CII AnnuAl RevIew 2011 - The Chartered Insurance · PDF file26 CII AnnuAl RevIew 2011 ......

CII AnnuAl RevIew 2011

A CENTURY OF PROFESSIONALISM

26 CII AnnuAl RevIew 2011

Despite a challenging economic environment in the wake of the global financial crisis and regulatory change, 2011 was a good year for the Chartered Insurance Institute (CII). It was the year in which we saw considerable progress being made in raising professional standards.

At a time of general public antipathy towards financial services, it has never been more important to promote and demonstrate the merits of professionalism.

The CII has continued to invest time and energy into developing what is central to the purpose of our Charter: to provide appropriate and relevant qualifications, build adherence to a rigorous code of ethics and participation in continuing education, alongside publicly visible professional body disciplinary procedures.

My presidential year has been inspiring and I would offer high praise to the local institutes and all members for their continuing voluntary efforts. In essence, this provides the glue that binds together any profession.

The CII continued to invest in content and support for firms and individuals to enhance their professional standards, with particular emphasis on Chartered status. The growth in those holding Chartered status – now numbering nearly 21,000 individuals and almost 500 firms – is the living proof of a profession striving for excellence. Meanwhile, growing market support for the Aldermanbury Declaration underpins a longer-term voluntary drive towards raising standards in general insurance.

However, fundamental to a profession is its renewal through an influx of talent. The focus of my presidential manifesto is about securing future skills by building a better image for insurance and financial services. This is exemplified in the CII’s schools, colleges and universities programmes, Discover Risk and the recently launched Discover Fortunes initiative, along with developing stronger links with higher and further education.

Though our profession lags behind more established professions in nurturing and developing talent, great strides are being made, including employers providing work placements.

It has been a privilege to serve as president in the year of our centenary and witness how the efforts made by the CII to restore public trust across insurance and financial advice are rapidly bearing fruit.

Some have questioned the relevance of a Victorian concept like the Royal Charter in the 21st century. But the central objective to “secure and justify the confidence of the public”, far from being outdated, is as relevant today as ever.

Protecting the public interest is the central thrust of the CII’s purpose and, as the Charter states, restoring public confidence and trust in the financial services market will be achieved only by: “creating a genuine global profession where the best interests of the consumer are to the fore, where ongoing learning and expertise are cherished, and where the highest standards of ethical behaviour are pursued”.

The CII is proud that its thought leadership has received plaudits from other professional bodies and groups for its innovation and redefining of professionalism in the 21st century.

We believe professional education should combine high academic standards with business-focused practicality. This ensures that professional education remains highly relevant.

The CII’s commitment to higher technical and ethical standards is achieved through a broad spread of services including membership, qualifications, continuing professional development and a code of ethics guiding professional behaviour.

We continue to work with regulators and educators to embrace the value of professional standards and collaborate with other professional bodies to develop this further.

Thought leadership is a crucial responsibility the CII carries for the sector it serves and we are committed to supporting the profession while enhancing its profile and standing in the eyes of the industry and the public.

C I I A n n uA l R e v I e w 2 0 1 1

President’s foreword

Role of the CII

Julian James, president, Chartered Insurance Institute

2012 marks the Centenary of

the Chartered Insurance

Institute’s Royal Charter

27CII AnnuAl RevIew 2011 27

With 2012 heralding our Royal Charter centenary, it is worth reminding ourselves what lies at the heart of the Charter, namely the promotion and development of professional standards in the public interest.

Central to achieving this is the solid foundation of a clear, strategic plan and financial and operational strength – both of which, I can report, are very much in evidence at the Chartered Insurance Institute (CII). This strength and stability means we can continue to invest at the CII in supporting professional standards as well as promoting the profession to the outside world, whether it is to government, regulators and other stakeholders, or the wider public. This has allowed the CII’s influence to grow, not just in the UK but increasingly across the world as we push for global standards.

This has enabled us to implement the strategic priorities we believe are important to our members and the profession as a whole. In 2011, our priorities focused on building the profession, supporting members and delivering excellence in operations.

InCReaseD ImpaCtThe results of our strategy are evident in all areas of the CII, with exam volumes reaching 110,000, increased impact in international markets and an expanding membership base that saw the milestone of 102,000 members reached by the end of 2011.

In general insurance, the Aldermanbury Declaration has strengthened and deepened the commitment of firms in this sector. The number of firms signing up to its voluntary standards and the evidence of exam numbers demonstrate the industry’s seriousness about professionalism – not because of regulatory compulsion but as a result of the profession itself committing to a journey towards meeting raised standards by 2013. This sends a strong and positive message to the world beyond our profession.

To those achievements, we can add the increased numbers of individuals and firms awarded Chartered status, the extensive support for – and take-up of – RDR gap fill and the establishment of the CII as an accredited body. Equally, considerable work has gone into the rigorous process demanded by our regulator, Ofqual, to meet its new requirements. This reinforces the CII’s status as an organisation committed to excellence. We have invested greater efforts in improving our continuous professional development (CPD) content for members, as well as ethical initiatives to support members’ understanding of our code of ethics. This has meant increasing the range of ethical CPD content and offering greater support through online courses.

Global outlookOn a global front, we have seen a major breakthrough in terms of developing professional standards in India, where we are delivering a new life agent qualification. This is significant, with more than 130,000 life agents sitting the qualification in Quarter 4. We have broadened our reach in the UK through strengthened corporate relationships in the banking sector, where we developed a proposition to support the needs of major retail banks, including HSBC, RBS, Lloyds Banking Group and Santander, in total over 4,000 new members – another reflection of the CII developing new markets domestically, as well as overseas.

As part of our role as a professional body we are committed to thought leadership to ensure our Charter principles remain relevant in a modern context as it begins its second century.

I would like also to echo the words of our president in thanking the many voluntary efforts of members – whether locally or through our boards, faculties and committees – and express my thanks to all CII employees, who have risen to the challenge of a huge year of change. This was exemplified by achieving the Investor in People re-accreditation – but this time at the prestigious and rare gold standard.

The CII celebrates its Charter centenary in 2012 from a position of strength and is well placed to develop our profession and build public trust.

Message froM the Ceo

dr alexander scott, CEO, Chartered Insurance Institute

this sends a strong and positive message to the world beyond our profession


Despite the poor economic environment total income was £38.1m, 12% up on 2010. These figures have been helped by growth in general insurance qualifications driven by the success of the Aldermanbury Declaration and Chartered status. An increase of 20% in international revenues and demand for RDR-related exams in the financial services sector also contributed.

Costs were up by 10% in 2011, accounted for by various initiatives including sales support, reinforcing delivery of the Aldermanbury Declaration, promoting membership and talent, developing micro websites for broker and SME markets and commissioning IT support. Excluding these initiatives underlying costs rose by £1.4m (4.3%).

Full year operating surplus was £1.9m.

finanCial suMMary

did you know?

