORTANT BUT MUST BE CONDUCTED WITHIN THEFRAMEWORK OF MAINTAININGHIGH STANDARDS.

Growth has also increased thanks to the rising support for professional body membership

in the financial services sector, as more financial advisers and IFA firms seek to step up

to the challenges and opportunities presented by the FSA's Retail Distribution Review (RDR).

A strong professional body can play an important role,

especially in the squall of disruptive economic times, for

our individual members and firms in shaping and driving

the development of professional standards.

We are playing an active part in the debates, not just over

financial regulation reform like the RDR where we have

championed industry-led solutions, but also in educational

and qualifications reform.

A MESSAGEFROM THE CEO

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As part of this ambition, and to

support our attempt to rebuild

increased public trust and

confidence in our sector, we

commissioned a ground-

breaking independent study

looking at the development of

professional standards in our

sector and comparing them to

other professions. This showed

considerable progress on the road

to professionalism but indicated

there was more we could all do,

including the development of

a new professional standards

framework.

The FSA’s Retail and Distribution

Review provides an ideal

platform to develop our ideas

for enhancing professionalism.

We published five position

papers in the autumn

culminating in a response to

the FSA setting out a package

for professionalism. We believe

this is a good start in our

progress towards developing

the CII as a ‘new wave’

professional body and 2008 will

see a raft of further initiatives

to build on these foundations.

Despite great advances we

will not rest on our laurels. Our

governance structure has now

been modernised and reformed.

We continue to develop our ideas

to improve the standing of the

profession and buttress this

through improving the capability

of the CII Group: growing our

global reach; improving our

proposition and operations

and ensuring we invest in our

own people.

A big focus for the coming year

is the development and

implementation of our plans

for growth in selected global

markets like India, the Middle

East and parts of the Far East,

where financial services growth

requires the blend of our

traditional image but modern

qualifications know-how to help

professionalise these markets.

I would like to pay tribute to our

current president Lord Hunt for

his unstinting support, enthusiasm

and personal commitment to the

task of promoting professional

standards.

The increasing size and breadth

of our membership, our financial

strength and increasing reputation

and growing international reach

all pay testament to the growing

role the CII Group can and will

play in developing professional

standards in the future.

Dr Alexander Scott,

Chief Executive Officer, CII

In an uncertain year, wehave grown membershipfaster than at any timesince 1935.“”


GROWINGGLOBALLYThe CII is now a global presence, with overseas operations

in India, Middle East, and Singapore, to name a few, and

with 67 affiliated institutes and partners around the world.

We know, however, such success must never come at the

expense of our UK work. We therefore continue to

consolidate and expand the role of our local institutes.

We now have members in 150 countries and are working

to expand rapidly, but are also keen to do so as efficiently

as possible. We are also developing our proposition for new

agent sales forces, particularly in Asian and bancassurance

markets.

All of this is to better serve the profession by promoting

our standards and values, and serving the public in providing

the best in what we do both at home and abroad.

RAISING THE STANDING OF THE PROFESSIONCII strives at all times to raise the standards of our profession. We are dedicated to creating

a ‘new wave’ professional body, one that works hard for both industry and the consumer by

demanding the highest level of integrity, dedication and competency from its members – in

other words, by promoting professionalism at all times.

To that end, we are shaping the debate on policy issues that affect our industry. Our campaign

to raise awareness of RDR with our members has been judged by them to be a success, and

we were regularly consulted by Otto Thoresen’s review team in their work in proposing Money

Guidance service, with many of our recommendations emerging in the final report.

We will continue our efforts in our industry-sponsored talent programme in the general

insurance sector, and continue to seek support in the financial services market. We will also

continue our engagement with the Government’s post-Leitch skills agenda to better inform

and lead the debate around the development of professional qualifications.

IMPROVING OURPROPOSITIONWe will continue to set the highest standards in

professional education, moving beyond qualifications

to create competent, well-rounded professionals

through a culture of career-long learning, ethical

behaviour and continued professional development.

We are particularly keen to extend professionalism

to the whole industry, specifically in areas that

are growing and new, such as call centres and

bancassurance. We are also reviewing the total

membership experience for our members and

striving to improve it.



PEOPLEThe CII is an Investor in People and places a strong emphasis on the learning

and development of its employees. Particular focus has been placed on developing

management competencies, project management skills, customer service and

market knowledge.

2007 saw the introduction of the Knowledge First Framework, designed to support

our commitment to customer service. We have an active Social Committee, and

our staff engagement survey showed positive results about our overall working

atmosphere. We are committed to open communication, and one way this is

maintained is through the Information & Consultation Forum (ICF). This is an

important component of the CII’s strategy of employee engagement and information

sharing. It is intended to be a two-way exchange of information between the CII’s

senior management and representatives of staff in the various departments and

locations regarding significant changes, developments and initiatives that affect

the business. Meetings are held at least four times a year.

We aim at all times to attract, retain and develop the best people and provide them

with an environment that allows them to excel.

IMPROVING OPERATIONSWhile we know the importance of maintaining a high external profile, we must

never neglect our own operational improvements.

As a customer-driven organisation, we will continue to build on our change

programme in improving our service to customers, while simplifying and clarifying

our prices in the UK and overseas to keep all our dealings fair and straightforward.

Finally, we must better utilise our Faculties, Local Institute and Regional networks

to drive member benefits, acquisition and retention.

INSTITUTECONSOLIDATIONWe are committed to matching our customers’ expectations of greater efficiency

and effectiveness through consolidation and appropriate strategic alliances in the

UK and abroad. Any collaboration with other institutes allows us to increase our

delivery capability and breadth of content for our members.

Our ongoing work with institutions all over the world, including but not limited

to Australia and New Zealand, India, Singapore and the Middle East, serves as an

excellent stepping-stone to expand our presence in other global markets, such as

China and the ASEAN region. Being strong in international markets and continuing

to grow is the best way to support UK FS plc and achieve the kind of pan-

institutional cooperation to which we aspire.


WE HAVE TOLOOK HARD ATOUR OPERATIONS,OR SOMEONEELSE WILL. IT IS A FACT OF LIFE.

MEMBERSHIP2007 was a very positive year for CII

membership growth and indicators from the

annual membership survey have shown that

members recognise our committed efforts

to maintain high standards and improve the

service and benefits which we provide.

Overall, the 2007 survey indicates that the

key improvement areas have been in our

online knowledge services, the production

of the informative Knowledgepack booklet,

the provision of our technical and regulatory

updates and the general improvement to our

web site content.

Membership is now in excess of 92,000 and

organic growth for 2007 was the largest since

1935. This was achieved by an overall 30 per

cent increase on new member levels compared

to 2006. A major contributor to this growth

was the creation of a number of corporate

partnership arrangements.

The CII is a member-led organisation and is the largestprofessional body in our sector. Through our network offaculties and societies, and through the work of local institutes,

we represent individuals working across the fullrange of insurance and financial services operations.

In a major development aimed at promoting

standards and professionalism within the

industry, the CII began accrediting firms with

chartered status in 2007. By year’s end, we

had accredited 101 firms as Chartered Financial

Planners and 39 Chartered Insurance Brokers.

That so many firms would seek to be awarded

this status speaks of the CII’s influence and

reputation as leaders in the industry.

Supporting the overall growth has been the

improved retention of current members which

shows a 6.5 per cent improvement since

January 2006.

International membership continues to grow

with nearly 15 per cent of the membership

now based outside the UK. Chartered title

holders have also increased with the number

of Chartered Financial Planners growing by

56 per cent since the end of 2006.



FINANCIAL SERVICESOver the past year we have made significant progress in developing

our corporate relationships, reinforcing our strong position with leading

life companies whilst building increasingly strong links with IFA’s and

Bancassurers.

We have been working extensively across the sector to support programmes

of professional development – with a particular focus on Financial Advisers

in the light of the FSA Retail Distribution Review, and our partnerships

with Norwich Union and Scottish Widows have attracted significant interest.

A number of major advisory firms have also committed their staff to

professional body membership of the PFS – such firms include HSBC, Towry Law,

Zurich Intermediary Group and Edward Jones.

In addition, progress has been made with a number of the major retail banks

and we are particularly pleased to welcome HBOS and Abbey as major new

customers to the CII Group.

It is important that our services also benefit staff not directly involved

in financial advice. An example of which, in terms of embracing young

talent and providing career focus, would be the partnership that we have

developed with Norwich Union. The NU Customer Academy is focused on

developing the technical knowledge and soft skills of up to 2,000 customer

support staff through an extensive programme of e-learning, and is now

playing a key role in the career development of this group of front line staff.

GENERAL INSURANCEIn the general insurance market we have worked with an increasing

number of companies to help design and deliver tailored training and

development programmes to address their specific business objectives.

Zurich has enrolled all of their underwriting and claims staff as members

of the CII and we have provided a tailored schedule of activities and

benefits to encourage their staff to take qualifications and to support

those who are studying. We accredited RSA’s market leading ‘Underwriting

Excellence’ programme and provided E Learning content to support

technical development.

