INSURANCE INSTITUTE OF INDIA has released the Examination handbook for Licentiate, Associate, Fellowship Examination to be held in the month of May 2013.
The Insurance Institute of India was established in 1955 for the purpose of imparting insurance education to persons engaged or interested in insurance.
1. The main objectives of Insurance Institute of India are:
i. To run College and conduct Examinations in insurance theory and practice and related subjects for awarding certificates, diplomas and degrees to those interested in insurance.
ii. To prepare and supply reading materials and similar other educative methods for encouraging and assisting the study of any subject bearing on any branch of insurance
iii. To form and maintain a library.
iv. To offer scholarships, grants and prizes for research or any other educational work bearing on insurance.
2. Membership: There are at present 91 Associated Insurance Institutes spread allÂ over the country. The Sri Lanka Insurance Academy, Insurance Institute of SriÂ Lanka and The Royal Insurance Corporation of Bhutan Insurance Institute areÂ affiliated to III. The members of the Associated Institutes and the AffiliatedÂ Institutes automatically become the members of III. Please refer to List ofÂ Associated Institutes and Affiliated Institutes on the website.
3. Governing Body: The Governing Body of III is its Council, which functionsÂ through its Committees, the Administration Committee and the Board ofÂ Education. The Board of Education is the supreme body in all matters relating toÂ education and examinations.
4. College of Insurance is an institution of higher learning in Insurance. TrainingÂ on Life insurance subjects, General Insurance subjects and various ManagementÂ subjects is provided to insurance personnel at different levels. Training to InsuranceÂ Brokers and Insurance Surveyors is also provided in College of insurance.
5. Accredited Learning Centers are formed to fulfill the Institute objectives inÂ providing study materials, training and tuition facilities and other learning aids to
the candidates who prepare for the Institute’s examination.
6. Examinations: The Insurance Regulatory and Development Authority and theÂ insurers in India and abroad recognize certificates and diplomas issued by III toÂ candidates. These qualifications are also recognized by similar Institutes e.g.Â Chartered Insurance Institute (CII) in U.K., Life Office Management AssociationÂ (LOMA), American Institute of Chartered Property and Casualty UnderwritersÂ (CPCU) / The Institutes) in U.S.A. and Insurance Institute of Canada. (PleaseÂ refer to “Cross Recognition of III Qualifications”).
7. The IRDA has recognized the Institute as the examining body to conduct prerecruitment examinations for insurance agents as well as Pre-licensing test forÂ Insurance Surveyors.