MeMbership• 102,221 members in 150 countries• 12% of members are based outside the

UK Charteredindividual• 2,844 Chartered Financial Planner• 17,898 Chartered Insurance PractitionerFirm• 404 Chartered Financial Planners• 94 Chartered Insurance Brokers• 12 Chartered Insurers

CustoMer serviCe• 750,399 letters posted • 252,697 calls handled• 62,252 emails handled• 132,288 sets of study materials

despatched• 65,660 record of achievements issued Knowledge serviCes• 71,385 unique visitors from 170

countries exaMs• Around 110,000 people sat CII exams

in 2011• 82 online corporate exam centres• 95 online exam centres• 65 written exam centres• 111 overseas exam centres• 400+ examiners and assessors who are

practising professionals • Nearly 70 exam units with 18

qualifications on offer

£38.14 operating income gross resources by source (2010: £33.97)

41%

28%

31%

n Membership services and subscriptionsn Qualificationsn Educational activities

£33.29 operating expenditure by activity (2010: £33.21)

31%

28%

20%

4%6%11%

n Finance, Facilities and ITn Support for Local Institutesn Professional and Public Affairsn Awarding Body Activitiesn Membership Servicesn Education

the past year has provided a wonderful set of results, and our continuing financial stability has enabled us to make significant investments in areas that benefit our members. one example being a £0.7m investment in providing free gap fill and free statements of professional standing (spss).


suMMary oF FinanCialsConsolidated balance sheet 2011 £’000 2010 £’000Fixed assets 11,129 11,058Current assets 21,556 20,345Current liabilities (13,014) (12,503)Net assets 19,671 18,900Accumulated funds 9,196 8,372General 10,475 10,528Charitable 19,671 18,900 Consolidated income and expenditure account 2011 £’000 2010 £’000Operating income 38,141 33,970Operating expenditure (36,291) (33,206)Operating surplus 1,850 764Non operating income and costs 12 74Net surplus 1,862 838 The summary financial information presented above is extracted from the Institute’s full audited financial statements for the year ended 31 December 2011, which were approved by the Board on 21 March 2012.The full financial statements contain an unqualified audit report. Members who require full financial statements may contact the Secretariat Department at the Institute.

CII AnnuAl RevIew 2011 29

suPPorting your

Profession In the general insurance market, the commitment to excellence embodied by the Aldermanbury Declaration has made notable progress. More than 225 firms have put their names to a framework for professional standards driven by the Insurance Profession Task Force.

Covering all types of general insurance businesses and operational disciplines, the declaration calls on firms to voluntarily implement training programmes, qualifications, CPD and ethical conduct by 2013. Take-up of the Aldermanbury Declaration among global and regional brokers and insurers in the commercial lines market has been significant.

Consequently, many organisations have decided to accelerate their progress towards professional qualifications and standards and have been successful in attaining corporate Chartered status. Broking firms that have been granted Chartered status in 2011 include Lockton, Bluefin, Jelf Group and Willis Network while, among insurers, the Chartered title has been awarded to the commercial divisions of Axa and Allianz and to both commercial and personal lines divisions of Zurich and Hiscox. In total, there are now 94 Chartered insurance brokers and 12 Chartered insurers.

Brokers and insurers have recognised that Chartered status has significant appeal to insurance buyers, who understand the benefits of dealing with firms that have achieved Chartered status in other professions. There is an increasing recognition that professional standards matter and Chartered firms – insurers and brokers alike – favour doing business with others demonstrating such standards. This enthusiasm for higher professional performance in commercial insurance is now starting to show in the retail market, with the CII working closely with Direct Line Group and Tesco Bank to deliver qualification programmes.

We have also witnessed progress in the London Market, with the CII’s Award in London Market Insurance qualification being adopted in the broking sector by Willis, Lockton and Miller and by a wide range of insurers including Xchanging, Beazley, Chaucer, Markel, Talbot, ACE, Brit and Hiscox.

our marketsgeneral insurance

insuranCe proFession tasKForCe

Chris hanks (chair) – General manager, Allianz Commercial

amanda blanc – Chief executive officer, Axa UK Commercial

benedict burke – Senior vice president, global markets, Crawford & Company

eric galbraith – Chief executive, BIBA

Mark hynes – Product and governance director, Aviva

Julian James – Chief executive officer, Lockton; President, CII

stephen lewis – Chief executive officer, Zurich Insurance

neil lightbown – UK underwriting and strategic claims director, RSA

John nicholson – Risk and governance director, Marsh

dr alexander scott – Chief executive, CII

barry smith – Chief executive, Ageas UK

angus tucker – Past president, CILA

dan wilkinson – Chief executive, UK and Ireland, Willis

tom woolgrove – Managing director, personal lines, RBS Insurance

Many organisations have decided to accelerate their progress towards professional qualifications and standards and have been successful in attaining corporate Chartered status

Chris hanksgeneral manager, Allianz Commercial

Advertising campaign for the Aldermanbury Declaration



This is a pivotal year in the financial services market, as the time available to prepare for the requirements of the retail distribution review (RDR) comes to an end on 31 December.

By the end of 2012, all financial advisers will need to have attained a QCF Level 4 equivalent qualification – either by taking one of the new approved qualifications such as the CII Diploma in Regulated Financial Planning, or by completing gap fill to bring legacy qualifications up to the new level specified by the Financial Services Authority (FSA). In addition, a statement of professional standing (SPS) and a commitment to 35 hours’ continuous professional development (CPD) is an annual obligatory requirement by the FSA to provide financial advice.

Throughout 2011, the CII has continued to work closely with the major independent financial advisers (IFAs), networks and retail banks to help their advisers qualify and meet the RDR requirements. Specific support has been developed for large firms such as the Wesleyan, St James’s Place, Towergate Financial, Skipton Financial Services, Towry and Tenet Group, to ensure they maintain their advisers’ ability to provide financial planning services beyond 2012.

In addition, the CII has continued to strengthen its relationships with the major retail banks. HSBC, Lloyds Wealth, Santander and RBS have all developed formal, bespoke programmes for their regulated advisers in partnership with the CII. These programmes have involved planning individual learning materials and exam pathways suited to advisers’ individual learning styles and job roles. More than 74,000 CII exams were taken in financial services subjects in 2011, which provides strong evidence of the value of our exam framework and clearly shows the CII has supported the majority of the adviser population to become qualified to the required level.

Those companies that are approaching RDR-readiness in terms of qualification progress have switched their attention to the broader aspects of professional standards. This is focused on membership of the CII or Personal Finance Society (PFS) and, in particular, the provision of accredited body services. We have already successfully secured commitments from a number of the major advisory firms, including IFAs and retail banks, to provide these services to their staff.

Equally, there are numerous firms introducing study programmes to encourage advisers to go beyond the regulatory requirements by becoming Chartered financial planners. Overall, the CII now has more than 2,792 Chartered financial planners and more than 362 Chartered firms. The Chartered brand is seen as a means of differentiation for prospective customers, staff and other professional firms. A recent survey among Chartered firms found that 82% believe their Chartered status has enhanced perceptions of the firm among existing staff and potential new staff, while 76% believe their status has enhanced perceptions of the firm among prospective customers and 45% believe their Chartered status has helped them win new business.

As well as providing specific guidance to the larger firms in support of their advisers, the CII has also increased the focus it provides to regional firms of IFAs. During Q4 2011, the CII developed a programme geared towards the needs of smaller IFAs and completed eight roadshows, which were attended by more than 130 IFAs, including many business owners. These roadshows concentrated on RDR readiness and gap filling requirements. In addition, numerous opportunities were taken to underpin this activity by presenting on panels at industry events such as Taxbriefs seminars, Marketforce conferences and Money Marketing roadshows.

financial services


The CII’s examination activities are regulated by the Office of Qualifications and Examinations Regulation (Ofqual). This makes the CII one of the largest awarding organisations in the UK, with about 110,000 examinations sat in 2011.

In May 2011, the regulator published new general conditions of recognition – the rules by which the CII has to operate – which took effect in July 2011, applying to all awarding organisations recognised by Ofqual that offer regulated qualifications.

The CII spent considerable time in the second half of 2011 planning and drafting its statement of compliance for the regulator, showing how it meets these new conditions and including how it intends to self-evaluate against them in future.