We have rolled out E Learning programmes across AXA Insurance to support

technical development through the company’s own academies. We have

also worked with Kwik Fit to accredit some of their in house training.

Towergate is one of the companies that has been awarded Chartered

Insurance Broker status and they have enrolled all their insurance staff

as members of the CII. Towergate have also worked closely with us to

create a tailored professional development programme which includes

the CII’s E Learning services.

Through the Broking Faculty, we have worked with AXA and BIBA and

taken feedback from a number of broking firms to launch the CII ‘Broker

Academy’ – a one stop shop giving all brokers access to high quality

professional development. This now includes a competency framework,

a comprehensive E Learning and assessment service and access to regional

face to face training. This has proved tremendously popular and our

support to promote the professional status of brokers has also been

reinforced by the introduction of the corporate Chartered title for brokers.


THE GENERALINSURANCEEVOLUTIONPROJECTThe CII provides market-led qualifications which

serve all sectors of the insurance industry and

cater for all levels of knowledge and experience.

General insurance has in recent years gone

through a period of unprecedented challenges

and change. Technology and regulation have had

a major impact on the structure of the market

and the way business is conducted. Competition

is intense; individuals are moving freely between

disciplines and gone are the ‘jobs for life’ that

once characterised the sector.

The CII qualifications framework reflects and

embraces the massive changes that have taken

place and the CII has recently completed a

comprehensive consultation programme to

ensure that it continues to meet the needs of the

market. Based on extensive market research,

the General Insurance Evolution project has been

set up to build on the improvements introduced

in 2004. It is a progressive enhancement of the

learning and exam provision designed to give

individuals both the technical knowledge and

application skills to perform effectively and

efficiently in the workplace.

The project will match qualifications to industry

needs, job roles and provide an increased choice

of technical subjects together with an improved

management offering. There will be a sharper

focus on key disciplines – broking, underwriting

and claims – to provide the core knowledge and

skills needed across today’s diverse industry.

The improved units within the framework will

be designed to comply with educational best

practice and designed to meet the externally

validated exam standards set by the Government’s

educational regulator.

The improvements will be phased in over the

next three years so as not to disrupt students’

current learning plans and we believe will

cement the CII’s status as the premier provider

of learning and exam provision both now and

into the future.

LOCALINSTITUTESCASE STUDY:EAST ANGLIA,SCOTLAND &NORTHERNIRELANDThe local institutes predominantly exist to

provide members with events, activities and

guidance at a local level.

East Anglia, Scotland & Northern Ireland differ

slightly from the other UK institute groups in

that they are all currently serviced by an Area

Marketing Manager whose primary objective is

to help local institutes enhance the membership

service and experience for existing members, and

to encourage more new members to join through

local marketing activity.

2007 has seen a number of successes for the Area

Marketing Managers. First, the initial launch of

Local Institute Marketing ToolKits aimed to

provide the institutes with a distinct identity has

helped raise the local profile in both East Anglia ,

Scotland & Northern Ireland – with awareness of

local events and activities far above the national

average, with an approximate 20 per cent

increase. 2008 will see the ToolKit rolled out

to all the institutes across the UK.

Second, relationships with key partner

organisations have been developed with

organisations such as the ACCA and the CIOBS

with joint events being run with BIBA.

Finally, initiatives such as a local welcome

strategy and the development of member

acquisition campaigns have all been welcomed

by the local institutes and are starting to provide

the results we feel are necessary to continue

building on our progress and momentum in

this area.

QUALIFICATIONSAND THEQCA/OFQUALThe CII’s relationship with the Qualifications and Curriculum

Authority (QCA) strengthened yet further during 2007. Not only

were our examination policies and procedures reviewed and

updated to ensure that they continue to meet the requirements

of the regulatory authorities, we worked very closely with the

regulator on testing and trialling its new qualifications framework.

As a result of this work, we have had the following qualifications

accredited into the new credit and unit-based framework known

as the Qualifications and Credit Framework (QCF):

• Diploma in Financial Planning at Level 4

(first year degree equivalent)

• Advanced Diploma in Financial Planning at Level 6

(final year degree equivalent)

This means that our entire suite of financial planning

examinations is now accredited.

We also responded to the major consultations on the new

arrangements for regulation, with the introduction of Ofqual,

and on regulatory arrangements for the QCF.

We have also been actively engaged in supporting work with

other UK and European Qualification Frameworks.

FINANCIALSERVICES SKILLSCOUNCIL (FSSC)The CII also has a growing involvement in the work of the

Financial Services Skills Council. We have worked closely

with the FSSC on a number of matters during 2007, including:

• Appropriate Examinations

• Sector Qualification strategy

• Developments in the Business, Administration and Finance Diploma

• Apprenticeships



Faculties and societies are central to our strategy for engagingwith the market. They deliver targeted added value and careeradvantage to members working within specific disciplines.

Our faculties and societies enable the CII to address the needs of specific sectors. Each provide thought leadership andsupport to their particular community while also contributing to the overall objectives of the Institute.

They provide members with a programme of CPD events,access to technical qualifications, learning materials, supportservices and practical benefits, thereby setting the standard for technical knowledge, customer service and ethical practice.They also work with the regulator to represent members’interests and help to shape the broader environment in which they work.

UNDERWRITINGIn December the faculty, in partnership with Ernst

& Young, released the research report, The Future

of Distribution in SME Commercial General

Insurance: The Impact on Underwriting and the

Underwriter of the 21st Century, to an excellent

reception from industry. The CII’s Underwriting,

Broking and London Market faculties also hosted

a keynote event on 10 July 2007, reflecting on

themes parallel to those beginning to appear in our

research. The one day, maximum capacity event,

titled, ‘Underwriting and distribution in focus’

was a great success. Finally, the new Underwriting

practice exam syllabus has been shaped to include

content specifically addressing some of the major

outcomes of the report, and received additional

industry input which was facilitated by the faculty.

BOARD MEMBERS:Alan Woof (Chairman) Head of Underwriting Development – Zurich Financial Services

Chris Hanks, General Manager Commercial, Allianz Insurance

Terry Hayday, Manager of Professional Standards, Lloyd’s Market Association

Clive Nathan, Chief Executive Officer Underwriting, Towergate Partnership

Donny MacLeod, Reinsurance & Underwriting Manager, NFU Mutual Insurance Group

Mark Hynes, Director of Commercial Underwriting, Norwich Union Insurance

Nick Hankin, Underwriting Technical Director, RSA UK

Former members:

John Seaton

Andy Baldwin

Sid Gibson

Bernard Mageean

Mark Cliff

Brendan McManus

FACULTIES AND SOCIETIES

Alan Woof, Chairman

Head of Underwriting Development –

Zurich Financial Services


BROKINGThe Broking Faculty enjoyed a number of

successes in 2007. The Faculty launched the

Broker Academy in partnership with BIBA and

AXA, to give all brokers access to the highest

standards of training and development support.

The Broker Academy includes a new E-learning

service. AXA’s E-learning service, ‘Campus’,

was merged with the CII’s own product, Broker

Assess. The new service retains the name ‘Broker

Assess’ and has 20,000 users. It is a market leader

in broker training and assessment and gives

brokers access to a wide range of E-Learning

modules to support professional development.

In addition, the Broker Academy includes a

competency framework specifically designed

for brokers and accessible through the website.

The faculty also began designing a programme of

regional face to face training courses for brokers,

again accessible through the Broker Academy.

A September seminar consulted brokers from all

over the industry, seeking their input on content

and expectations. Starting in 2008, face to face

training would be available for as little as £120

a head, with training centres all over England

and Scotland.

Finally, the Broking Faculty was closely involved

with the launch of the corporate Chartered title

for broking firms and around 50 firms have now

been appointed as Chartered Insurance Brokers.

BOARD MEMBERS:Mark Radburn (Chairman), Managing Director, Willis Commercial Network

Alec Finch, Chairman, Alec Finch Group Ltd

Stephen James, Managing Director, Bartholomew & James Ltd

Lynn Richards-Cole, Associate Director, Perkins Slade

Eric Galbraith, Chief Executive, British Insurance Brokers’ Association

David Slade, Chief Executive, Perkins Slade

John Moore, Chief Executive Officer, Thomas Carroll Group PLC

Stephen Lark, Managing Director, Lark Group

Amanda Blanc, Chief Executive Officer UK Broking Division, Towergate Partnership

Matt Donnelly, Managing Director, Griffiths & Armour

Liz Foster, Managing Director, Ingram Hawkins & Nock Limited

Former members:

Paul Meehan

Kevin Sinclair

LONDON MARKET The London Market Faculty is committed to

maintaining its place as a centre of excellence

and best practice for the London insurance

market. The London Market Claims project, in

partnership with the Lloyd’s Market Association,

has made a significant contribution to the

professionalism of this area of the market. The

project delivered a new competency framework,

which has been agreed by the market as being

extremely practical and useful, and the virtual

‘London Market Claims College’ which signposts

all that the CII offers which is relevant to that

sector, via examinations, face to face training

and online learning. These initiatives have been

presented at a number of industry forums to a

positive reception.

