CII returns to historic local institute funding model

Equitable sharing of £1.5 million

clock • 1 min read
CII returns to historic local institute funding model

The Chartered Insurance Institute (CII) has reinstated its historic funding model for local institutes for 2022.

The model's reinstatement was confirmed on Wednesday (15 December) and seeks to "equitably" share the £1.5m in available funds as a payment over the summer months, based on the annual assessment completed by each local institute's members. Earlier this year, the CII switched to a revised funding proposal for 2021 when faced with lower operating costs as a result of the pandemic. The revised funding model would "allow for rapid financial recovery while also ensuring that the CII could continue...

To continue reading this article...

Join Cover

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around Covid-19, regulation, diversity and mental health.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Individual Protection

Aegon UK pays out £139 million for individual protection claims in 2021

Aegon UK pays out £139 million for individual protection claims in 2021

Cancer most common reason for claiming on life policies

Hemma Visavadia
clock 25 May 2022 • 2 min read
Aviva pays outs nearly £1.1 billion during 2021

Aviva pays outs nearly £1.1 billion during 2021

98% of claims paid

John Brazier
clock 23 May 2022 • 3 min read
Individual protection pay outs up 9% on average in 2021

Individual protection pay outs up 9% on average in 2021

ABI and GRiD statistics show

Hemma Visavadia
clock 23 May 2022 • 2 min read