The new regulator is adopting a risk-based approach to regulation and consulting on a range of new powers and sanctions.

A new role of director of educational standards was created to focus on the issue of standards, particularly in relation to qualifications, examinations and assessments. This was a response to the increasing focus on regulatory standards both Ofqual and the Financial Services Authority and is a reflection of a new level of public and political scrutiny of the examinations regime.

The CII has been working towards ensuring all its examination units sit within the regulated framework. This has meant continuing to develop qualifications for submission to the qualifications and credit framework. All regulated qualifications, including the Diploma and Advanced Diploma in Insurance, will be put into the framework during the coming three years. This enables all CII qualifications to be benchmarked against quality assurance standards and gives a high degree of transparency to the qualifications listed in the register of regulated qualifications.

The CII also ensures that all its qualifications used by customers for regulated job roles are included in the FSA’s appropriate qualifications lists.

We continue to work with the Financial Skills Partnership on the inclusion of our qualifications in the relevant apprenticeship frameworks.

Beyond the UK, the CII’s footprint is ever increasing, with more than 15,000 of all members based overseas, in 150 countries. Learning from and capitalising on its experience in the UK life and non-life markets, the CII is continuing to promote professional standards globally.

Having a local management presence in territories including the Far East, Middle East and India, the CII is working in growth markets and in locations where it has a collaborative relationship with local regulators.

In India, the Insurance Regulatory and Development Authority launched a new life agent qualification in July 2011. Designed by the CII in partnership with local practitioners, it is a mandatory requirement for all financial advisers. As many as 133,000 agents sat the qualification between October and December 2011, with numbers expected to grow in 2012, along with further programmes arranged for senior life agents within the Life Insurance Corporation of India. Overall, CII activity in the country doubled in 2011 and a new operating subsidiary enables the CII to deliver more services in line with local demand, including the potential for activity in the general insurance market.

While some countries in the Middle East have been more preoccupied with social upheaval since the start of 2011, the focus on professional standards in insurance has persisted.

The Far Eastern market, now serviced through additional CII resource based in Kuala Lumpur, is well placed to meet the so-called “southern surge” of financial growth in the region. With 4,000 members across the whole region, including 750 in Singapore alone, the CII has developed a partnership with the Singapore College of Insurance, supporting its process of fast track qualifications aimed at graduates. This programme enables young entrants to the industry to potentially achieve the CII Advanced Diploma in Insurance within 15 months.

Traditionally, across Asia, the CII has benefited from ACII being viewed as the key qualification for the non-life market. Indeed, many senior leaders today in the region hold ACII and the qualification has underpinned the careers of many experienced practitioners. The CII is also working with media partners to raise the profile of professionalism in the region, including participation in conferences.

international the awarding body


As the leading professional organisation for insurance and financial services, the CII is responsible for benchmarking standards in the industry. The CII has eight different accreditation schemes to support the assessment of company training programmes, individual competence standards and qualifications.

The CII assesses and authorises prior exams and qualifications awarded by other professional and educational bodies and acknowledges areas of duplicate learning by awarding credits into the CII qualifications framework. These awards are reviewed every three years to ensure relevance and to account for a changing environment.

The system looks at all certified learning and awarding bodies anywhere in the world. A comprehensive list of relevant non-CII exams and qualifications already exists across accounting and finance, business, economics, law and management, and the CII is constantly refreshing its list to keep content up-to-date.

Requests for accreditation are made through application, with more than 10,000 applications processed in 2011.

In addition to professional qualifications, the CII is able to certify company training schemes through its Qualifications, Examinations and Assessment Committee. To date, companies whose programmes have successfully achieved accreditation include Allianz, Aviva and Zurich.

Continuous professional development (CPD) also falls under this certification process and the CII evaluates training providers, company internal training programmes, member networks and PFS events to ensure they meet the quality “kite mark” standard. Much of 2011 activity centred on gap fill, as the financial services sector addressed the professional standards required by the FSA’s retail distribution review.

Organisations that have successfully achieved CPD accreditation for their ‘RDR qualification gap fill’ learning events include Sesame Bankhall Group, Three Sixty Services, Fidelity Investments and JP Morgan Asset Management.

accreditationThe Financial Services Authority (FSA), as part of the process of completing the retail distribution review (RDR), created the concept of accredited bodies to oversee professional standards for regulated financial advisers. The CII, which is the largest professional body in this market with more than 17,000 members via the Personal Finance Society (PFS) who are regulated advisers, applied in 2011 to become one of the regulator’s accredited bodies.

Following a rigorous audit process and submission to the FSA, the CII was awarded accredited body status in September. As an accredited body, the CII will oversee all aspects of professional standards as covered by the RDR including the issuing of statements of professional standing (SPSs), which will be required for advisers from 2013.

Internal governance procedures have been established through an executive committee and the CII’s independently chaired professional standards board monitors the whole process. We began issuing SPS in November and had issued more than 1,400 by the end of 2011.

accredited body

requests for accreditation are made through application, with more than 10,000 applications processed in 2011



The CII would not be able to offer such a wide range of examinations and assessments without the input and support of experienced and enthusiastic professionals from all parts of the financial services world.

Professional bodies depend on the expert support of practitioners in helping them to design, develop and deliver examinations and assessments. In the case of the CII, that involves work in 150 countries around the world. For example, examination entries in certain international markets have been growing steadily, such as in the Middle East and India, and we have started to develop other units for South East Asia. It really is a case of by the market, for the market.

We recognised the hard work put into the examinations by our subject matter experts by hosting a dinner in their honour at the CII’s Insurance Hall in 2011. This was a thank you to the volunteers and experts who gave up their time and work hard to improve the educational standards of the profession.

There has been a significant increase in demand for our examinations in 2011 to 110,000.

advoCaCyin aCtion

exams and qualifications

the shift to onlineThere was a huge shift towards online testing in 2011: nearly 90,000 of the 110,000 exams were online, the reverse of previous years.

We continued a programme of upgrading and relaunching a number of qualifications and the associated learning materials, an increasing number of which are now delivered online. Examples of upgraded subjects include: risk management; advanced insurance broking; advanced claims; marketing insurance products; and services.

The CII has continued to develop new units within the general insurance and financial services frameworks to meet customer demand. During 2011, examples included: paraplanning; senior management and supervision; and customer service in insurance. Further units will be introduced in 2012. We also began a pilot on coursework assessment in 2011. The outcomes will be reviewed in 2012 to verify whether this form of assessment should be extended to other units.


Last year saw a major review of the CII Faculties’ offering for members and the introduction of a new strategy for the development of market-led and career relevant specialist support and CPD.

The new programme consists of a mix of professional CPD, be that technical and market-issues based articles, analysis, research, reports, face-to-face and online events, seminars and career guidance.

A series of targeted half hour educational video seminars was launched in 2011, with a focus on the implications of The Bribery Act for anyone working in broking, and an analysis of MOJ Reforms for those in claims. A full programme has been mapped out by the Faculty Boards for 2012.

A range of specialist roundtables and market debates were also supported in 2011. The London Market Faculty and Insurance Broking Faculty for example hosted a roundtable at the Airmic conference in June. An assortment of market practitioners and risk managers discussed a proposed Airmic clause on non-disclosure, with the final debate written up and published in the Journal.

In addition to the enhanced programme of CII-driven CPD content, the Faculties negotiated for members to be able to take advantage of reduced rates on existing third-party conferences and seminars that meet the CII’s rigorous standards. In 2011 this gave members access to a host of specialist events including the ABI Motor Conference, Claims Club Claims Event, British Insurance Summit, The Future of General Insurance Conference, The Insurance Network 6th Annual Congress, The Future of Life Insurance and more.