BOARD MEMBERS:David Gittings (Chairman), Chief Executive Officer, Lloyd’s Market Association

Adrian Ballardie, Chief Underwriting Officer, Tokio Marine Global Ltd

Paul Maynard, Broking Director, Willis

Julian James, Chief Executive Officer, Lockton International

Sian Fisher, Head of Agency Operations, Oxygen Insurance Managers

Dave Matcham, Chief Executive Officer, International Underwriting Association

Max Taylor, holds a number of non-executive and advisory roles within insurance

Nick Gooding, Senior Cargo Underwriter, XL London Markets Ltd

Former members:

Derek Thornton

Peter Ward

David Gittings, Chairman

Chief Executive Officer, Lloyd’s Market Association

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CLAIMSDuring 2007 the Claims Faculty worked to produce

a significant piece of research titled, The Evolution

of Claims, highlighting the importance of the claims

function and its increasing recognition as a key

business driver, which was extremely well received.

The July 2007 one day event, The Future of Claims

in Focus, was a resounding success. We have also

secured feedback from the market which has helped

structure the new claims practice exam syllabus.

The faculty continues to focus on providing

appropriate exams, assessments and qualifications

for the various roles in the claims environment;

maintaining and enhancing competence by getting

members the best, up-to-date information on

training and support; and at all times raising

standards and levels of professionalism across the

claims community.

BOARD MEMBERS:Gerry Loughney (Chairman) Chief Executive Officer, Cunningham Lindsey

David Williams, Claims Director, AXA Insurance

Graham Cave, Executive Director, Chartered Institute of Loss Adjusters

Jonathan Clark, Director of Claims, Financial Services Compensation Scheme

Stan Noakes, Operations Director, Tadley Services Group

Gary Bass, Claims Consultant, Lloyd’s Market Association

John O’Neill, Chief Operating Officer, Cavell Management Services Ltd

Tony Emms, UK GI Motor Claims Director, Zurich Insurance Company

Jim Pittman, Managing Director, VFM Services Ltd

Angus Tucker, Deputy President, Chartered Insurance of Loss Adjusters

Former members:

Bill Paton

John Farthing

LIFE & PENSIONSMembership levels of the Faculty continued

to increase over the last year to more than 5,100.

The Faculty has been key in supporting our

contribution to the RDR debate with particular

input from the Faculty Board. A joint Faculty/PFS

working group, with members nominated by the

board, was instrumental in informing the CII

Group’s final response to the RDR Discussion Paper.

In addition we have regularly researched members’

views regarding attitudes to the changes proposed

by the RDR.

Continuing on the theme of developing professional

standards within the market, the Faculty also

successfully launched its second Future Leaders’

Forum, which was again sponsored by Accenture

and supported with 20 nominations from the major

providers, distributors and bancassurers. The

Future Leaders’ Forum is an initiative to aid the

retention of talent and the development of

tomorrow's leaders. The programme is designed

with an emphasis on providing new skills and

insights relevant to the modern life and pensions

industry and is supported by a programme of

events and workshops.

BOARD MEMBERS:Peter Hales (Chairman), Non Executive Director, Just Retirement

Paul Evans, Chief Executive Officer, AXA Sun Life

Ben Gunn, Chief Executive, Friends Provident Life & Pensions Limited

Jo Dawson, Chief Executive, Retail Distribution, Insurance & Investment, HBOS

Patrick Gale, Non Executive Director, HBOS Financial Services

Elaine MacLean, Human Resources Director, UK Operations, Legal & General

Carole Jones, Human Resources Director, Norwich Union

Nick Prettejohn, Chief Executive Officer, Prudential UK

Richard Anderson, Wealth Management Account Director, Scottish Widows

Paul Matthews, Managing Director – Distribution, Standard Life

Ken Davy, Chairman, SimplyBiz

Robert Reid, Managing Director, Syndaxi Financial Planning Ltd

John Simmonds, Chief Executive, Thinc Group

Margaret Craig, Director of Life & Savings, ABI

Barry Kayes, Chairman, AIFA Board Working Group

Peter Hales, Chairman

Non Executive Director, Just Retirement

Gerry Loughney, Chairman

Chief Executive Officer, Cunningham Lindsey


SOCIETY OF MORTGAGEPROFESSIONALSThe Society of Mortgage Professionals continues to grow

with increasing membership among the broker population

and greater interest from lenders and other corporate

bodies. The Home Reversion bridge examination has

been well received by holders of a Certificate in Financial

Planning and Lifetime Mortgage Activities, and the

Society will continue to focus upon the needs of all

members providing relevant information, learning

and examinations.

ADVISORY BOARD MEMBERS:Richard Fox, Chief Executive, Society of Mortgage Professionals

Chris Cummings, Director General, Association of Independent Financial Advisors

Nick Baxter, Managing Director, Baxters Business Solutions

Liz Sully, Compliance Director, I Group Servicing Limited

Stephen Smith, Housing Director, Legal & General Assurance Society Limited

Robert Clifford, Chief Executive, Mortgageforce

Jon O'Brian, Manager Intermediary Sales, Newcastle Building Society

John Malone, Managing Director, Premier Mortage Services

John Goodfellow, Chief Executive, Skipton Building Society

Dave Thompson, Sales Director, Trigold

The PFS delivered an enhanced Faculties programme

during 2007, and this included a range of paid and

free to attend events, a dedicated website and regular

technical bulletins. 6,000 members have now joined

these Faculties, a free benefit for all PFS members

qualified at DipPFS level and above.

The content, style and publication frequency of the

PFS in-house magazine ‘Financial Solutions’ was

reviewed to better reflect membership requirements

and the changes received excellent feedback.

The PFS instigated and facilitated a Leaders’ Summit

debate during the 2007 Conference with CEO’s and

key directors from the major Financial Services

Distributors and Providers. A programme of

communications for this group continues through 2008.

The Society has threeseparate Faculties:Personal Financial

Planning, CorporateFinancial Planning and

Retirement & Care

PERSONAL FINANCE SOCIETY (PFS)During 2007, the PFS increased its turnover by 12 per cent over the

previous year, and the number of PFS members increased to over

24,000, almost 7 per cent ahead of 2006. We also delivered a more

substantial and comprehensive continuing professional development

(CPD) programme, increased Chartered members by 42 per cent (which

stands at over 1,200) and launched the Chartered Financial Planners

title for firms, with 101 accredited by year end.

The PFS ran 96 regional meetings during 2007 which gave member

delegates access to local networks comprising financial services

expertise, mentoring, support and guidance. The full-day meeting

programme, free to members, included both business development

and technical sessions.

The PFS Annual Conference and Exhibition ran over two days in

November 2007; essentially a technical and training event with

35 individual training sessions covering the full range of Financial

Planning topics, it attracted a record breaking 1,300 delegates.

500 delegates also attended a black tie gala dinner.

BOARD MEMBERS:Carole Nicholls, (President) Principal, Nicholls Stevens

Robert Reid, (Vice President) Managing Director, Syndaxi Financial Planning Ltd

Peter Williams, (Vice President) Chartered Financial Planner, Aegon UK

Simon Holt, Managing Director, Skipton Financial Services

Michael Fosbery, National Head of Financial Services, Smith & Williamson

Robin O’Grady, Williams de Broë Investment Managers

Paul Lothian, Chartered Financial Planner, Verus Financial Planning Ltd

Tim Eadon, Chief Executive, The Personal Finance Society

Bob Bullivant, CII Deputy Director General

Sandy Scott, CII Chief Executive

Peter Martin, CII Finance Director

David Thomson, CII Policy & Public Affairs Director

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INTERNATIONALINDIAOur work in India remains a top priority, and we

were pleased to see the CII’s new Liaison Office in

Mumbai approved by the IRDA (Insurance

Regulatory and Development Authority) in 2007.

We also continue to work closely with our affiliated

institutes there (the Insurance Institute of India and

the Institute of Insurance and Risk Management) as

well as the regulator and trade bodies as they seek

to raise professional standards in the Indian market.

Much of our focus at present is on developing a

qualification and learning support programme for

the up-skilling of life agents in India.

SE ASIAWe have established a significant strategic alliance

with the Singapore College of Insurance: the CII-SCI

Educational Alliance (Asia-Pacific). This agreement

is targeted at raising overall standards of

professionalism in the insurance industry in the

Asia-Pacific region through qualifications and

training. Similar strategic partnerships are now at

an advanced stage in both Hong Kong and Thailand

with plans to have these up and running by

mid 2008.

MIDDLE EASTThe CII has now added to its existing strategic

relationships, and now has a presence on the

ground throughout the region, from Egypt and

Jordan to Oman and Yemen.

Further developments include the launch of the

Takaful module, in partnership with the BIBF

in Bahrain, and work continues on the translation

of key elements into Arabic. Outside of this, we

continue to work very closely with the leading

regulators, particularly in the area of creating

minimum standards for both the life and

non-life market.


