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Chartered Insurance Institute
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Designed in consultation with London Market practitioners, the CII Level 3 Award in London Market Insurance provides an essential grounding for new entrants to the market, or those who have dealings with it.  The Award provides a broad understanding of insurance process and practice across the London market as well as detailed understanding of technical topics.

Read the Award in London Market Insurance specification

Who it's for

  • Employees of London Market insurers and reinsurers;
  • Employees of broking firms placing business in the London Market;
  • Lloyd's managing agents and Lloyd's members' agents;
  • Coverholders anywhere in the world whose business is underwritten in London; and
  • Professional service organisations such as lawyers, accountants, actuaries and loss adjusters. 

Completion requirements

The Award comprises two compulsory unit from the CII insurance qualifications framework, providing a total of 25 credits upon successful completion.  

  • (LM1) London market insurance essentials; (10 credits) and
  • (LM2) London market insurance principles and practices (15 credits).

See the ‘Key information’ overlay to the right of this page for full details.

Limitations to gaining credits for LM1 and LM2

Due to the extent of syllabus overlap, if you already hold existing Lloyd's and London Market qualifications or withdrawn CII exam units you may not be able to gain further credits by sitting LM1 and/or LM2. Candidates may still choose to sit LM1 and/or LM2 in these circumstances, either to update their knowledge in this area, or in order to achieve the Award in London Market Insurance.

Pdf icon small Find out more about recognition of London Market qualifications in the CII framework here.

Learning Support

A range of study materials are available, including: study texts, revision aids, ebooks and key fact booklets. For full unit availability, click the unit links to the right of this page.

Key information

Key facts for the Award in London Market Insurance

What does this qualification involve?

The Award comprises two compulsory units from the CII insurance qualifications framework, providing a total of 25 credits upon successful completion.

Candidates are required to take the following compulsory units:

  • (LM1) London market insurance essentials
  • (LM2) London market insurance principles and practices

For unit syllabuses, return to the Award in London market insurance page, and click on the ‘Syllabuses’ link to the right of the page.

Overview of Award-level units:

Unit

Assessment format

Study hours

Credits awarded

 

 

 

 

(LM1) London market insurance essentials

·         1 hour exam

·         50 multiple choice questions

·         70% nominal pass mark

40

10

(LM2) London market insurance principles and practices

 

·         2 hour exam

·         55 multiple choice questions and 4 case studies comprising 5 multiple choice questions

·         70% nominal pass mark

60

15 

Find out more about assessment methods, including exam policies and centres »

Units treated as equivalent

Due to the extent of syllabus overlap, certain combinations of current and withdrawn CII units will result in only one award of credits. 

If a withdrawn equivalent is held you may not need to complete a current unit in order to satisfy a qualification's completion rules. Clarification should always be sought from CII Customer Service. 

Find out more about credit awards for equivalent units »

Syllabuses

London Market Education Group (LMEG)

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 Gooding

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 Cooper

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 Warr

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 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 Hobbs

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.

Assessment information

It is important that candidates entering for a CII assessment familiarise themselves with our service, in particular the rules and procedures that are in place.

Syllabuses

LM1 London market insurance essentials

This unit provides an essential grounding in the workings of the London insurance market and is ideal for anyone starting their career in this area. It can serve as a standalone learning programme for anyone in a support function such as HR or finance, or it can be the first stage of a more in-depth learning pathway for those employed in a more technical role. 

This unit is worth 10 credits at Certificate in Insurance level in the CII qualification framework.

Read about updates that will affect Certificate in Insurance units »

LM2 London market insurance principles and practices

This unit provides a broader understanding of insurance process and practice across the London market.

Read about updates that will affect Certificate in Insurance units »