The Faculty Boards also continued to help drive the CII’s range of specialist sector reports. Working in conjunction with Ernst & Young, the Underwriting Faculty released the results of a major report – Bringing profitability back from the brink of extinction – examining the evolving motor insurance market. A short video was produced trailing the main findings and suggesting areas where future investment may take place. Additionally, Ernst & Young visited a number of local institutes to share insights directly.

Work started with Oliver Wyman on the Underwriter of the Future report about the potential changes to underwriting and trading with the SME and corporate markets. Early findings were discussed at the British Insurance Summit by CII director of faculties, Ant Gould, with the final report due to be released in early 2012.

Members of the Underwriting Faculty Board also had the opportunity to recognise an underwriter of exceptional ability at the Underwriting Service Awards in November. John Smeaton, head of commercial property and combined segments at Aviva, received a special achievement award.

In terms of live face-to-face events, the first regional market forum was launched. The Insurance Broking Regional Market Forum in Cambridge provided a mixture of CPD seminars and access to a wider market issues debate. In the life and pensions sector, long term care featured heavily. The Life & Pensions Faculty hosted a major debate in the wake of the Dilnot Commission’s report, which focused on the potential solutions for funding. This was also filmed and made available at Knowledge Services.

2011 was the year the Faculties established an online presence, with dedicated LinkedIn groups to encourage professionals to communicate with each other and share best practice and knowledge. They also supported and took part in a host of online webinars, covering issues from social media engagement to the issue of reputation.

Finally, the online support provision through Knowledge Services was reviewed and enhanced with more sophisticated targeting of relevant content, from videos through to research, technical articles, legal cases and fact files.

faculties

faculties mission statement:

to raise the levels of professional knowledge and technical competence and to assist members in their personal career development.

“to provide a forum to encourage and promote progression to qualified status and the maintenance of good practice, the highest standards of competence, expertise and professionalism to staff at all levels



In 2011, a comprehensive cross-Faculty new generation programme was launched to support the retention of talent and development of tomorrow’s leaders. This built on the pilot new generation initiative established by the Claims Faculty the previous year, which produced a report on the use of social media in surge events.

The new programme has separate groups for claims, insurance broking, underwriting and the London Market made up of almost 40 individuals nominated by their companies. The annual programme provides the opportunity to attend thought leadership seminars, learn about lobbying at Parliament, visit the Financial Services Authority to understand how the regulator works and be media trained. Each Faculty group also has to undertake an industry project of their choosing, supported by members of the board. Results are expected during summer 2012, after which a new intake will be sought.

the faculty Boards:Each Faculty is supported by a board of key market practitioners. The members were reviewed in 2011 and a new triple ‘A’ structure based on Advice, Advocacy and Access was put in place.

2011 liFe & pensions FaCulty board

Chair: Robert Fletcher (ACII, APFS, Chartered insurer) – bancassurance director, Lloyd’s Banking Group

elaine maclean – group human resources director, Legal & General

paul mcmahon – UK group marketing director, Aegon

Don Wild – industry relationship director, Standard Life

maggie Craig – director of financial conduct regulation, Association of British Insurers

John simmonds – former chief executive officer, Bluefin Advisory Group

barry kayes – director, SimplyBiz Advisory Board

Richard Crouch – customer services director, Friends Life

paul matthews – UK chief executive, Standard Life

patrick Gale – chairman of the distribution board, Aegon

2011 ClaiMs FaCulty board

Chair: tony emms (aCII) – chief claims officer, UK claims, Zurich Insurance Company

andrew mcbride (aCII) – claims director, QBE Europe

Richard pilkington (aCII) – senior supply manager, claims, NFU Mutual

benedict burke (aCII) – senior vice president, global markets, Crawford & Company

Graham Hughes (aCII) – head of commercial claims, RSA

lynn Day (FCII) – head of GI operations, The Co-operative Financial Services

stephen Roberts (Dip CII) – head of UK claims, Brit Insurance

David Frost (FCII) – director of technical and large loss, RBS Group

martin ashfield (aCII) – head of commercial property claims, Axa Insurance

Gerry loughney (FCII) – non-executive director, Cunningham Lindsey

Gary bass (aCII) – claims consultant, Lloyd’s Market Association

Graham Cave – former development director, CILA

John kenny (FCII) – former chief claims manager, NFU Mutual

mary Rogerson – group insurance claims manager, Rolls-Royce

Graham Gibson – director, claims, Allianz

new generation groups

robert fletcher Life & Pensions Faculty Chair

tony emms Claims Faculty Chair

stuart reid Incoming Insurance Broking Faculty Chair

david williams Underwriting Faculty Chair

faculty Board Chairs

Insurance Broking Faculty New Generation Group 2011-2012


In the mortgage market, customers and advisers have faced challenges in adjusting to changing market conditions. For the public, this has meant first-time buyers finding it difficult to obtain credit and existing mortgage holders struggling with falling equity values, though the picture varies regionally.

Meanwhile, there has been a significant contraction in the overall number of mortgage advisers while those who remain have moved into other areas, such as life insurance, to supplement their income. It has, in a sense, become the survival of the fittest.

The emphasis placed on qualifications and professionalism by the Society of Mortgage Professionals (SMP) fits well with such tough market conditions and the CII remains the only professional body offering membership to mortgage brokers. This includes a requirement for continuous professional development as part of the behaviour expected from members of a professional body.

Despite the economic challenges, the SMP gained 800 new members last year, which is testament to the work being done in talking to regulators and government while promoting higher standards and professionalism – something that clearly chimes with those who believe mortgage advice should be delivered properly.

Looking forward, the SMP will be responding to the changing needs of the market, driven by the FSA’s mortgage market review, which aims to bolster the regulations governing the mortgage market, with greater supervision of firms in terms of business models, product charges and assessing mortgage affordability. Naturally, SMP input into the FSA’s consultation exercise has reflected the canvassed views of members.

In addition, the regulator has committed to reviewing the syllabus for the CII’s mortgage advisers’ qualification – CF6 Certificate in Mortgage Advice – within the next 12 months, a move that is welcomed wholeheartedly. And with the FSA expanding its definition of equity release to include commercial loans, the SMP is already discussing the requirement for an equity release qualification relevant to its newly broadened application.

In terms of responding to learning needs, the SMP’s existing e-learning package is currently under consultation, with a view to updating it in the coming months.