IT’S EASY TO SEE THE CIIAS HAVING AN EYE FORIMPORTANT DETAILS,LESS WELL PUBLICISED ISTHE WORK WE DO TOADVANCE DEBATE ONTHE BIGGER ISSUESFACING THE INDUSTRY.


THORESEN REVIEW ANDGENERIC FINANCIAL ADVICEIn March 2008, the final report of the Government-commissioned

Thoresen Review into providing a generic financial advice service,

or ‘money guidance’ (MG), was published. The Thoresen Review

was established in early 2007 to examine the feasibility of

delivering MG nationally at low or no cost to the consumer.

The CII has been engaged with the review’s work from the

beginning. Building on our considerable relevant experience in the

area of financial advice, and taking the view that a quality service

Political and regulatory issues play amajor role in the oversight of financialservices as does the qualificationsframework within which the CIIoperates. The CII's aspirations forimproving standards of professionalismand raising our profile and impact as aprofessional body mean it is vital thatwe have an influence in the politicaland regulatory environment. We haveinvested in a new Policy and Publicaffairs capability within the CII andhave played a leading part in a numberof major debates over regulatory andother issues in 2007. Four examples ofissues we have been involved inshaping are set out below.

is needed and would help both consumers and society, we were consulted by the Thoresen Review

team during their work. In 2007 the Personal Finance Society continued its work with Citizens

Advice into the feasibility of pro bono financial advice. Our second project, which followed 2005’s

successful work, is expected to run until March 2009. The project currently enlists 75 IFAs – who

are all participating on a strictly voluntary basis. Our research clearly demonstrates that even the

most basic of information made available to consumers will result in them taking action that will

have long-term benefits.

We were observers to the Thoresen ‘prototypes’, where we reviewed the skill and efficiency of advisers,

and we met regularly with Treasury officials and hosted the Review Team here at CII to discuss issues

of governance, training and accreditation. We also regularly engaged other stakeholders to share and

discuss mutual areas of concern.

The final report was well-received, and all indications are that a programme based around Thoresen’s

work will be established in the near future, with trial pathfinders starting in 2008.

Many of our suggestions were featured in the final report, and we plan on being involved throughout

the implementation stages in 2008. We believe that money guidance is an essential part of building

better financial capability in society.

FSA’S RETAIL DISTRIBUTION REVIEW (RDR)In June 2007 the Financial Services Authority (FSA) launched a Discussion Paper into

the market for retail investment products. One central recommendation supported

higher standards of behaviour and competence for financial advisers. The impact

on our membership will be significant, and so it was on this theme we based an

integrated public affairs and membership support campaign.

We designed a dedicated RDR website containing briefings, podcasts and event

information. This proved popular with 13,000 visitors and led to 4,000 downloads

from September 2007 to mid-February 2008. Regular ‘e-flyers’ were sent to inform

members of relevant policy developments and publications. Sixty road shows were

held nationwide for members to learn more, question key industry experts and put

forward their views.

The CII produced a series of five position papers, setting out our

position in an attempt to foster an industry consensus around

building a step-change in professional standards and developing

a new professional body framework including the idea of a single

independent professional standards board. These were sent to key

opinion formers, receiving excellent coverage and industry response.

Our members contributed to our final submission through our CII

working group and two member surveys – which received 800 and

1,300 responses. Key stakeholders were also involved, via regular

dialogue, in the development of our proposals.

The response to our campaign has been overwhelmingly positive,

with awareness running at 82 per cent of CII members. A recent

membership survey showed that two thirds of our members felt

we should run similar campaigns in the future.

The FSA initial feedback statement has taken on board a number

of these suggestions and we are working with them on how they

can be taken forward.

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SKILLSThe issue of skills continued to be an important

topic in 2007 following the groundbreaking 2006

report by Lord Leitch on UK skill levels and

international competitiveness. Our April 2007

skills survey established that 71 per cent of

employers perceive a shortage of technical skills,

and 63 per cent also believe that the demand for

professional qualifications will increase over the

next five years. Perhaps most tellingly, 46 per

cent of CII members believe that new entrants

into the industry were not as well equipped as

entrants only ten years ago.

On the back of this survey we undertook further

detailed research studies into two particular

areas. The Evolution of Claims and The Future of

Distribution in SME General Insurance examined

the problems and shortages faced by the claims

and underwriting sectors, and what action is

needed to address these in the future.

As part of our continuing efforts to engage educational stakeholders in addressing

the skills shortage, we established the CII Accredited Provider process, a quality

benchmark for CII providers in the education sector. The first school to receive

this designation was Glasgow’s Cardonald College in December. The College is now

accredited to offer the CII’s Certificate in Financial Planning course, which is the

benchmark qualification for financial advisers.

As proponents of the need for training, the CII has long been in favour of

apprenticeships as another way of filling the skills gap, and is in full support of

programmes such as Train to Gain, which incorporates the employers’ skills pledge.

The Government’s support of the apprenticeship approach is well documented and

the programme offers firms an excellent value-for-money recruitment and retention

tool, due to the funding available from the Learning and Skills Council. The revamped

apprenticeship scheme covers a whole host of sectors, including financial services,

and offers advantages such as the awarding of a technical qualification (e.g. the CII

Certificate in Insurance and the CII Certificate in Financial Planning).

By linking apprenticeships with a wider training and development

offer, such as Broker Academy, the CII is ensuring that the

training and development needs of the employer (including the

SME market) are being met.

Building on 2007’s work, we began 2008 by hosting a skills event

at which the Skills Minister David Lammy was able to listen to

the challenges we face as an industry and how we are beginning

to tackle them. This initial liaison will provide a basis for future

work as we continue to develop our skills policy.

The Talent Initiative was launched in responseto a commissioned study by the CASS BusinessSchool which showed that 90 per cent of UKgraduates wouldn’t consider a career ininsurance. This was supported by strongfeedback from senior managers and directorsthat it was an industry priority to improve theimage of insurance in the recruitment market.

The overall marketing strategy was to promote careers in insurance as adeliberate choice and to attract top talent into the industry. We recognisedthat what was needed was an ongoing ‘marketing campaign’ for the wholeindustry – rather than just a one-off recruitment campaign.

The CII Group created a wide and far reaching range of marketingtechniques for the Talent Initiative: a unique website, brochure, and othermarketing material including a three-minute original film on DVD forinsurance industry and careers advisors.

The In-Insurance initiative now delivers a consolidated framework andproposition that is supported by a comprehensive selection of activeresources and services available to both graduates and employers.

For the graduate, the Talent Initiative delivers a comprehensive careers information portal www.insurancecareers.cii.co.uk whichfeatures industry information and background. For employers, we have created a central industry information portal that offers targetedgraduate searches and promotion.

The Talent Initiative was awarded the Association of Graduate Recruiters (AGR) prize for Best Integrated Campaign of 2007.



“The Prince’s Trust’s ‘GetInto’ programme is afantastic opportunity foryoung people, helping themchange their lives and gaina vital insight into thehospitality industry. Theskills they learn not onlybenefit them but thehospitality sector in thefuture. We have offered allthe young people on thiscourse a position here atThe Ritz – this is a realtestament to their hardwork and determination.They really have exceededall expectations.”

Stephen Boxall, General Manager, Ritz

PRINCE’S TRUST

Since 2006, the CII has been a corporate Patron

of the Prince’s Trust, the UK’s leading youth

charity dedicated to delivering and developing

programmes and services for young people. The

CII strongly supports the Trust’s activities, and

continues to help members get involved. They

provide mentoring support to disadvantaged

young people, encouraging and assisting them

in achieving their ambitions. In 2007, the Trust

helped over 37,000 of the most disadvantaged

young people in the UK, and made great progress

in further developing the ‘Get Into’ Programme

and research into the cost of exclusion.

The CII is committed to giving back to the community and encouragesits employees and members to getinvolved in making a difference. In this section we summarise ourcorporate social responsibility (CSR)activity in relation to staff and ourown activities.


TREES FOR LIFE

Given the increased focus

on environmental issues and

climate change, we all need

to play a part to help preserve

the environment by cutting

down on unnecessary waste

where we can.

The CII is actively trying to

help by reducing the amount of

paper mailings sent to members

and has been encouraging them

to accept all correspondence

from us via email. Email is

more efficient, it’s faster and

it’s better for the environment.

For every email address we

receive, we donate 10p towards

Trees for Life’s reforestation

programme in the Scottish

Highlands. That means for

every 2,000 email addresses

we receive, an acre of land will

be purchased by Trees for Life

for planting with native trees.

DIVERSITY

The CII provides leadership

and services to a diverse

profession. It seeks to promote

ethical business and professional

practices among persons

engaged or employed in

financial services, and employs

staff from many different

backgrounds.

The CII values and respects this

diversity and strives in all of its

activities to take account of and

reflect the interests of all the

people it serves. Its Equality

and Diversity policy outlines

our commitment to eliminating

unfair discrimination,

promoting equality at all levels

of our organisation, and

improving diversity within

its own staff and the industry

as a whole.

VOLUNTEERING:OUR WORK WITHCITIZENS ADVICE INTOFINANCIAL ADVICE

In 2007 the CII, with fellow

group member the PFS,

continued research into the

feasibility of pro bono financial

advice. Our second project,

which followed 2005’s

successful work, is expected

to run until March 2009.

