BII launches new local insurance qualification
qualification which is specifically tailored to meet the needs of Bermuda's insurance industry.
Four people yesterday became the latest certified members of the Bermuda Insurance Institute (CBII), bringing to six the total number of recipients since the designation was introduced last year.
Mr. Ian Linnegan, the BII's director, is keen to increase the awareness of CBII among local employers and employees alike.
He said other professional designations, such as the US-based Chartered Property Casualty Underwriters (CPCU) and the Associate member of the Chartered Insurance Institute (ACII), of the UK, often contained many areas irrelevant to Bermuda.
"They are professional designations geared towards their own country but not exactly appropriate to Bermuda's needs,'' said Mr. Linnegan.
"Even if a person has a professional qualification off the Island, it does not mean to say they will be able to come to Bermuda and do the sort of job required here.
"In my role as director of the BII, I must prepare Bermudians to work in the insurance industry and get them up to full speed as fast as possible. That is why we have brought in the CBII.'' Whereas it usually takes almost five years to qualify for CPCU or ACII, it should not take as long to qualify for CBII.
The CPCU and ACII are both ten part examinations but the CBII comprises only seven parts.
"The Certified member of the Bermuda Insurance Institute will be awarded by the BII Executive to candidates who complete a seven part examination programme,'' said Mr. Linnegan.
"This will consist of the three subjects from the Bermuda Insurance Diploma plus four other CII examination subjects.
"Two of the four CII examination subjects must be Risk Management and Principles of Reinsurance.'' AWARD WINNERS -- The Bermuda Insurance Institute yesterday made awards to (l-r), back, Mr. Vincent Hogan (CBII), Mrs. Margaret Weale (ARM), Mr. Mike Douglas (CBII) and, front, Miss Karen Walmsley (ACII), Mr. Leon Bascome (CBII) and Mrs. Rochelle Simmons (CBII). Others not pictured who picked up awards were Mr. William Robertson (CBII), Ms Madeline Joel (ACII) Ms Ann McSherry (ACII) and Ms Christine John (ACII).