Ultimately, with public perception of people selling mortgages being negatively affected by the financial crisis, the challenge for the SMP is always to demonstrate how it is raising standards across the industry.

sMP2011 underwriting FaCulty board

Chair: David Williams (FCII) – claims and underwriting director, Axa (commercial)

neil Clutterbuck (ACII) – director, underwriting and technical, Allianz

mark Hynes (FCII) – products and governance director, Aviva UK

michael muzio (ACII) – underwriting and claims director, Towergate Partnership

paul bloxham (ACII) – underwriting director, Ecclesiastical

adam Clarke – underwriting director, Ageas Insurance

Jeremy Diston (ACII) – commercial underwriting manager, NFU Mutual

nick Hankin (ACII) – head of combined Europe commercial, Chartis Europe

Graham prior (FCII, Chartered insurer) – commercial lines underwriting director, Zurich Insurance

elspeth Hackett (dip CII) – head of personal lines underwriting, LV

alan Woof (FCII) – interim chief underwriting officer, Middle East, Zurich

Clive nathan (ACII) – chief executive officer, underwriting, Towergate Partnership

Roy Watkinson (FCII) – head of commercial, Ageas

2011 insuranCe broKing FaCulty board

Chair: lynn Richards-Cole – development director, Aon Risk Solutions

In-coming Chair: stuart Reid (Dip CII) – chief executive, Bluefin Group

eric Galbraith (ACII) – chief executive, British Insurance Brokers’ Association

John moore (ACII) – chief executive officer, Thomas Carroll Group

stephen lark (ACII) – managing director, Lark Group

matt Donnelly (ACII) – managing director, Griffiths & Armour

liz Foster – managing director, Ingram Hawkins & Nock

Jonathan Walker – chief executive, Towergate retail broking division

mark Crawford (FCII) – client development director, Aon

stephen James (FCII) – regional managing director, Northern Ireland, Oval James

The London Market Faculty Board was stood down in 2011 as part of a move to work more closely with relevant Insurance Institute of London (IIL) specialist committee members. This virtual board supported Faculty activity in 2011 including establishing the London Market New Generation Group and contributing to various trade magazine articles. The London Market Faculty also worked closely with other advisory bodies, including the London Market Education Group (made up of members of the LMA, IUA, LIIBA and market practitioners) and supported the IIL Lloyd’s lecture series.

london Market faculty Board

richard fox Chief Executive Officer - Society of Mortgage Professionals



A team of area marketing managers works across the UK to support the network of local institutes in enhancing the membership proposition. They are there to support those who give up their free time to manage their local institute and maintain the CII’s presence within the regions.

An increasing part of this support is an internet-based resource known as Network Know How. This online tool gives local institute council members a raft of information to help them in the day-to-day running of their institute, covering everything from how to organise the annual dinner through to running a local examination centre. It also allows institutes to share best value, ensuring good ideas are rolled out across the country.

Within Network Know How, a key section identifies technical speakers, known to the CII and the local institute network, who can be used to help create technical learning events that meet local members’ needs.

This makes the task of organising events much more time efficient for the local council members and ensures they can obtain the right calibre of speakers.

To help with communications, all local institutes now have access to a website and e-flyer tool, which has provided a more consistent approach and boosted attendance at events by up to 20%.

Running alongside these events is the CPD off the shelf programme, which was launched in 2010 and has continued to grow in strength. These events were developed to aid institutes having difficulty obtaining subjects and speakers to present for their members as part of their CPD requirements. Throughout 2011, off the shelf events have covered topics such as the Bribery Act, business continuity and ethics.

An effort to forge relationships between the local institute network and the Personal Finance Society regions started in 2011, with a number of events aimed at meeting retail distribution review gap fill requirements for members working in financial services. Plans are in place for the two parties to work even more closely together in 2012.

A number of institutes have improved their offering for younger members by developing young professional committees or networks, which give individuals new to the profession a voice. These groups have developed networking events allowing individuals to meet their peers in a more informal setting.

Once again, the CII Network Conference (pictured left) gave local institute council members the chance to network with fellow members. An important part of the one-day conference is to share best practice and seek transferable knowledge.

Volunteers giving their free time to make the local institutes such an important part of the CII have been recognised in the exceptional service awards, which were awarded to Jean and David McKinlay of the Blackburn and Burnley Institute, Philip Fry of the Bristol Institute, Trevor Burton of the Lincoln Institute, Elizabeth Coyle of the York Institute and Lynne Smith from Bedford and Milton Keynes.

Distinguished service medals were awarded to Derek Lamb of the Birmingham Institute, Scott Morton of the Glasgow Institute, Peter Moran of the Leeds Institute and Michael Hillier of the Southampton Institute.

local institutes

this makes the task of organising events much more time efficient for the local council members and ensures they can obtain the right calibre of speakers

Network Conference 2011

Amanda Blanc at the Manchester Insurance Institute’s Chartered Centenary conference


the forthcoming implementation of the retail distribution review meant 2011 was a momentous year for members, as individuals and firms worked towards compliance. achieving the new mandatory standards remains a priority for most and we have further extended our services and support network to help members reach these higher levels of professionalism.

as the leading professional organisation for financial advisers and related roles, the personal Finance society (pFs) is committed to equipping members with the tools to meet the challenges of RDR. In 2011 we invested considerable resources and introduced several key initiatives to better serve our growing membership.

supporting Chartered In line with the changing regulatory landscape that calls for increased professionalism, we witnessed a notable rise in Chartered status. During a 12-month period there was a growth of 24% in the number of Chartered financial planners to 2,792, while the number of Chartered firms at the end of 2011 stood at 362.

The regions were an important focus for Chartered activity and we expanded our reach through a range of events. Chartered business dinners provided an opportunity to connect with peers working in the sector and build prosperous relationships. Looking outside the sector, a considerable rise in Chartered Connections events presented more opportunities to engage with other professions such as accountancy and law, with the ultimate aim of driving parity of esteem and creating business prospects.

We were pleased to welcome 13 new Chartered Champions to PFS regions in 2011. The Chartered Champions play a significant role, acting as advocates for Chartered status in their regions, organising programmes of Chartered Connections events and raising public awareness through local media.

annual conference and awardsNovember’s annual conference in Birmingham took place under the banner of A wealth of opportunity in financial planning. A new format meant delegates were treated to an increased offering of 40 technical, business and motivational sessions. The most popular were repeated across multiple time slots to offer more choice and flexibility.

Technology came into its own at the conference: video and audio recordings meant that attendees could revisit and review sessions at a later date and it was the first time we saw a big social media response, with the hashtag #PFSconf being widely used on Twitter by delegates to co-ordinate conversations and share learning.

Overall, the conference received a phenomenal response – 750 delegates attended, of which 170 immediately signed up for the 2012 event. Details of the next conference, entitled Great Expectations, can be found at www.thepfs.org/conference

PersonalfinanCesoCiety

Chartered in numbers2,844 Chartered financial planners404 Chartered firms36 Chartered Champions51 Chartered events

Duncan Parkes, winner of the PFS’s Chartered Financial Planner of the Year award 2011



events calendarOur calendar of regional activity continued to grow in 2011 and we added several new events to our established and wide-ranging programme of activities.

Free regional conferences remained a constant force and thanks must go to the regional chairs and committees in helping with delivery. Members were able to choose from half-day sessions offering high quality continuing professional development or gap fill, with the latter focusing on the 12 most common areas to help transitional members plug their knowledge. More than 8,500 members attended gap fill events in 2011 and approximately 75% of all gaps are now covered online through video and audio recordings.

Looking beyond qualifications, adviser charging conferences proved popular as businesses looked to restructure in respect of RDR reforms. Events were held nationwide and sold out in only a few hours.

Also launching in 2011 were the Autumn roadshows. Held in Birmingham, Leeds, Edinburgh, Bristol and London, the aim was to make the PFS more accessible and better communicate the benefits that can be reaped from the professional body.

In addition to these events, the PFS has released three professional direction papers examining common areas of adviser misinterpretation including RDR qualifications, independent and restricted advice and FSA permissions.

Member research

Our annual survey of PFS members returned encouraging results. In terms of value for money, three quarters would rate membership as ‘good’ or ‘excellent’, up

from 51% on the previous year.Yet again, our increasing use of technology proved popular due to easy accessibility of

material. Results indicate that, of the resources offered, the ability to play back events was highly valued by members. Our online gap fill tool and regional conferences also rated favourably.