Thanks in part to funding from

Barclays and Aegon, we have

expanded from England and

Wales into Scotland and are

now covering 30 CAB offices.

The project currently enlists

38 IFAs – all participating on

a strictly voluntary basis.

INSURANCE CHARITIES

We also support the Insurance

Charities, an independent

organisation who give vital

support to past and present

employees of the insurance

industry and their dependent

relatives who are suffering

financial hardship. Under an

agreement with the credit

card company, the Insurance

Charities receive a dividend

on all purchases made using

the CII credit card, and we

also hold a specific annual

fundraising day. The Insurance

Charities also share

accommodation with us at

Aldermanbury, and we support

them with on-site facilities.

Local institutes nominate CII

members to act as volunteers

in assisting and fundraising in

their respective areas.

"The Insurance Charities providescommunity care and support to individualswho have worked within the insuranceindustry for a period of five or more yearsduring their career. Support comes inmany forms, including personal visits froma Charities representative, funding supportwith essential items such as wheelchairsand the provision of financial help with billpayment helping meet the cost of living.Beneficiaries are so pleased (and oftensurprised) with the breadth of supportwhich the Insurance Charities is able tooffer them.”

Caroline Ford, FCII, of BGL Group


BUSINESS ENVIRONMENTThe market situation for our members may be difficult,but there are significant signs for optimism and recovery,and the CII stands poised to continue offering the higheststandards in service and guidance.

In General Insurance, there were signs of hardening ratesbut for all other markets, rates continued to soften with the exception of the large catastrophe market. Insurancebrokers continue to be under pressure, and thepound/dollar exchange rate continues to be problematic.

The CII will continue to work in this challenging businessenvironment. The industry faces many changes andopportunities, including but not limited to:

• The credit crunch and its impact • Reputation and trust• Globalism• Longevity• Climate change

Demand for insurance

qualifications, professional

membership services and

learning opportunities will

continue to grow, as we have

seen in the key markets of

India, Southeast Asia, China

and the Middle East. We see

no reason why our growth in

membership will not continue,

and we will continue to expand

our operations wherever there

is a demand for our products

and services.

As the FSA in the UK continues

its move to pursue a principles-

based regime we see a

significant role for the

profession at the heart of the

industry. To that end, we have

contributed extensively to the

FSA’s review of retail

distribution and applaud the

regulator’s expected demands

for higher levels of

professionalism from within

the industry.

The CII is investing heavily

in its policy and public affairs

function to enhance and extend

its activities as a professional

standards setting body, and

contributing to thinking on

projects such as the RDR, the

Thoresen Review, and the skills

agenda.

We will continue to work with

our members, employers and

bodies such as the Financial

Services Skills Council to

ensure the Institute’s products

and services reflect the needs

of the market and change as

requirements evolve.

We continue to be firmly

committed to our Talent

Initiative, and strive to bring

more high-quality recruits into

the industry. As part of our

ongoing work in skills and

talent, we are engaging in a

programme of communication

and interaction with schools,

colleges and universities to

increase awareness of

insurance as a challenging

and rewarding career.

The Institute’s Governance

protocols have recently been

overhauled and modernised

following extensive

consultation with the

membership. This will

streamline many of our

processes and ensure that we

meet best practice standards.

The Institute has demonstrated

its responsiveness to market

developments with the

introduction of Chartered titles

for firms. This helps our

members to achieve

differentiation from their

competitors and enhance their

standing with customers.


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BOARD, REPRESENTATIVE COUNCILAND COMMITTEE STRUCTURE

Until 19 July 2007, the Council was the governing body of the CII.

Its function was to control and direct the policy of the Institute.

The Management Committee was responsible for the implementation

of policy on behalf of Council. With effect from 19 July both entities

were replaced by the CII Board. Prior to 19 July the CII’s Council

met in January, April and December and the Management Committee

met in March and June.

Numerous committees reported to Council or the Management

Committee throughout the period, the most significant of which were

Audit, Nominations & Remuneration and Professional Standards.

In addition the Executive Committee met on a monthly basis throughout the year.

This Committee also stood down with effect from 19 July.

Following the governance review the revisions to the committee structure mean

that the new Representative Council has a close liaison role with the Board whilst

the Nominations Committee, Remuneration Committee, Professional Standards Board

and Audit Committee report directly to the Board. The Examiners Committee (which

was replaced by the Qualifications, Examinations and Assessments Committee in

2008), Disciplinary Committee and Disciplinary Appeals Committee now report to

the Professional Standards Board.

We see no reasonwhy our growth in membership willnot continue, andwe will continue to expand ouroperations wherever there is a demand for our products andservices.



LORD HUNT

T J MATTHEWS

I J TEMPLETON

S FISHER

C MUNN

P HUBBARD

J WELLS C BRAND

M C ROGERSON

B BJELOBABA E A COYLE

P N MARTINA W SCOTT


REPORT FROM THE BOARDROLE OF THE BOARDThe Board’s role is to provide entrepreneurial strategic leadership of the CII Group within a framework

of prudent and effective controls which enables risk to be assessed and managed. The Board sets the

CII’s strategic aims, ensures that the necessary financial and human resources are in place for the CII

to meet its objectives and reviews management performance. The Board sets the CII’s values and

standards based on the recommendations of the Professional Standards Board and ensures that its

obligations to stakeholders are understood and met.

REPORT FROM THEREPRESENTATIVE COUNCIL(THE “COUNCIL”)

Composition of the BoardPresident and Chairman appointed July 2007 D.J. Hunt Hon FCII

Immediate Past President appointed July 2007 I.J. Templeton FCII Chartered Insurer

Deputy President appointed July 2007 T.J. Matthews

Employer Member appointed November 2007 S. Fisher ACII, Chartered Insurer

Employer Member appointed November 2007 P. Hubbard

Lay Member appointed November 2007 C. Munn

Lay Member appointed November 2007 J. Wells

Elected Member appointed November 2007 C. Brand ACII, Chartered Insurance Practitioner

Elected Member appointed July 2007 B. Bjelobaba FCII, Chartered Insurance Practitioner

Elected Member appointed July 2007 E.A. Coyle ACII, APFS, Chartered Insurer

Elected Member appointed July 2007 M.C. Rogerson

Chief Executive Officer appointed July 2007 A.W. Scott

Finance Director appointed July 2007 P.N. Martin

MeetingsTwo meetings were held during the last year with

the attendance records as follows:

12 September 2007 – 8 out of 8 members

22 November 2007 – 12 out of 13 members

Activities of the BoardAt its inaugural meeting the Board approved

the remaining Board member appointments and

confirmed the further appointments of Robin

Jordan as independent Chairman of the new

Nominations Committee. In accordance with the

Terms of Reference, Peter Hubbard was confirmed

as Chairman of the new Remunerations

Committee. Much of the year, however, was taken

up with consideration of the CII’s strategic

approach to the FSA’s Retail Distribution Review

comprising the Institute’s stance and researched

response along with the production of five

Position Papers. Every indication to date is that

the CII has shown effective industry leadership

and has achieved considerable support and

consensus of views amongst the principal

professional and trade bodies.

ROLE OF COUNCILThe aims of the Council include:

• To be the intellectual engine of the CII

• To ensure that projects and initiatives are

relevant, forward looking and together have

a cohesion to deliver the CII’s vision

• To help the CII to maintain a proper balance

in its programme

• To provide the optimum relationship between

“trusteeship/directorship” in their broadest

senses (provided by the Board) and

representation of the wider interests of the

membership and the general public for whose

benefit the CII exists

• To be the conscience of the CII and the forum

in which the Board is held to account

• To advise the Board on recommendations for

the future direction of the Institute

Composition of the CouncilThe Council is made up of Members elected by

their respective Local Institute constituencies,

plus nationally elected representatives of the

Student, Certificate level, Diploma level,

Advanced Diploma level and Fellowship

communities.

In addition the CII appoint certain ex officio post

holders such as the President (who is also

chairman), the Deputy President, the Immediate

Past President, Vice Presidents, Past Presidents,

The President of the Personal Finance Society,

Faculty and Committee chairs and for the first

time lay representatives (i.e. non Members) whose

role is to bring an independent and objective view

to the proceedings.

Meetings Two meetings were held in the year with the

attendance records as follows:



Activities of the CouncilThe inaugural session of the new Council took

place in September and among other things

it was agreed to set up a task force making

recommendations in connection with a publicly

searchable database of members.

The Local Institute Development Committee was

asked to consider and make recommendations

concerning the triennial review of Local Institute

boundaries.

The Chief Executive reported formally to Council

on issues and developments currently facing the

CII and the Finance Director reported on risk.

Both were on hand to answer questions.

At the November session the database task

reported back with their suggested parameters

and the CII’s web team agreed to scope and cost

out the project.

