The Insurance Authority to qualify 25 national employees of the insurance companies to obtain ACII.

: 5/8/2012

Tuesday, May 8, 2012

 

H.E Eng. Sultan bin Saeed Al Mansouri, Minister of Economy and Chairman of the Insurance Authority, issued a decision that the IA will provide qualification and training national resources working in the insurance sector to obtain the fellowship certificate and diploma of the Chartered Insurance Institute in London (ACII), the world's highest professional certificate in the area of insurance.  The qualification and training will be provided through an intensified training program​ to be held in Abu Dhabi and Dubai, in cooperation with an internationally accredited institute to issue the certificate and is affiliated to the British Institute.

           

This decision was made based on the Emiratization Plan adopted by the IA in the insurance sector for the years 2012-2014 to prepare national young people to work in the technical, financial and legal aspects of insurance and reinsurance operations and to empower them to assume senior positions in the insurance companies.  The program also aims at enhancing the attractiveness of working in the sector for UAE nationals and increasing the Emiratization rates and number of UAE nationals in the insurance companies.

 

The decision calls for training, development and qualification of a number of UAE nationals who have registered in the training course to obtain the ACII for 2012, provided that the number may not exceed 25 UAE nationals.  The cost of the training course, amounting to about AED55,000 per trainee, will be paid from the contributions of insurance companies to the fees of qualification and training of national resources.


H.E. Fatima Mohammed Ishaq Al Awadi, Deputy Director General of the IA, said that the IA's initiative to qualify and train national cadres during a 14-18 month period to obtain the world's highest academic certificate in the insurance sector was launched pursuant to the directives of H.E Eng. Sultan bin Saeed Al Mansouri, Minister of Economy and Chairman of the IA, to develop national competencies working in the insurance sector, enhance their academic attainment, and refine their practical skills with a view to empower national resources and support their role in the insurance sector on the one hand, and increase their contribution to building the national economy on the other hand.


Ms. Al Awadhi explained that this initiative by the IA is a qualitative and advanced precedence at the level of the government authorities and agencies to develop the academic attainment of UAE citizens and improve their professional standard by offering them intense academic and practical training programs on the modern concepts of all of the insurance areas to qualify them to receive an advanced international certificate in the field of insurance.

She said: “enrolling 25 national employees to obtain the fellowship and diploma of the Chartered Insurance Institute (ACII) in London for 2012 is the first step toward the development of national competencies in the insurance companies.  The step will be followed by similar steps in the upcoming years (2013 and 2014) under the Emiratization Plan adopted by the IA”.


She emphasized that supporting Emiratization policies and attention to provide national human resources capable of developing the performance of the insurance sector are the core objective of the IA and a key element in its daily practices and strategic plans. She noted that the ACII certificate should not be the end of scientific and training acquisition of the UAE nationals working in the insurance domain, especially amid the ongoing scientific and practical developments taking place in such domain in view of its relationship with various economic, financial, social, religious, and political aspects of the society.


She explained that the nominees will be selected from the UAE nationals working in the insurance companies in the qualification and development program to obtain the fellowship and diploma of the Chartered Insurance Institute (ACII) in London in accordance with many preset conditions, such as: the nominee’s education must not be less than General Secondary certificate, with priority given to the holders of higher education degrees and previous work experience, in addition to passing of the interviews carried out by the IA. She indicated that the development and training program will be held in Abu Dhabi and Dubai.


She further noted that the IA has recently issued a circular to all companies on the qualification and development program of the fellowship and diploma of the Chartered Insurance Institute (ACII) in London instructing the companies to communicate it to all national employees working in companies and provide the IA within one week with the names of those wishing to join the training program along with the signature of nominees on an undertaking to continue working in the insurance companies, do their best to obtain the ACII, not to leave the program without an excuse acceptable by the IA, and to pay the amounts paid for them in case they leave the program and be terminated by the company they work with for violating the applicable laws and regulations.  The trainees are also required to comply with the regulations and policies issued by the training institute during the training course, and to incurring the cost of re-setting for the examination in case of failure in any examination program. 

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