The ultimate goal of the RDR to raise standards is clearly taking effect, with those already at Level 4 striving to move beyond compliance. Of those questioned, 47% share the ultimate ambition of becoming Chartered. It is heartening to see so many members aiming for this gold standard designation

events in numbers78 regional conferences12 area conferences9 one-day technical conferences5 roadshows2 protection seminars108 gap fill events16 business transition workshops2 day life planning workshop1 rdr conference1 graduation ceremony with two sessions2 day annual conference1 day officers’ conference

2011 personal FinanCe soCiety Chartered award winners

Chartered financial planner of the year – Duncan parkes (FpFs), old mill

Chartered financial planners of the year – eldon Financial planning (Co Durham)

Highest achiever in the Diploma in Financial Planning award – paul de Vries (DippFs), oval Financial services

Highest achiever in the Advanced Diploma in Financial Planning award – mark Clinton (FpFs), Vision Independent solutions

Volunteer of the year – llewellyn Garner (aCII, apFs), lighthouse Financial advice

the CII’s governance structure, comprising the board, the executive, the Representative Council and the committee system, balances promoting efficiency and improvement in the practice of insurance with securing and justifying the confidence of the public. It also helps to meet the needs of the institute’s diverse membership.

The Board’s annual tasks start in January when it reviews last year’s financial and operational performance. It is during this meeting that the CII’s strategic plan, prepared by the executive management team, is also agreed. The consolidated accounts are signed off in March after the Audit Committee has recommended acceptance.

Member representatives are consulted in March, July and November, at the Representative Council meetings, on all developments at the CII. The Representative Council can suggest its own agenda and the CII’s senior officers and staff are present to answer questions and provide reports.

A key scheduled task for the Board is to keep the risk register under review. This is consolidated from departmental risk registers completed by the executive team and is regularly discussed and updated at the Directors’ Strategy Group. The Board receives two formal risk presentations from management during the year, with the Audit Committee providing oversight and detailed guidance.

The independently chaired Professional Standards Board has responsibility for operational oversight and making appropriate recommendations to the Board relating to professional standards and the disciplinary framework. Meeting in full committee, not less than four times a year, it also convenes specialist sub-groups to consider detailed advice and guidance on specific topics. An example is the group concerned with diversity action, which considers equal access opportunities between the institute and its membership.

Lawyers experienced in matters of professional regulation separately and independently chair the disciplinary and appeals system. Disciplinary hearings are held throughout the year and results are published in The Journal, Financial Solutions and on the CII website.

While the Board has overall responsibility for the professional activities of the institute, operational activity is partly overseen by the Qualifications, Examinations and Assessments Committee. This polices the CII’s examinations department to ensure compliance with the undertakings given to the external Office of Qualifications and Examinations Regulation.

The CII’s governance system is supported by members of the Institute and lay members from outside the profession, who give their free time to ensure the Board’s decisions and the executive’s actions are tested constructively and “justify and secure the confidence of the public” in accordance with the Royal Charter.

An independently chaired Nominations Committee oversees all committee appointments and ensures there is equality of opportunity for all potential committee applicants, covering areas including objectivity, transparency and merit.

It also has direct oversight of the appointment of committee chairs and is responsible for recommending to the Board the incoming Institute deputy president (and president designate). This appointment is then ratified at the members’ July general meeting.

Alongside the Nominations Committee is the Remuneration Committee, chaired by a member of the Board, which ensures the remuneration of all staff is benchmarked against the market to ensure it is appropriate, fair and not excessive.

The governance system, through careful management, removes as far as possible conflicts of interest and ensures that no one party or interest group has undue influence in decision making and strategic direction.

governanCe

the Cii’s governance system is supported by members of the institute and lay members from outside the profession




CII boardRole of the boardThe board is responsible for the overall management of the institute as well as approval of its long-term objectives including membership, educational and commercial strategy, annual operating and expenditure budgets. To carry out this role, the board delegates day-to-day responsibility to its chief executive and the executive management team.

Composition of CII board during the year• J James ACII, Chartered insurance broker

President and chair (2011/12) Appointed 2010• C Hanks ACII, Chartered insurer

Immediate past president (2011/12) Appointed 2009• B Smith

Immediate past president (2010/11) Appointed 2008. Retired July 2011• A Blanc ACII

Deputy president (2011/12) Appointed July 2011• C Brand ACII, Chartered insurance

practitioner Elected member Appointed 2007• S Fisher ACII, Chartered insurer

Employer member Appointed 2007• P Hubbard

Employer member• P Martin

Finance director Appointed 2007• A McDowall FCII, Chartered insurer

Council member Appointed July 2011• C. Munn (Prof) OBE

Lay member Appointed 2007• D Sales FCII, Chartered insurance broker

Elected member - Appointed Sept 2009• A. Scott (Dr)

Chief executive Appointed 2007• K Torrance FCII, Chartered insurance

practitioner Elected member Appointed 2008. Retired July 2011• J Wells

Lay member Appointed 2007• V Wilkinson Cert CII

Elected member Appointed Sept 2009

Immediate past president (2010/2011) Mr Smith retired from the board in July 2011 at the end of his three-year term.

Board /committee meetingsSix meetings were held during 2011 and the attendance records were as follows:January 2011 12 out of 13 members attendedMarch 2011 13 out of 13 members attendedMay 2011 13 out of 13 members attendedJuly 2011 13 out of 13 members attendedSeptember 2011 11 out of 13 members attendedDecember 2011 11 out of 13 members attended

Representative councilRole of the representative councilThe aims of the council include:• Ensuring that the CII maintains a proper

balance between promoting the Charter’s objectives and the individual needs of the CII’s diverse membership;• Acting as a forum for the two-way

dissemination of information between the Institute and its members;• Informing and influencing the strategic

management of the Institute on the views of the members.

Composition of the council during the yearThe 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 appoints 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 lay representatives (i.e. non members), whose role is to bring an independent view to the proceedings.

Appointments from the board• Chairman ex-officio to 20 July 2011, CII

president – C D Hanks, ACII, Chartered insurer (immediate past president from 20 July 2011)• Chairman ex-officio to 20 July 2011, CII

president – J T James, ACII, Chartered insurance broker (deputy president to 20 July 2011)• Deputy president – A Blanc, ACII, Chartered

insurance broker (appointed 20 July 2011)• Immediate past president – B Smith (to 20

July 2011)

vice presidents on council • Vice president

R J Anderson, FCII, FPFS, Chartered financial planner (retired 20 July 2011)• Vice president

R J Reid, ACII, APFS, Chartered financial planner

Chairmen of societies• President – Personal Finance Society

E S Grant, FPFS (retired 7 September 2011)• President – Personal Finance Society

J Everill Dip PFS (appointed 7 September 2011)

Past PresidentsA C Homer FCII, Chartered insurer

Committee chairman• Remuneration - P Hubbard• Audit - R O Hudson, FCII, Chartered insurer • Disciplinary - J L Neilson, FCII Chartered

insurance broker (retired September 2011) P Taylor (appointed September 2011)• Appeals - M Williams • Qualifications, examinations and

assessments - Dr P J Williams, FCII, FPFS, Chartered & assessments financial planner

lay representativeM SaundersAppointed 2008. Retired July 2011

elected institute representatives• Scotland A

R Morgan, ACII, Dip PFS, Chartered insurer • Scotland B

J A S Maguire, FCII, Chartered insurer (retired 20 July 2011)• Scotland B

M Noon, (appointed 20 July 2011)• Anglia A

B S Aldous, Cert CII • Anglia B

L M Francis, Dip CII• North East A

S Robertshaw, ACII, Chartered insurance



practitioner • North East B

N A Davey, Cert PFS, Cert CII (MP) • North East C

V A Wilkinson, Cert CII• North West A

A J Parkhurst, ACII, Chartered insurer • North West B

M G Cranny, FCII, Chartered insurer • North West C

D R J McKinlay, ACII, Chartered insurance broker • South Central A

S J Stoddart, ACII, Chartered insurer • South Central B

G D Williams, ACII, Chartered insurer (retired 20 July 2011)• South Central B

L A Powell, Dip CII (Claims), (appointed 20 July 2011)• South Coast & Channel Islands A

