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Chartered Insurance Institute
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Building knowledge, developing core competence

The Certificate in London Market Insurance is a specialised qualification for those working in or conducting business through the London Market.

Building on introductory knowledge gained from the Award in London Market Insurance, the CII Level 3 Certificate in London Market Insurance includes the addition of compulsory unit (LM3) London market underwriting principles. The Certificate develops knowledge and understanding of the underwriting disciplines within the London Market, key elements of the cycle, and explores the opportunities and challenges posed by using different distribution channels such as delegated underwriting.

Read the Certificate in London Market Insurance specification

Who it's for?

  • Anyone holding the CII Award in London Market Insurance
  • Employees of Lloyd’s syndicates, brokers, managing agents or members’ agents in an administrative, operational or other support role; e.g. business development managers, underwriting technicians or business analysts

Completion requirements

The Certificate comprises three compulsory units from the CII insurance qualifications framework, providing a total of 40 credits upon successful completion. 

  • (LM1) London market insurance essentials;
  • (LM2) London market insurance principles and practices; and
  • (LM3) London market underwriting principles.

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

Members are also entitled to use the designation Cert CII (London Market), subject to membership and Continuing Professional Development (CPD) requirements.

Before embarking study, check to see whether any of your previous academic qualifications or credits from other professional bodies and institutes can be carried towards completion of the Certificate. Find out more about recognition of prior learning »

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 Certificate in London Market Insurance

 

What does this qualification involve?

The Certificate in London Market Insurance comprises three compulsory units, providing a total of 40 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
  • (LM3) London market underwriting principles

There is no prescribed order in which units must be taken, but it is strongly recommended that you sit LM1 first followed by LM2 and LM3.

For unit syllabuses, return to the Certificate in London Market Insurance landing page, and click on the ‘Syllabuses’ link to the right of the page.

Overview of Certificate-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

·         70% nominal pass mark

60

15

(LM3) London market underwriting principles

·         2 hour exam

·         75 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 »

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 and the Certificate in London Market, 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.

Insurance qualifications framework enhancements

Following the latest review of the CII insurance qualifications framework, a range of enhancements are being introduced that will take effect between now and 2018.

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 »

LM3 London market underwriting

This unit enables a student to build on introductory knowledge of the London Market (typically from studying units LM1 and LM2) by developing knowledge and understanding of:

  • the underwriting disciplines within the London market;
  • key elements of the cycle, including business planning and obtaining capacity, pricing and the importance of putting together a contract which is both clear and certain;
  • the opportunities and challenges posed by using different distribution channels such as delegated underwriting.