|
Now Exploring > Important Annoucement
|
Scheme of arrangement between the Insurance Institute of India and the Chartered Insurance Institute, London
|
We are pleased to inform you that the Insurance Institute of India has finalized a special scheme of arrangement between the Insurance Institute of India (III) and Chartered Insurance Institute (CII) to promote the CII qualifications to the Associates and Fellows of III at a discounted rate. Following are the broad guidelines of the arrangement between the III and CII.
|
1. The Associates and Fellows of Insurance Institute of India can enter for the CII examinations and take up the Advanced Diploma in Insurance qualification of the CII at a discounted rate.
2. The minimum credits necessary for any candidate to be eligible for completion of the Advanced Diploma in Insurance according to the new framework of the Chartered Insurance Institute is 290 credits.
3. The Associates of Insurance Institute will be granted 120 credits as per the scheme of accreditation and the Fellows will be granted 210 credits.
4. The Associates can pass five Advanced Diploma units carrying 30 credits for each unit and one unit from the Diploma Level carrying 20 or 25 credits to accumulate the total 290 credits required to be elected as ACII. It is suggested that the Diploma Level unit taken is P01 Insurance practice and regulation. At least one unit from the Advanced Diploma Level must be passed by examination at the CII.
The only unit within the CII qualification framework not included in this arrangement is the Certificate in IT for Insurance Professionals in which the examination is administered by the British Computer Society.
5. Similarly, the Fellows can pass three units from the Diploma Level carrying 20 or 25 credits and must pass at least one unit from Advanced Diploma module. The list of the CII units (subjects) available for selection along with their credits value is given in Schedule 1.
Neither Associates or Fellows will be permitted to sit the examinations in CII units P05 Insurance law, 510 Risk, regulation and capital adequacy and 530 Business and economics.
.
6. The candidates desirous of entering for CII examinations will need to get their AIII / FIII certificates certified by the III officials.
7. The candidates should then contact the Customer Service Department of the Chartered Insurance Institute directly to register for their exams. The contact details are Customer Service, Chartered Insurance Institute, 42-48, High Road, South Woodford, London E18 2JP customer.serv@cii.co.uk
8. The Examination Application form is available on the website of the CII www.cii.co.uk . The candidates can download the examination form and fill in the same.
9. The candidates cannot register for the examinations of the CII Online under this scheme of arrangement.
10. The application form along with either credit card details or a cheque in pound sterling drawn on a UK Bank made out to the Chartered Insurance Institute for the requisite amount towards the exam fees, membership fees, books, postage etc. to be sent directly to the CII. The details of fee structure is given in Schedule 2. The fees can be paid by bank transfer after consultation with the CII.
11. The certified copies of AIII and FIII certificates should also be sent to the CII along with the application form.
12. The CII will send the books and other correspondence directly to the candidates.
13. Results will be sent by CII directly to the candidates.
14. The candidates who have acquired the 290 credit threshold will be awarded Advanced Diploma in Insurance and can apply to use the designations ACII only if they have paid the annual membership fees (qualifications fees) of the CII and agreed to undertake the CIIs programme of continuing professional development.
15. A table showing the monetary benefits to the III members registering under this scheme is given in Schedule 3 and also a diagram showing the steps to be followed by candidates desirous of taking up CII exams is given in Schedule 4 for information
16. In case of any queries kindly contact msraikar@iii.org.in at the Insurance Institute of India.
17. All discounted rates only apply to current members of the Insurance Institute of India who are current residents in India and are taking their exams at a CII examination centre in India.