C A Brand, ACII, Chartered insurance practitioner • South Coast & Channel Islands B

T H S Wiseman, ACII (retired 20 July 2011)• South Coast & Channel Islands B

I E Fletcher, ACII, Chartered insurance broker (appointed 20 July 2011)• South Coast & Channel Islands C

Vacant• East Midlands

K B Torrance, FCII, Chartered insurance practitioner (retired 20 July 2011)• East Midlands

G A M Scott, ACII, Chartered insurance broker (appointed 20 July 2011)• West Midlands

J Evans, ACII, Dip PFS, Chartered insurance broker • South West & South Wales A

L K Clarke, Dip CII • South West & South Wales B

S M Riches, ACII, Chartered insurer• South West & South Wales C

J M Hancock, ACII, Chartered insurance broker • Northern Ireland

P J McIlreavy, ACII, Chartered insurance broker • London A

A B K McDowall, FCII, Chartered insurer • London B

N P G Salisbury, FCII, Chartered insurance practitioner • London C

D J Sales, FCII, Chartered insurance broker Associated G Doherty (retired 20 July 2011)

Members elected by national membership representatives• FCII

C A Smith, FCII, Chartered insurer • ACII

C P Leahy, now FCII, Chartered insurance practitioner (retired March 2011)• Cert CII

P Eshun, Cert CII

Council meetingsThree meetings were held in the year with the attendance records as follows:March 2011 28 out of 41 members attendedJuly 2011 29 out of 41 members attendedDecember 2011 29 out of 41 members attended

Audit committeeRole 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 CII has sound internal financial control systems and systems for the control of non-financial risks.

Composition of Audit Committee during the year• R O Hudson FCII, MBA, BSc(Econ),

Chartered insurer - Chair Appointed 2010• J M Jarrett FCII,

Chartered insurance practitioner Member (Cheltenham & Gloucester) Appointed 2004, Retired March 2011• B E Killick ACII, B Com, CA (NZ), MInstD,

Chartered insurance practitioner Member (New Zealand) Appointed 2006• C W Munn (Prof) OBE, FCIB

Lay member Appointed November 2011• R Whitehouse FCII, B.Soc Sc., FCMI,

Chartered insurer Member (London) Appointed 2006• P Howard FCII, MBA, FIRM,

Chartered insurer

Member (London) Appointed 2007• A. Leslie ACII, BSc, MIEE, CEng,

Chartered insurer Member (London) Appointed 2009

Committee MeetingsThree meetings were held during 2011 and the attendance was as follows:March 2011 Six out of six members attended**July 2011 Four out of five members attended**november 2011 Five out of six members attended**** Mr Killick attended these meetings via teleconference as he is based in New Zealand.

Professional standards board Role 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; and• To promote professionalism and the

adoption of high standards within the industry, with government, with regulators and, most importantly, to consumers.

Composition of PSB during the year• D McIntosh QC (Hon)

Independent non-exec chair Appointed 2006/7• J Bush ACII, Chartered insurance broker

Wholesale market representative Appointed 2009/10• E Grant FPFS, Chartered financial planner

Financial services representative Co-opted Nov 2011• A King

Loss adjusting representative Appointed 2003/4 Retired January 2011• S Locke


Consumer interest representative Appointed 2005/6 Retired September 2011• T McGrath CBE, FCII, Chartered insurance

broker Regional broking representative Appointed 2009/10• J Morris

Regulatory representative Appointed Sept 2011• N Mullany

Consumer interest representative Appointed 2007/8• J Navare FCII, Chartered insurance

practitioner Academic representative Appointed 2006/7• A W Scott

Chief executive officer ex-officio Appointed 2000/1• D Thomson

Chief executive officer’s nominee Appointed 2007/8• J Wells

Professionalism & standards representative Co-opted Nov 2011

Committee meetingsFour meetings were held during 2011 with the attendance records as follows:Jan 2011 Seven out of eight members attendedApril 2011 Six out of eight members attendedSeptember 2011 Five out of eight members attendednovember 2011 Eight out of 10 members attended

Professional standards board (PSB) diversity action groupRole of the PSB diversity action groupThe PSB diversity action group is a sub-group of the professional standards board. Its role is:• To raise awareness of diversity issues among

CII members, committees, management and staff;• To consider how the CII can become a more

inclusive professional organisation;

• To develop appropriate diversity policy and actions for implementation by the CII;• To monitor and review the CII diversity

actions to ensure implementation and to maintain relevance and effectiveness;• To communicate the diversity policy to CII

members, committees, management and staff;• To encourage the highest possible level of

compliance; and• To advise and be consulted on the CII

diversity policy.

Composition of diversity action group during the year• A Darling FCII

Chair (till July 2011) Appointed 2005. Retired July 2011• L Coyle ACII, FPFS, Chartered insurer

Chair - Appointed July 2011• S Wilkinson FCII, APFS

Vice chair (till 2011) Appointed 2005 Retired July 2011• J Amory

Lay member - Appointed 2009• D Bailey

Lay member Appointed 2009 Resigned July 2011• N Butt ACII

Member - Appointed 2009• V Chinn

Lay member - Appointed October 2011• B Desai

Member - Appointed October 2011• P Gupta FCII

Member - Appointed 2009• M Maddocks ACII

Member - Appointed 2009• S Natha

Lay member - Appointed 2009• K Rose FCII, Chartered insurance practitioner

Member - Appointed 2005. Retired July 2011• D Teague ACII, Dip PFS, Cert CII (MP),

Chartered insurance practitioner Member - Appointed October 2011

Committee meetingsFour meetings were held during 2011 with the attendance records as follows:March 2011Seven out of 10 members attendedJune 2011 Six out of 10 members attended

October 2011 Seven out of 10 members attended

Qualifications, examinations and assessments committeeRole of the qualifications, examinations and assessments committee (QEAC)The main purpose of the QEAC is to ensure that candidates are treated fairly through application of the CII’s qualifications, examinations and assessments quality assurance processes. It also looks at how those processes can be refined and improved. Through doing this, the QEAC ensures that the CII both maintains its professional standards and integrity and also complies with the requirements of its regulator, Ofqual, which is now an independent regulator reporting directly to parliament.

Composition of Committee during the year• P Williams (Dr) FCII, FPFS, DProf, BA (Hons),

DipM, MCIM, Cert T.Ed, Chartered financial planner Chair - Appointed 2008• J Robson (Dr) ACII, PhD, BA (Hons), MCIM

Vice chair - Appointed 2008• J Barron ACII, Chartered insurance broker

General insurance representative Appointed 2010• G Bottriell FPFS, FGS, Chartered financial

planner Financial services representative Appointed 2008• P Bowen APFS, Chartered financial planner

Financial services representative Appointed 2008• P Davis ACII, BA (Hons), Chartered insurance

broker General insurance representative Appointed 2010• M Hawtin FCII, Chartered insurer

General insurance representative Appointed 2008• G Kenney-Wallace (Dr)

Academic representative Appointed 2008• I S Morton FCII, FPFS, Chartered financial

planner



Financial services representative Appointed 2008• P Ring (Dr) PhD, MSc, LLB, BA (Hons), Dip

LP, FHEA Academic representative Appointed 2008• C J Williams ACII, MA, MIRM, Chartered

insurance practitioner Academic representative Appointed 2008

Committee meetingsThree meetings were held during 2011 with the attendance records as follows:January 2011 11 out of 11 members attendedMay 2011Seven out of 11 members attendedSeptember 2011Seven out of 11 members attended

Disciplinary committeeRole of the disciplinary committeeThe role of the disciplinary committee is to:• Consider any complaints made against CII

members in accordance with the disciplinary regulations, rules and procedures;• To oversee the process by which individuals

that fail to produce continuous professional development records on request are disciplined;• Appoint a panel from within the committee

membership to hear the complaint;• 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, people with criminal convictions, IVAs and previous disciplinary complaints.

