Eligibility criteria - Insurers, insurance brokers and insurance underwriting agents
Principal requirements
To be eligible to apply for Chartered Insurer/Insurance Broker/Chartered Insurance Underwriting Agents status, your business must meet the definition of an insurance company/insurance broker/insurance underwriting agent.
You must also satisfy the eligibility criteria detailed below, at application stage and on an ongoing basis. There is an annual fee to be paid by all Chartered firms to maintain their Chartered title.
Fixed criteria
These criteria must be met:
- A minimum of one of the firm’s board* members must hold the individual Chartered Insurer, Chartered Insurance Broker or Chartered Insurance Underwriting Agent title (whichever corresponds to the corporate title being sought).
- One of the firm’s board* members, who satisfies the criteria above must take on the role of Responsible Member. The Responsible Member is the firm’s principal point of contact regarding their Chartered status, and is responsible for the application and renewal stages, along with any related issues. The CII may, at its sole discretion, allow a Responsible Member of a large firm** to hold a comparable Chartered title. In all cases, the Responsible Member must be a CII member.
- The entirety of the firm’s board*, together with 90% of customer facing staff, must be members of the CII.
- Access to a Chartered Insurer/Chartered Insurance Broker must be available to customers (this does not apply to applicants of the Chartered Insurance Underwriting Agents title).
- Evidence of three years pre-application trading as an authorised and regulated business is required of all firms.
- Firms must have in place a core values & business practices statement, and a diversity and inclusion policy that align with the CII Code of Ethics
- Firms must have an appropriate professional development programme in place.
Variable criteria
The variable criteria work on a points basis, with a minimum of 50 points required.
| Percentage of board* that individually hold the Chartered Insurer, Chartered Insurance Broker or Chartered Insurance Underwriting Agent title. Subject to the specified requirements, Chartered titles from comparable awarding bodies will be recognised. |
25-50 |
|
Percentage of board* that individually hold the CII Diploma in Insurance. |
10-15 |
|
Percentage of customer-facing staff that individually hold the Chartered Insurer, Chartered Insurance Broker or Chartered Insurance Underwriting Agent title. |
10-30 |
|
Percentage of customer-facing staff that individually hold the CII Diploma in Insurance. |
10-30 |
|
Percentage of customer-facing staff that individually hold the CII Certificate in Insurance. |
5-15 |
|
An additional rationale to support the firm’s application detailing relevant processes that are not already included in the criteria above. Typically, attainment of objectively assessed awards such as Investors in People or appropriate ISO or BSO certification, or the operation of a government-approved apprenticeship programme. Awards and certifications must be current when applying for or renewing Chartered status. |
5 |
* Or Appropriate Management Team (AMT). 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 AMT member as complying with this provision.
**Large firm – the definition will generally be consistent with that of the UK government (i.e. a company with 250+ employees).
Applications for corporate Chartered status cannot be accepted from:
- Sole traders
- Limited liability companies with one director only
- Firms outside the UK, Republic of Ireland, the Channels Islands, or the Isle of Man.
Fees for corporate Chartered status
Fees apply on application and renewal and reflect the cost to the CII in administering, monitoring and enforcing the Chartered scheme. Once your application has been approved, we will confirm the fee that applies.
| Number of employees | Annual fee |
|---|---|
| Up to 10 | £500 |
| 11-50 | £1,000 |
| 51-250 | £1,500 |
| 251+ | £2,000 |
Comparable third party titles
Another way firms can meet the criteria for corporate Chartered status is to have a qualifying percentage of board members holding a comparable Chartered title.
Find out more about comparable third party titles