18. Postage and packing of textbooks is not included in the discounted rates and will be charged at 14.00 per item.
|
Yours Sincerely,
(S.J.Gidwani)
Secretary-General
|
Schedule 1
Credits Structure of Chartered Insurance Institute units
|
|
Credits
|
|
Advanced
Diploma in Insurance
|
|
|
|
|
|
40
credits
|
|
(955)
London Market Underwriting
|
|
|
|
|
|
|
|
30
credits
|
|
(555)
Life and disability underwriting
|
|
(556)
Life and disability claims
|
|
|
|
|
|
|
|
|
|
(655)
Risk Management
|
|
(735)
Life Assurance
|
|
|
|
|
|
|
|
|
|
(745)
Principles of property insurances
|
|
(750)
Commercial property insurance underwriting
|
|
|
|
|
|
|
|
|
|
(755)
Liability insurance
|
|
(760)
Personal lines insurance
|
|
|
|
|
|
|
|
|
|
(765)
Motor insurance
|
|
(770)
Principles of marine insurance
|
|
|
|
|
|
|
|
|
|
(775)
Marine insurance underwriting
|
|
(780)
Aviation Insurance
|
|
|
|
|
|
|
|
|
|
(785)
Principles of reinsurance
|
|
(790)
Private medical insurance
|
|
|
|
|
|
|
|
|
|
(815)
Underwriting management
|
|
(820)
Claims management (non-life)
|
|
|
|
|
|
|
|
|
|
(825)
The application of reinsurance
|
|
(920)
Lloyds market supervision
|
|
|
|
|
|
|
|
|
|
(925)
Insurance and the single European market
|
|
(930)
Insurance broking
|
|
|
|
|
|
|
|
|
|
(940)
Finance and accounting
|
|
(945)
Marketing
|
|
|
|
|
|
|
|
|
|
(950)
North American insurance
|
|
|
|
|
|
|
Diploma
in Insurance
|
|
|
|
|
|
|
|
25
Credits
|
|
(P10)
Commercial insurance practice
|
|
(P11)
Personal insurance practice
|
|
|
|
|
|
|
|
|
|
(P12)
Long-term business
|
|
(P13)
Marine and aviation insurance
|
|
|
|
|
|
|
|
|
|
(P17)
Operational management
|
|
|
|
|
|
|
|
|
|
20
Credits
|
|
(P01)
Insurance practice and regulation
|
|
|
|
|
|
|
|
|
|
|
|
(P18)
Property claims handling
|
|
(P19)
Subsidence claims handling
|
|
|
|
|
|
|
|
|
|
(P21)
Commercial insurance contract wording
|
|
|
|
|
|
|
|
|
|
|
|
Certificate
in Insurance
|
|
|
|
|
|
|
|
15
Credits
|
|
(IF1)
Insurance, legal and regulatory
|
|
(IF2)
General insurance business
|
|
|
|
|
|
|
|
|
|
(IF3)
Insurance underwriting process
|
|
(IF4)
Insurance claims handling process
|
|
|
|
|
|
|
|
|
|
(IF5)
Motor insurance products
|
|
(IF6)
Household insurance products
|
|
|
|
|
|
|
|
|
|
(IF7)
Healthcare insurance products
|
|
|
|
|
|
|
|
|
|
|
|
Award
in Insurance
|
|
|
|
|
|
|
|
6
Credits
|
|
(FIT)
Foundation Insurance Test
|
|
Schedule 2
Fee Structure
|
|
Particulars
|
Fees
for III members
|
|
Admission
Fees
|
Nil
|
|
Course
Books (per subject including examination fee)
|
70.00
|
|
Re-Sits
(all subjects all levels)
|
35.00
|
|
Accreditation
of prior qualifications of III (AIII & FIII)
|
Nil
|
|
Annual
Membership fees (designation fees)
|
30.00
(all
levels)
|
|
Postage and Packing of textbooks
|
14.00
|
|
Schedule 3
Benefit to Members of Insurance Institute of India
|
|
Particular
|
Normal
fees
|
Fees
for III members
|
Saving
of III Members
|
|
Admission
Fees
|
35.00
|
Nil
|
35.00
|
|
Course
Books (per subject including examination fee)
|
99
to 202
|
70.00
|
29
to 132
|
|
Re-Sits
(all subjects all levels)
|
60
to 98
|
35.00
|
25
to 63
|
|
Accreditation
of prior qualifications of III (AIII & FIII)
|
360 to 630
|
Nil
|
360 to 630
|
|
Annual
Membership fees
(designation
fees)
|
46.00
to 97.00 (different fees for various levels)
|
30.00
(all
levels)
|
16
to 67
|
|
Total
Savings
|
|
465 to 927
|
|
Savings
in Equivalent Indian Rupeees
|
|
Rs.40000 to Rs.80000
|
|
Schedule 4
Examination Process Diagram
|
|
|
|
