CII happy to be “Chartered”
Research by the Chartered Insurance Institute (CII) suggest that being “Chartered” is worth a lot in terms of public confidence, both in the insurance and financial planning sectors, and in the broader world of professional services.
In the UK, Royal Charters have been granted by the sovereign on the advice of the Privy Council since the 13th century.
Their original purpose was to create public or private corporations and to define their privileges and purpose.
Nowadays, new Charters are normally reserved for bodies that work in the public interest (such as professional institutions and charities) that can demonstrate pre-eminence, stability and permanence in their particular field.
According to the CII, the global financial crisis has left its mark on public trust and confidence, but the “Chartered” title still symbolises “an unparalleled mark of quality”.
Across financial services there are currently 300 Chartered firms and over 19,000 CII Chartered members, with both figures increasing.
The body’s chief executive officer, Sandy Scott, comments: “The public know and trust the Chartered brand. What’s more, our research shows that it is consistent with the public mood on the need for trust in financial services.”
The CII’s research and its Paper in Professionalism entitled “The Stamp of Quality? The Importance of Being Chartered” forms part of a wider campaign to promote the value of Chartered status to the industry as well as the public.
The paper is available at www.cii.co.uk/papersinprofessionalism
Category: Insurance News
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