In addition to the Chief Executive and Finance

Director’s reports, the CII’s Director of Strategy

and Change updated the meeting on current

developments internationally, the Area Marketing

Managers reported on the emergence and

development of Local Institute “ToolKits” and the

Customer Service Director presented on the CII’s

internal project to improve the customer interface

with the Institute.

A section of each meeting in 2007 was devoted

to issues of critical strategic importance for

the Institute.


REPORTS FROM COMMITTEES. AUDIT

Financial AccountsThe Committee reviewed the financial statements

for the year ended 31st December 2007 and the

various reports from the external auditors

Deloitte’s. This process was finalised at the

Committee’s meeting in March 2008. The review

of the accounts for the period ending 31 December

2006 was finalised in March 2007 and cleared for

presentation to the Management Committee and

Council for approval. See Conclusions below.

Internal financial controls and riskmanagement systemsDuring the year management continued to

develop and refine the presentation of the Risk

Report. It was agreed that full consideration of

risk would become a scheduled topic of

consideration for the Board. This has now been

incorporated into the Board’s annual Schedule of

Work as agreed by the Board in September. It was

also agreed with management that there would

be more frequent reports to the Committee on the

progress against the Strategic Business Plan.

An innovation in the period was the establishment

of a CII policy on the appointment of auditors in

relation to non-audit work. This policy was

agreed with the Committee at its March meeting

and is now being implemented.

The Committee also noted and concurred with

the Institute’s improved approach to revenue

forecasting and the re-structuring of the Finance

ROLE OF THE AUDIT COMMITTEEThe role of the Audit Committee is to review the integrity of financial reporting and the audit process and to

ensure that The Chartered Insurance Institute has sound internal financial control systems and systems for the

control of non-financial risks.

Composition of the Audit Committee during the yearBoyle, L, FCII, LL.B, TEP, FSI, Chartered Insurer, Chairman, Isle of Man – Appointed Chairman September 2004

Jarrett, JM, FCII, Cheltenham & Gloucester, Chartered Insurance Practitioner – Appointed November 2004

Harding, A, ACA, FCCA, BSc (Econ), MBA, London – Appointed March 2006

Killick, BE, ACII, B Com, CA (NZ), Chartered Insurance Practitioner, London – Appointed November 2006

Whitaker, RA, FCII, LLB, DMS, Chartered Insurer, London – Appointed 1999 (retired June 2007)

Whitehouse, R, FCII, B.Soc Sc., MCMI, ACIArb, Chartered Insurer, London – Appointed November 2006

Howard, P, FCII, Chartered Insurer – Appointed November 2007

MeetingsThree meetings were held during the last year with the attendance records as follows:

20 March 2007 – 6 out of 6 members

26 June 2007 – 6 out of 6 members


function as discussed in the external auditor’s

management letter for the 2006 audit. It is also

incumbent upon the committee to consider from

time to time whether there is suitable resource

to allow management to mitigate risks. The

Committee confirms that there are no issues

of concern in relation to capacity in this area.

Governance IssuesThe Committee was kept informed of the

Institute’s progress with the corporate governance

changes up to and including the Special General

Meeting on 11 April 2007. There were no issues

of concern arising. Following acceptance of the

new constitutional arrangements by Members,

the Committee will continue to monitor the CII’s

governance and in particular the effectiveness

of the interface between it and the Board.

In line with recognised good governance

standards a protocol for the re-tendering of

the external auditors was agreed with the CII’s

management and a full re-tendering exercise

will take place in 2008.

ConclusionThe Committee believes that the substance of

its discussions is fairly recorded in its minutes

of proceedings. It is pleased to report that, from

the extensive information that has been made

available, it does not consider that there are

any other issues that need to be drawn to the

attention of the Board or Members.

MEMBERS OF COUNCIL 2008-2009

Appointments from the BoardAppointed Ex-officioPresident (Chairman) D.J.F. Hunt, HonFCIIDeputy President T. MatthewsImmediate Past President I.J. Templeton, FCII, Chartered Insurer

Vice PresidentsVice President R.J. Anderson, FCII, FPFS, Chartered Financial PlannerVice President S. Fisher, ACII, Chartered InsurerVice President C.D. Hanks, ACII, Chartered InsurerVice President J.T. James, ACII, Chartered Insurance PractitionerVice President K.J. Wallace, FCII, Chartered Insurer

Chairmen of SocietiesPersonal Finance Society President R. Reid, ACII, APFS, Chartered Financial Planner

Past PresidentsPast President A.C. Homer, FCII, Chartered InsurerPast President R.O. Hudson, FCII, Chartered Insurer

Committee ChairmenRemuneration P. HubbardAudit L. Boyle, FCII, Chartered InsurerDisciplinary J.L. Neilson, FCII, Chartered Insurance PractitionerAppeal P.J. Finch, ACII, Chartered InsurerExaminers P.J. Williams, FCII, FPFS, Chartered Financial Planner

Lay RepresentativesLay Representative 1 M. Saunders

Elected Local Institute RepresentativesScotland A N.D. Toothill, ACII, Chartered Insurance PractitionerScotland B T.L.W. Torrance, FCII, Chartered Insurance PractitionerNorth East A B.W. Thornton, FCII, Chartered Insurance PractitionerNorth East B D.G. Cummings, ACII, Chartered Insurance PractitionerNorth East C E.A. Coyle, ACII, APFS, Chartered InsurerNorth West A K.P. Wood, Cert PFSNorth West B L. Bamber, FCII, Chartered Insurance BrokerNorth West C P.J. Heathcote, ACII, Chartered Insurance BrokerSouthern A C.A. Brand, ACII, Chartered Insurance PractitionerSouthern B T.H.S. Wiseman, ACIISouth East A K.V. Peraux, Cert PFSSouth East B VacantSouth West A P. Regan, ACII, Chartered Insurance PractitionerSouth West B S.M. Riches, ACII, Chartered InsurerSouth Central B. Bjelobaba, FCII, Chartered Insurance PractitionerEastern A VacantEastern B L.M. Harold, DipCIIEast Midlands M.C. RogersonWest Midlands C.A. Hayward, ACII, Chartered Insurance BrokerSouth West/South Wales A.J. Greensweig, ACII, Chartered InsurerNorthern Ireland S. S. Wallace, ACII, Chartered Insurance PractitionerLondon A T.J. Doherty, FCII, Chartered InsurerLondon B D. Brewer, CMG FCII, Chartered Insurance PractitionerLondon C C.E.L. PhilippsAssociated C. Lacey, ACII

Members Elected by National Membership RepresentativesACII C.P. Leahy, ACII, Chartered Insurance PractitionerFCII C. Smith, FCII, Chartered Insurer

MAIN ACTIVITIES OF THE COMMITTEE IN 2007


REPORTS FROM COMMITTEES. NOMINATIONS & REMUNERATION

Composition of the Nomination and Remunerations Committee until July 2007Note – Appointments to the Committee are on an ex officio basis.Independent non executive chairman appointed 2002/3 R.E. Brown FCII Chartered Insurer

President appointed 2005/6 I.J. Templeton FCII Chartered Insurer

Deputy President appointed 2006/7 D.J. Hunt Hon FCII

Immediate Past President appointed 2004/5 P.R. Hales ACII Chartered Insurer

Representative from Manco appointed 2004/5 L. Williamson ACII Chartered Insurance Practitioner

Chief Executive Officer appointed 2000/1 A.W. Scott

ROLE OF THE NOMINATIONS &REMUNERATION COMMITTEEThe role of the Nominations and Remuneration

Committee is to:

• Receive and originate suggestions of possible

candidates to be Officers of the CII and

Chairmen of CII Committees and to make

recommendations

• Oversee from time to time, the selection and

appointment of the Director General of the

Institute and to make recommendations

• Receive and originate suggestions of candidates

for Honorary Fellowship of the CII, and to make

recommendations to the Honorary Fellowship

Assessment Board

• Receive, originate and approve suggestions of

candidates for nomination for New Year and

Queen’s Honours and to oversee the submission

of nominations to HM Government

• Determine the remuneration packages,

including payment procedures and benefits

of any kind of the Director General and other

Director members of the CII Executive

Committee

• Mitigate against any perceived conflict of

interest between the different functions of the

Nominations and Remunerations Committee

The committee was split into separate

Nominations and Remunerations Committees

in July 2007 as part of the governance changes.

MeetingsTwo meetings were held during the year

with the attendance records as follows:

15 February 2007 – 5 out of 6 members


ROLE OF THE NOMINATIONS COMMITTEE

The role of the Nominations Committee is to:• Give full consideration to succession planning for such Members

of the Board as are appointed by the Board itself

• Be responsible for identifying and nominating for approval of the

Board, candidates to fill vacancies on the Board and committees

• Make recommendations to the Board concerning succession for

Council members and in particular the key roles of President

and Chief Executive

• Make recommendations to the Board concerning chairmanship

of the various Board committees

• Make recommendations to the Honorary Fellowship Assessment

Board concerning candidates for Honorary Fellowship

• Make recommendations to the Board concerning candidates

for nominations for National Honours

Composition of the Nominations CommitteeIndependent non executive chairman appointed November 2007 R. Jordan

Immediate Past President appointed July 2007 I.J. Templeton FCII Chartered Insurer

President appointed July 2007 D.J. Hunt Hon FCII


Board Member from Council appointed September 2007 E.A. Coyle ACII, APFS Chartered Insurer

Note Mr R.E. Brown FCII – Chartered Insurer, acted as interim chairman for the September 2007 meeting. The CII would

like to record its thanks to Reg for his hard work and influence as Chairman of the Nominations and Remuneration

Committee from 2002/3 to his well deserved retirement in September 2007.

