The next step is to get approval from the Chartered Insurance Institute next month
Opening Airmic’s annual conference in Liverpool this year, John Hurrell, the association’s chief executive, reported significant progress in the journey to achieving official chartered recognition for risk and insurance managers:
He said: “I’m delighted to say that a proposal to create the new title of Chartered Insurance Risk Manager has progressed through Privy Council stage and is now going for approval to the Chartered Insurance Institute’s (CII) annual general meeting next month.
“This would entitle current and future CII members with chartered status to opt for the new title. We hope this proposal is able to jump this very final hurdle.”
Hurrell used his address to praise the Law Commission for successfully getting the Insurance Act 2015 through parliament, one of the most significant legal developments in recent years.
He urged insurance buyers to consider amending contracts to reap its benefits ahead of the August 2016 implementation date: “We have been working with our friends at Herbert Smith Freehills to issue a clause that would effectively replicate the main policyholder advantages of the new law. These are available now.”
The legislation was passed in February and fundamentally reforms the laws governing commercial insurance, including crucial safeguards for policyholders. Airmic has been campaigning for change for years.
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