Protection Review is in talks with the Personal Finance Society to set up a national independent training academy to boost protection knowledge across the industry.
The academy will be funded by insurers and reinsurers and is due to be launched at the start of next year. Training will be carried out on an interactive basis and cover all aspects of the protection market including products, underwriting, claims, regulation, sales and technology.
It also plans to cover protection qualifications once the FSA’s rules on this develop. Protection Review chief executive Kevin Carr says: “One of our key aims is for this training to be delivered by independent experts, including intermediaries, with the core purpose of improving knowledge and understanding of the protection industry without promoting any specific products.”
PFS chief executive Fay Goddard adds: “The PFS is always keen to support initiatives des-igned to improve the quality of advice. We are in discussions with the Protection Review with a view to developing professional training for the protection market that will bring benefits to advisers and clients.”