Composition of 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.• J L Neilson FCII, Chartered insurance broker

Chair Appointed 2002. Retired 2011• P Taylor, solicitor

Chair, lay & legally qualified member

Appointed Sept 2011• S E Cockerill QC, barrister

CII member & legally qualified Appointed 2009• A Darling FCII, Chartered insurance

practitioner CII member - Appointed 2009• J Ferguson OBE, FRPharmS, FPS (NZ)

Lay member Appointed 2002. Retired 2011• E Goddard

Lay member Appointed 2002. Retired 2011• T Jones

Lay & legally qualified member Appointed 2011• S Kearney LLB (Hons), solicitor

CII member & legally qualified Appointed 2010• K Matlin ACII Chartered insurer

CII member - Appointed 2011• S McGregor JP FIMI

Lay member Appointed 2004• N McNair

Lay member - Appointed 2003• B Neaves BA (Hons), FCCA

Lay member - Appointed 2011• R Rennison FCII, FPMI, FPFS, CFP, Chartered

financial planner PFS member - Appointed 2010• E R D Scott ACII, Chartered insurance

practitioner CII member Appointed 2002.Retired 2011• J Staniforth FCII Chartered insurance broker

CII member - Appointed 2011• K J Watson ACII, FCILA, Chartered insurance

practitioner CII member - Appointed 2003• R A Weald FCII, Chartered insurer

CII member Appointed 2002. Retired 2011

Committee MeetingsThree meetings were held during 2011 and the attendance records are as follows:February 2011Nine out of 12 members attendedJune 2011Eight out of 12 members attendedOctober 2011 Nine out of 12 members attended

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 2010;• Appoint a panel from within the committee

membership to hear the appeal;• Act as the disciplinary committee’s review

and oversight body.

Composition of 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.• M Williams FRSM, barrister

Chair, lay & legally qualified Appointed 2008• D Azubike JP, PhD, BSc, DIC, MIMMM, C. Eng,

CMIOSH Lay member - Appointed 2005• L Clark

PFS & legally qualified member Appointed 2011• C Depel FCII, Cert PFS, CPCU, LLM & JD,

solicitor, US lawyer Legally qualified member Appointed 2010• E Haggis ACII, solicitor, FPMI, Chartered

insurance practitioner Legally qualified member Appointed 2002. Retired 2011• V Isaac LLB

Lay member Appointed 2011• P Hewitt FCII, LLB, Chartered insurer

CII member Appointed 2002.Retired 2011• P Jaffe FCII, FCIArb, solicitor, attorney at law,

Chartered insurer Legally qualified member Appointed 2002.Retired 2011• S James FCII CPCU

CII member Appointed 2011• H Mawdsley OBE, JP, DL

Lay member Appointed 2008• M McDougall ACII, MA Cantab, barrister at

law, Chartered insurance practitioner Legally qualified member


Appointed 2010• J L Neilson FCII, Chartered insurance broker

CII member - Appointed 2011• P Taylor, solicitor

Lay and legally qualified member Appointed 2008. Retired 2011• C J Tilson ACII, MBA, LLB

CII member - Appointed 2009• R A Weald FCII, Chartered insurer

CII member - Appointed 2011• M T Wehrly JD, MPM

Lay member - Appointed 2009

Committee meetingsNo meetings of the appeal committee were held in 2011.

Nominations committeeRole of the nominations committeeThe 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 its 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 the chairmanship of the various boards and 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 nominations committee during the year• R Jordan

Independent non-exec chair Appointed 2007• C Hanks ACII, Chartered insurer

President (2010/2011) Appointed 2009. Retired 2011• J James ACII, Chartered insurance broker

President (2011/12) Appointed 2010

• A Blanc ACII, Chartered insurance broker Deputy president (2011/12) Appointed 2011• D Sales FCII, Chartered insurance broker

Constituency member Appointed 2009

Committee MeetingsFour meetings were held during 2011 with the attendance records as follows:January 2011Four out of four members attendedMay 2011Four out of four members attendedSeptember 2011Three out of four members attendednovember 2011 Four out of four members attended

Remunerations committeeRole of the remunerations committeeThe role of the remunerations committee is to determine the remuneration packages, including payment procedures and benefits of any kind to the chief executive and staff of the CII.

Composition of remunerations committee during the year• P Hubbard

Chair - Appointed 2007• C Hanks ACII, Chartered insurer

President (2010/2011) Appointed 2009. Retired 2011• J James ACII, Chartered insurance broker

President (2011/12) Deputy president (2010/11) Appointed 2010• A Blanc ACII, Chartered insurance broker

Deputy president (2011/12) Appointed 2011

Committee MeetingsTwo meetings were held during 2011 and the attendance records were as follows:September 2011 Two out of three members attendednovember 2011 Three out of three members attended

Personal Finance Society (PFS) board Role of the PFS boardThe board’s role is to provide entrepreneurial leadership to the PFS within the CII’s framework of prudent and effective controls, which enables risk to be assessed and managed. The board sets the PFS’s strategic aims, ensures that the necessary financial and human resources are in place for the PFS’s values and standards and ensures that its obligations to stakeholders are understood and met.

Composition of committee during the year• E S Grant FPFS, Dip CII, Chartered financial

planner, BA (Hons), FinstSMM President (until sept 2011) Immediate past president (from sept 2011) Appointed 2008• J Everill Dip PFS

President (from sept 2011) Vice president (until sept 2011) Appointed 2009• M Fosberry Dip PFS, Chartered FCSI

Immediate past president (until sept 2011) Appointed 2007. Retired Sept 2011• G Hale Dip CII, Dip PFS

Vice president (from sept 2010) Appointed 2009• D Ingram ACII, Cert PFS

Vice president (from sept 2011) Appointed 2010• F Goddard

PFS chief executive officer Appointed 2008• P Lothian ACII, APFS

Member nominated director Appointed 2006 Retired Sept 2011• P Martin

CII finance director Appointed 2004• B O’Ciobhian APFS

Member nominated director Appointed 2010• T Perchard

Lay director Appointed 2009• A W Scott

CII chief executive officer Appointed 2004• D Thomas APFS, FCIB, BA



Chartered financial planner Member nominated director Appointed Sept 2011• D Thomson

CII director of policy & public affairs Appointed 2007• N Turner APFS

Member nominated director Appointed Sept 2011

Board MeetingsSeven meetings were held in 2011 with the attendance records as follows:January 2011 12 out of 12 directors attendedMarch 2011 10 out of 12 directors attendedMay 2011 9 out of 12 directors attended July 20119 out of 12 directors attendedSeptember 2011 10 out of 12 directors attendednovember 2011 11 out of 12 directors attended

CII AnnuAl RevIew 2011 - The Chartered Insurance · PDF file26 CII AnnuAl RevIew 2011 ......

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