Applying for Chartered Insurance Brokers status
There are three principal requirements to meet:
- meet the definition of an organisation carrying on business as an insurance broker
- satisfy the eligibility criteria required of a Chartered firm both at application and on an ongoing basis
- pay an annual fee.
In addition to the eligibility criteria detailed below, there are general conditions which must be met by all applying entities, one of which is that to be considered for corporate Chartered status evidence of three years pre-application trading is required.
The eligibility criteria cover a range of factors recognised as evidence of a commitment to professionalism. Six compulsory criteria must be met in full and a range of discretionary criteria makes up the remainder.
These six criteria must be met:
- A minimum of one of the firm's board* members must personally hold the CII Chartered Insurance Broker title.
- One of the firm's board* (who must personally hold the Chartered Insurance Broker title), must take on the role of Responsible Member. This person is the principal point of contact on Chartered status with the responsibility for the application, renewal and for any related issues at any stage.
- The entire board*, together with a minimum of 90% of customer-facing staff, must be members of the CII.
- Access to a Chartered Insurance Broker must be available to customers.
- The firm must have in place core values and business practices that align with the CII Code of Ethics.
- The firm must have an appropriate professional development programme in place.
The discretionary criteria works on a points basis, with a minimum of 50 points overall required.
|Percentage of board* individually holding the Chartered Insurance Broker title (subject to the specified requirements Chartered titles from other awarding bodies will be recognised)
|Percentage of board* individually holding the CII Diploma in Insurance
|Percentage of customer-facing staff individually holding the Chartered Insurance Broker title
|Percentage of customer-facing staff individually holding the CII Diploma in Insurance
|Percentage of customer-facing staff individually holding the CII Certificate in Insurance
|Potential recognition of additional rationale to support the Chartered application detailing relevant processes which are not already included in the criteria above. Typically this would include the attainment of objectively assessed awards such as Investors in People or appropriate ISO or BSI certification or the operation of a government approved apprenticeship programme. The provision of these discretionary points is subject to such awards or certification being current when applying for or renewing CCS.
*or Appropriate Management Team - where the principal business of an entity is not insurance and an unincorporated specialist division has been created for the purpose of managing this part of the business, the CII may at its sole discretion recognise a suitably qualified member of the Appropriate Management Team as complying with this provision.
Please note: Applications for corporate Chartered status will no longer be accepted from applicants who fall within the following categories:
- Sole traders
- Limited liability companies which have one director only
- Limited liability companies which have one or more corporate directors
- Limited liability partnerships which have one or more corporate members
- Firms which have one or more corporate partners
Fees for corporate Chartered status
The fees reflect the costs to the CII in administering, monitoring and enforcing the Chartered scheme. Fees are payable annually (once your application has been approved and we will confirm the fee that applies) and again on annual renewal.
|Number of staff employed
|Up to 10
Further information and how to apply
Click 'Apply now' and/or the other links to the right for full details on the criteria and benefits of corporate Chartered status.