MeetingsTwo meetings were held during the last

year with the attendance records as follows:



Main Activities of theCommittee in 2007The separation of the duties

of the Nominations and

Remuneration Committee arose

following Member consultation

under the governance review.

There was considerable confusion

relating to the role and authority

of the old committee and a widely

held misconception concerning

its authority.

In the interests of openness and

transparency, the two elements

of the committee’s role were

separated and a wholly

independent lay chairman

was engaged.

The CII consequently welcomed

in post its first Nominations

Committee chairman from outside

the membership of the CII.

Robin Jordan joined the

Committee as lay chairman

in November 2007 following

a Nolan based recruitment

procedure now formalised

and published in the new

committee’s Terms of Reference.

He is a Chartered Companion

of the Chartered Institute of

Personnel and Development

and holds an MA in Economics

and Maths from the University

of Edinburgh. His extensive

experience includes being an

Assessor for Ministerial Public

Appointments in Scotland and

Chairing the CIPD Board as

well as being a member of its

Remuneration and other

committees. One of his ongoing

priorities is to continually

review the methods by which

potential candidates are

currently identified and

recommended in the light

of best practice and with

special focus on simplicity

and openness and transparency

of process. He is keen to point

out that any improvements in

process should be with the

primary aim of identifying

and recommending the best

candidates for office/honour

from the widest pool possible,

while at the same time as

recognising the highly

confidential nature of the

majority of the work of this

committee.

During 2007 the committees

pre-and post-July considered

in excess of 50 names of

individuals as having potential

in relation to the Institute’s

succession planning process.


ROLE OF THE REMUNERATIONS COMMITTEE

The main role of the Remunerations Committeeincludes making recommendations to the Board on:• The framework or broad policy for the remuneration of the

executive members of the Board;

• The on-going appropriateness and relevance of the remuneration

policy for staff;

• The design of and targets for any staff performance related pay

schemes and the total annual payments made under such schemes.

Composition of the Remunerations CommitteeChairman appointed September 2007 P. Hubbard

President appointed July 2007 D.J. Hunt Hon FCII


Note – Mr R.E. Brown FCII, Chartered Insurer served as interim Chairman

for the July meeting before stepping down in September.

MeetingsTwo meetings were held during the last year

with the attendance records as follows:



Main Activities of theCommittee in 2007The proposals for the staff

salaries and the Achievement

Bonus Scheme were discussed

in 2007. The Achievement

Bonus Scheme has now been

revised to introduce an

individual and team element

bonus scheme in addition to a

corporate element. The new

design is intended to focus

everyone on achieving the

business plan for 2008.

All staff members are subjected

to both mid year and year end

Performance & Development

Reviews which can affect any

incentive payments under the

Achievement Bonus Scheme,

for example the achievement of

departmental budgets in respect

of directors and heads of

departments. The President

systematically reviews the

performance of the Chief

Executive and reports to the

committee accordingly.

PROFESSIONALSTANDARDS BOARDROLE OF THE PROFESSIONAL STANDARDS BOARDThe role of the Professional Standards Board (PSB) is to develop policy and

standards for CII members, including professional conduct and trust, discipline,

ethics and competence; to develop appropriate policy and standards for the CII’s

governance, including accountability, diversity, consumer representation and

transparency; to monitor and review these standards; to communicate the standards

to the members and committees; to promote professionalism and the adoption

of high standards within the industry, with government, with regulators and most

importantly to consumers.

Composition of the PSB during the yearIndependent non exec chairman appointed 2006 D. McIntosh

Research & Events appointed 2002 K. Borrett FCII, Chartered Insurer

Regulatory Representative appointed 2003 A. Darling FCII, Chartered Insurer

Loss Adjusting Representative appointed 2003 A. King

Wholesale Market Representative appointed 2005 D. Gamble

Financial Services Representative appointed 2003 R. Rennison FCII, FPFS, Chartered Financial Planner

Consumer Interest Representative appointed 2005 S. Locke

Academic Representative appointed 2006 J. Navare FCII, Chartered Insurance Practitioner

Chief Executive Officer ex officio appointed 2000 A.W. Scott

Deputy Director General ex officio appointed 2004 R.A. Bullivant, FCII, APFS, Chartered Financial Planner

Consumer Interest Representative appointed 2007 N. Mullany

MeetingsFour meetings were held during the last

year with the attendance records as follows:

23 January 2007 – 9 out of 10 members

25 April 2007 – 5 out of 10 members

Main Activities of the Board in 2007The governance review sought to

raise the profile of the Professional

Standards Board and in so doing

amended the reporting lines of

the CII’s standing Committees.

This saw the transfer of direct

responsibility for the Examiners

Committee being transferred from

the governing body to the

Professional Standards Board.

This gave the PS Board specific

responsibility for the Disciplinary

Committee, the Disciplinary

Appeals Committee and Examiners.

Much of the year’s programme

followed on from 2006 with

considerable progress being made

with leading the industry’s

response to the FSA’s Retail

Distribution Review. Roderic

Rennison chaired the FSA’s

Industry Group on

Professionalism, and apart from a

comprehensive submission to the

FSA the CII also issued 5 Position

Papers the reaction to which was

predominantly positive.

Responses and contributions were

also made to the Thoresen Review

of Generic Financial Advice.

There was additionally increased

emphasis on matters of equality

and diversity and various

initiatives approved, many of

which will begin to take shape

from quarter one 2008.

In September 2007 the

Professional Standards Board set

up a sub-group under its direction

to review the content style and

impact of the Code of Ethics and

Conduct. The current Code was

issued in September 2004 and was

due for review in the light of

experience within the CII,

especially in the disciplinary arena

but also as a response to world

events such as Enron. A final draft

for consultation purposes was

anticipated by September 2008.

During the year Angela Darling,

Andrew King and Roderic

Rennison all agreed to stand

for a second and final three

year term on the PS Board. Nicola

Mullany attended her first meeting

of the Board in November 2007.


EXAMINERS COMMITTEEROLE OF THE EXAMINERS COMMITTEEThe role of the Examiners Committee was to oversee the development and operation

of the Institute’s examinations to ensure that their integrity and standard were

maintained and that they remained relevant and ‘fit for purpose’. The committee

reported to the CII Management Committee prior to the governance changes in

July 2007 and to the Professional Standards Board thereafter.

However, in 2007 the Committee recommended a restructure with change of

emphasis to ensure that it was in alignment with QCA requirements, the CII’s

Regulator. The Examiners Committee were instrumental in drafting and approving

the Terms of Reference for the new Qualifications, Examinations and Assessments

Committee (QEAC) which held its first meeting in April 2008.

Composition of the Examiners Committee during the yearAlexander, EVC, ACII, Chartered Insurance Practitioner Appointed 1992

Bamford, N, APFS, Chartered Financial Planner Appointed 2005 Resigned 1 August 2007

Gilbey, MA, FPFS, Chartered Financial Planner Appointed 2005

Kenney-Wallace, G Appointed 2005

Lacey, C, ACII Appointed 2002

Morton, IS, FCII, FPFS, Chartered Financial Planner Appointed 2005

Nicholls, L (lay member) Appointed July 2006

Parsons, C, FCII, Chartered Insurance Practitioner Appointed 1990

Smith, A, FCII, Chartered Insurance Practitioner Appointed 2005

Smith, PRA, FCII, Chartered Insurer Appointed 2001

Stein, WM, FCII, Chartered Insurance Practitioner Appointed 2004

Williams, PJ, FCII, FPFS Appointed 2003 Appointed Interim Chairman January 2007

Chartered Financial Planner Vice Chairman

Warr, C, ACII, Chartered Insurer Appointed 2005

MeetingsFive meetings were held in the year with the attendance records as follows:

1 February 2007 – 7 out of 13 members

26 April 2007 – 8 out of 13 members

25 July 2007 – 7 out of 13 members

10 October 2007 – 6 out of 12 members

5 December 2007 – 8 out of 12 members

Main activities of theCommittee in 2007

Examination Standards

The committee reviewed the

policies adopted in relation to

the setting and marking of

exams to ensure that all

candidates received a fair result.

It paid particular attention to

the controls which were

introduced as a result of the

transfer of objectively tested

examinations to an on line

format.

Accreditation

The committee oversaw the

granting of requests for

accreditation of prior learning

from a wide variety of students

and educational institutions. Its

policy in considering such

requests was always to ensure

that a candidate was treated

fairly.

Syllabus Content

The committee oversaw the

content which was placed into

CII syllabus areas.

