New faculty marks step forward for broking

The CII's Faculty of Insurance Broking is a "huge step forward in the credibility of the whole insurance market", chairman David Slade said. Speaking at the launch of the faculty during the CII conference in Birmingham, Slade said the aim of the faculty was to "develop and raise standards in professional conduct for all those working in insurance broking".Slade set out five key challenges that the faculty would face. He said it would:

Define what is meant by "fit for purpose"

Support brokers in becoming and remaining "fit for purpose"

Create best practice standards and benchmarks for the broking industry

Attract, develop, and retain the best talent within the broker market

Establish a centre for excellence for individuals involved in broking.

Membership of the faculty will be open to all CII members involved in the intermediary market, said Slade, including those based abroad.The faculty has set an initial application fee of £50, although this will be waived for CII and individual Biba members for the first two years. An annual membership fee of £10 will be payable for each individual member.Members will be able to take advantage of discounted continued professional development training courses, guidance notes and national forums.New CII president Bob Beckett warned that the faculty represented a one-off opportunity for self regulation, otherwise the broker market would face increased regulation and litigation in the coming years.

The faculty boardDavid Slade, Perkins Slade, chairmanBob Beckett, CII presidentPaul Meehan, Smart & Cook Alec Finch, Alec Finch & Co Mark Radburn, Willis Commercial Network Lynn Richards-Cole, Stanford & WoodEric Galbraith, Biba Andy Homer, Folgate PartnershipSteven James, Bartholomew & JamesJohn Moore, Thomas Carroll Sandy Dunn, BDML