Key facts for the Award in London Market Insurance

Notes:

1. Continuing Professional Development and Code of Ethics requirements apply.

Entry requirements

There are no entry requirements to study for the Award.

Completion requirements

To achieve the Award in London Market Insurance you need to pass both (LM1) London market insurance essentials and (LM2) London market insurance principles and practices.

There is no prescribed order in which units must be taken, but it is recommended that you sit LM1 first to cover the essentials, followed by LM2 to build on your learning.

Notes: The recommended minimum study hours are shown in the table above (this will vary according to your experience and ability). The nominal pass marks are also shown. However, the actual pass marks may vary slightly from one session to another to ensure that the pass standard remains constant. You may sit as many exams as desired at a single sitting.

Enrolment on either LM1 or LM2 includes the study text, access to RevisionMate and one exam entry. You can either select the date you want to sit the exam at the time of enrolling, or sit at any time in the following year.

Entering for an online exam

We recommend booking at least six weeks in advance to give the best chance of getting your preferred exam date and venue.

Within the UK both LM1 and LM2 are available to sit at over 60 centres. Dedicated exam sessions for LM1 and LM2 are also availabe to corporate clients at the CII's Face-to-Face Training centre in Fenchurch Street, London, twice weekly.

Paper-based exams

Outside the UK, both exams are available to sit as paper-based exams held in April and October each year. This is offered at over 100 exam centres worldwide.

Syllabuses and free exam guides for LM1 and LM2

LM1 Syllabus 2012-2013

 LM1 Syllabus 2013-2014

LM2 Syllabus 2012-2013

 LM2 Syllabus 2013-2014

The syllabus for these, and other CII units, will be updated during 2013.
Read about updates that will affect Certificate in Insurance units »

  To help you prepare for the LM1 examination the 2012/13 exam guide is available to download for free here

  To help you prepare for the LM2 examination the 2012/13 exam guide is available to download for free here

Applications for examination entry can be accepted up to seven working days before the day of the examination you wish to sit or typically up to three months in advance.

Changes to examination entry or cancellation of examination entry can be accepted if received, at least 21 days before the date of the exam for which you have entered.

• Cancellations received at least 21 days before - 50% refund
• Changes to entry received at least 21 days before - £41.00 administration fee required

Absence from an exam due to illness - written application, with medical evidence, may be made for either a 50% refund of the original entry fee or for your entry to be transferred. Application is to be received within two months of the date of the original exam.

The LM1 and LM2 Examination Guides for exams from 1 January 2012 to 31 August 2013 was first published in October 2011. Any questions which have been amended since the examination guide was first published will appear below.

These updates are Learning Solutions updates for study purposes.

LM1: October 2011 edition

October 2011 edition change details

Changes to 2010-11 study text: 2012 updates

LM1_2011-12_Web_update_01_18-12-2012

LM2: October 2011 edition

October 2011 edition change details

Changes to 2010-11 study text: 2012 updates

LM2_Oct_11_web_update_1_12-06-12.pdf

LM2_2011-12_Web_update_02_18-12-2012

 
View the latest information on:

Current editions

Testing Position

• Examinations are based on the published syllabus. Syllabuses are available free of charge on the CII website www.cii.co.uk or on request.
• Candidates will be examined on the basis of law and practice in England unless otherwise stated.
• The LM1 examination consists of 50 multiple choice questions (MCQs). 1 hour is allowed for this examination.
• The LM2 examination consists of 55 multiple choice questions (MCQs) and 5 case studies, each comprising 4 MCQs. 2 hours are allowed for this examination.
• The general rule is that legislative and industry changes will not be examined earlier than 3 months after they come into effect.
• Candidates must keep up to date with legislative and industry changes that occur

The London market Education Group (LMEG) advises the CII on the quality and relevance of its learning provision for all sectors and disciplines within the London market. It is made up of highly experienced practitioners and specialists who have deep knowledge of training and development programmes tailored for the London market.

The group meets four times a year, ensuring that the CII's London market provision, including the Award in London Market Insurance, continues to meet the needs of those who work in or with this vitally important sector of the insurance business.

Nick Gooding FCII (Chair)

Nick has just completed 39 years in the London insurance market. The majority of his career has been spent in underwriting marine cargo insurance at Lloyd's. He is currently Senior Cargo Underwriter at XL London Market Ltd having previously held similar positions at Sturge and Wellington syndicates.

He has been involved in London market training initiatives for over 20 years.

 
Alison Cooper FCII Dip PFS

Alison is an independent training specialist, running her own successful consultancy ACT One Training Services for the past 10 years.

Alison has over 20 years insurance experience, working in the City of London, having started her career with Phoenix Assurance. ACT One develops and delivers insurance courses for both the general insurance and financial planning sectors and operates on the basis that learning can be fun! Alison is currently chair of the CII Learning Development Forum and as a Chartered Insurance Practitioner, has recently achieved CII Accredited Trainer status.

Charlotte Warr Solicitor, ACII, Chartered Insurer, Associate of the AAA

Charlotte has been in the London market for 24 years, handling claims across a variety of classes of business for both companies and Lloyd's syndicates. 

She is now a full time trainer and consultant and teaches clients from all parts of the market both in the UK and internationally on a number of topics including technical training on various classes of business and also market processes and systems. Charlotte is a solicitor and also a Chartered Insurer.

Geraldine Wright

Geraldine is a barrister and has worked for the London and International Insurance Brokers Association (LIIBA) in its various forms for 25 years. 

She is responsible for the LIIBA's Education and Training Committee and sits on the joint London market committees responsible for Marine Education (MIEC) and Reinsurance Education (RITEC).

John Hobbs FMS, MCIPD, MCMI

John has worked in the London market since 1976 in various operational and project management roles, including 11 years as an HR and training specialist with a Lloyd's managing agency and a Lloyd's broker.

He is currently Director of Market Services at the International Underwriting Association, where his responsibilities include educational and training initiatives in conjunction with member companies and various London market educational bodies.

Terry Hayday BA, MBA, FCII

Terry has worked in the Lloyd's and London market since 1965 as both a broker and underwriter.

He is currently Head of Professional Standards at the Lloyd's Market Association, Non-executive Chairman of Antares Managing Agency and Managing Director of Optimum Consultants, which specialises in USA study tours. He was formerly Active Underwriter of Lloyd's Syndicate 694, managed by Holmes, Hayday Underwriting Agencies which was acquired by Sturge PLC, before helping to form the Owen & Wilby Underwriting Agency at Lloyd's prior to its acquisition by the Gerling Group. Terry has received a CII Distinguished Service Medal and the President's Award from the Insurance Institute of London, of which he is a Council Member.