Conclusion

The Committee believes that the

substance of its discussions was

fairly recorded in the minutes of

the Committee which were

submitted to Council for review

prior to July 2007. After July

2007, the Committee reported to

the Professional Standards

Board by exception and were

satisfied that the criteria for this

were met. The Committee were

pleased to report that, from the

extensive information that had

been made available, it did not

consider that there are any

other issues that needed to be

drawn to the attention of the

Professional Standards Board

DISCIPLINARY COMMITTEEROLE OF THE DISCIPLINARY COMMITTEEThe role of the Disciplinary Committee is to:

• Consider any Complaint made against CII Members in accordance

with the Disciplinary Rules and Regulations Procedures. 74 cases

were investigated in 2007 other than cases where members had

failed to produce CPD records

• Oversee the process by which the people who fail to produce CPD

records on request are disciplined

• Appoint a Panel from within the Committee membership to hear Complaints

• Determine the validity of any Complaint

• Where the Complaint is upheld, to decide appropriate disciplinary

action against a Respondent

• Review applications for membership from bankrupts and people

with criminal convictions. Eight applications were considered

in 2007. Four applications were accepted and four were rejected.

Composition of the Disciplinary Committee during the year

* Please note that by a decision of Council dated November 2005 appointment dates are deemed to run from 2002

or actual date of appointment if later

Chairman Davidson, KM, ACII, Chartered Insurance Practitioner, London Appointed 2002 (retired 18 July 2007)

Chairman Neilson, JL, FCII, MSc, MBA, FCII, FCIArb, Chartered Insurance Practitioner

Harrow and Ealing, (Chairman from 19 July 2007) Appointed 2002

Ferguson, J, OBE, FRPharm.S, FPS(NZ) Hon, DSc (lay member) Appointed 2002

Goddard, E, FIOD, FCMI, FGBC, MIAM, RMaPS (lay member) Appointed 2002

McCombe, GJ, FCII, Chartered Insurer, Belfast Appointed 2004

McGregor, S, JP, BA (Hons), Dip Ed FIMI, (lay member) Appointed 2004

McNair, N, FIMS, (lay member) Appointed 2003

Moss, RF, Dip PFS, Cert CII (MP), Bristol Appointed 2002

Robinson, MJS, ACII, BA(hons) Chartered Insurer, London Appointed 2003

Scott, ERD, BSc (Hons), ACII, MRICS, ACIArb, FCILA, FUEDI-ELAE

Chartered Insurance Practitioner, Kendal Appointed 2002

Watson, KJ, ACII, FCILA, Chartered Insurance Practitioner, Nottingham Appointed 2002

Weald, RA, FCII, Chartered Insurer, Peterborough Appointed 2002

Williamson, L, ACII, Chartered Insurance Practitioner, Edinburgh Appointed 2002

Committee MeetingsGenerally four meetings are held in the Institute year although only

three were required in 2007. Two of the meetings held were

convened on the same date as disciplinary hearings which had

taken place in the morning. Committee Members not selected for

the Panels who had to commute long distances and who were not

required for the hearing, were generally excused physical

attendance at the afternoon’s Committee meetings due to issues of

time and cost effectiveness. Adequate provision was nevertheless

made for those living remotely to fully contribute to these

Committee meetings.


17 May 2007 – 6 out of 13 members



Disciplinary HearingsDates for four hearings are scheduled for each Institute year, however, only three dates were required for 2007.

8 March 2007 – member reprimanded for bringing unauthorised material to an examination

17 May 2007 – member reprimanded for failing to comply with FSA regulations

27 September 2007 – four members were reprimanded and asked to pay £25 towards the cost of the hearing

for failing to treat a member of their organisation fairly

There were also three disciplinary

hearings the details of which are

below (see Disciplinary

Hearings).The Preliminary Screener

adjudicated on one case (apart

from CPD where all cases are dealt

with by the Preliminary Screener)

and a reprimand was issued.

In 2007, 1,841 qualified members

were randomly selected to provide

CPD records and as a result of this

11 people had their designations or

chartered titles rescinded.

Main Activities of the Committee in 2007At the beginning of 2007, a new scheme to select CPD records from up to 10% of the

membership scheme was implemented. Due to the increase in the number of people

who are required to produce CPD records, it is too time consuming and not cost

effective for a disciplinary hearing to be arranged for every member who fails to

produce their CPD record on request, The Disciplinary Rules and Regulations were

amended during 2006 to allow the Preliminary Screener the authority to remove

the chartered titles and designations from CPD defaulters. However, the Disciplinary

Committee have played an integral part of ensuring that this scheme is administered

fairly, ensuring that the Preliminary Screener uses his powers appropriately and the

Committee has also provided CPD defaulters with a right of appeal against the

Preliminary Screener’s decision.

In addition, due to the number of applications for membership which were being

received from bankrupts and people with criminal convictions, the Committee set

up a Membership Application Sub-Committee and drew up a process and criteria

for dealing with such applications.

The Committee have also looked at the content of the Disciplinary Rules and

Regulations with a view to updating them if required. Two particular changes they

have considered are a review of the sanctions to ensure that sanctions can be

rehabilitative rather than punitive and a more effective way to publish the details

of people who have been the subject of disciplinary proceedings. These changes will

be put to the Board for approval in 2008.

The large majority of complaints received are misuse of designatory

letters or complaints not substantiated by the required standard of

evidence or are not appropriate for the CII to deal with in the first

instance. Misuse of designation cases vary and are often dealt with

by simple exchange of letter unless it appears as though the act is

deliberate. Other cases may be referred to the Financial Ombudsman,

the FSA, other professional bodies or are cases which are otherwise

before the courts. There were, however, a number of lengthy

investigations which will result in hearings in the early part of 2008.

APPEAL COMMITTEEROLE OF THE APPEAL COMMITTEEThe role of the Appeal Committee is to:

• Consider Appeals lodged by Appellants against the decisions of the Disciplinary

Committee in accordance with the CII’s Disciplinary Regulations 2004

• Appoint a Panel from within the Committee membership to hear the Appeal

• Act as the Disciplinary Committee’s review and oversight body

Composition of the Appeal Committee during the year

* Please note that by a decision of Council dated November 2005 appointment dates

are deemed to run from 2002 or actual date of appointment if later

Chairman: Kellett, BPD, FCII, Chartered Insurer, London, Appointed 2002 (retired 17 July 2007)

Chairman: Finch, PJ, ACII, MSI, Chartered Insurer

Chelmsford and South Essex

Appointed Chairman from 18 July 2007, Appointed 2002

Azubike D, JP, PhD, BSc,DIC, MIMMM, C.Eng, CMIOSH (lay member), Appointed 2005

Haggis E, ACII, Solicitor, FPMI, Chartered Insurance Practitioner, Manchester, Appointed 2002

Helyar, I, FCII, LLB, MIRM, Chartered Insurance Broker, Leeds, Appointed 2002

Hillier, EDG, FCII, CertPFS, Solicitor, Chartered Insurance Practitioner, Appointed 2002

Royal Tunbridge Wells

Hewitt, P, FCII, LL.B, Chartered Insurer, Appointed 2002

Ipswich, Suffolk and North Essex

Jaffe, P, FCII, Solicitor, Attorney at Law, Chartered Insurer, London, Appointed 2002

Jenner, AJ, FCII, FCIPD, Chartered Insurer, Brighton, Appointed 2002

Greenhill RT, Chartered CCIPD,FCIB, FIoD (lay member), Appointed 2002

Please note: Peter Taylor, Solicitor, Harry Mawdsley, OBE, JP, DL, and Michael Williams, Barrister

(Australia) and Solicitor Advocate (England and Wales) were appointed to the Committee in 2008

Committee MeetingsGenerally four meetings are held in the Institute

year although clearly the requirements for

Appeals and meetings of its Committee are closely

related to those of Disciplinary. The comments

made under the Disciplinary section above apply

equally to Appeals.

9 May 2007 – 8 out of 10 members


Appeal HearingsNo hearings were required in 2007

Main Activities of theCommittee in 2007During 2007, the Committee have

reviewed the current Disciplinary

Rules and Regulations to ensure

that they remain contemporary

and relevant. As a result of this

process and in consultation with

the Disciplinary Committee and

Professional Standards Board

certain changes will go to the CII

Board for approval in 2008. The

changes are focused on increasing

the range of sanctions to make

them rehabilitative rather than

punitive where possible and

identify individuals who

contravene the Code of Ethics with

more certainty when Disciplinary

decisions are published.

The Committee also has an

oversight role for the Disciplinary

Committee and receives case

statistics and matters referred

to it for consideration by the

Disciplinary Committee.

WE BELIEVE THENEED FORPROFESSIONALSTANDARDS HASNEVER BEENGREATER. ANDTHERE IS NO MORESOLID PLATFORMON WHICH TO BUILDTHE CII.


THE CHARTERED INSURANCE INSTITUTE

20 Aldermanbury, London EC2V 7HYtel: +44 (0)20 8989 8464fax: +44 (0)20 8530 3052

email: [email protected]: www.cii.co.uk

© The Chartered Insurance Institute 2008

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