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Protection exam pondered

Norwich Union Life is in discussions with the Chartered Insurance Institute about launching a protection exam for advisers.

The CII covers protection in its full financial planning qualification and through CF6, where the focus is only on mortgage payment protection insurance.

NU director of protection Richard Verdin says a standalone exam is needed. The firm has had preliminary discussions with the CII on the possibility of an exam, potentially called examination in financial protection advice.

Verdin is proposing for the exam to be split into core modules covering mortgage and family protection planning, with additional modules covering business protection and private medical insurance.

Modules will also have to cover product structures, their applications, underwriting, the use of wills and tax rules, says Verdin.

He says: “NU believes that for customers to better understand the importance of financial protection, all who advise on pure protection should have proven their competence through requisite examination.”

CII director of business development Steve Jenkins says: “If the market feels there is a need for us to work with it to build something then we are very receptive to that idea but there needs to be a tangible demand for it.”


Defaqto puts focus on stats

Defaqto has revamped the layout of its quarterly multi-manager guide, Blending Talents, to focus on statistics and comment.

Class acts

During the last week, I have learned of two initiatives from the usually mundane world of income protection insurance.

‘Bridge the exam divide with CPD’

The Association of Independent Financial Advisers is calling on the FSA to allow advisers with qualifications made up of QCA level 3 and 4 components to bridge any gaps with CPD.


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