H.E. Eng. Sultan Bin Saeed Al Mansouri, Minister of Economy, Chairman of the Insurance Authority issued a resolution on the Insurance Authority qualifying and training a number of the national cadres working in the insurance sector to obtain ACII fellowship and diploma (the highest international professional certificate in insurance) vide an intensive training programme in Abu Dhabi and Dubai emirates in collaboration with one of the internationally accredited institutes; an affiliate of the British Institute to grant this certificate.
the resolution came on basis of the Emaritization plan adopted by the Insurance Authority in the insurance sector for the years 2012-2014 aiming at preparing the national youth to work in the technical, financial and legal aspects of insurance and reinsurance operations, enabling them to occupy higher posts in the insurance companies, enhancing attractivity of work in the insurance sector, elevating Emiratization rate and increasing the number of the nationals in the Insurance companies.
The resolution provided for training, developing and qualifying a number of the nationals who already joined the ACII training session for the year 2012 provided their number not to exceed 25 national employees. The cost of the training session which amounts around AED55 thousand per trainee will be paid from the Insurance companies’ contributions in the fund of qualifying and training the national cadre.
H.E. Fatima Mohammad Ishaq Al Awadi, Deputy Director General of the Insurance Authority said that the Insurance Authority’s initiative to qualify and train the national cadres for 14 to 18 months in order to obtain the worldwide highest scientific certificate in insurance stems from the instruction of H.E. Eng. Sultan Bin Saeed Al Mansouri, Minister of Economy, Chairman of the Insurance Authority to develop the national aptitudes working for the insurance sector, enhance their scientific studies and develop their practical skills in order to qualify them and enhance their role in the insurance sector on one side and to increase their participation in building the national economy on the other side.
She indicated that the Insurance Authority’s initiative is deemed an unprecedented qualitative and advanced step in the governmental institutions and bodies to develop the scientific studies of the nationals and alleviate their professional standards by subjecting them to intensive scientific and practical training sessions in the modern concepts of insurance domains to enable them obtain an internationally advanced certificate in insurance.
She said that he act of 25 national employees joining to obtain ACII fellowship and diploma for the year 2012 is deemed preliminary step in the way of developing the national capacities in the insurance companies and will be followed by similar steps to be made in the next years (2013-2014) within the Emiratization plan adopted by the Insurance Authority.
She stressed that supporting Emiratization policies and the act of being keen to provide the qualified national cadres capable to develop performance of the insurance sector is deemed one of the main pillars of the Insurance Authority’s objectives and the key factors of its daily work and strategic plans.
She drew the attention that ACII certificate should not be the end in the scientific studies and training for the nationals working in the field of insurance particularly, in showdown of the continuous scientific and practical developments in this field by virtue of its relation with the different economic, financial, social, secular and political aspects.
H.E. indicated that the nominees will be selected from the national employees working for the Insurance companies for the development and qualifying programme to obtain the fellowship and diploma of ACII London according to many terms and conditions pre-prepared by the Institute such as the scientific qualification of the nominee not to be less than the high secondary school, and those who obtained higher degrees and have more experience professionally will be given propriety in addition to passing the personal interviews conducted by the Insurance Authority, showing that the development and training programme will be held in Abu Dhabi and Dubai emirates.
H.E. drew the attention that the Insurance Authority issued last Sunday a circular to the Insurance companies on the qualification and development programmes of the fellowship and diploma of the ACII of London asking all the national male and female employees working for these companies to provide the Insurance Authority within one week with the names of those wishing to join. However, the nominees are required to provide an undertaking to continue working for the Insurance companies and exert every possible effort to obtain the ACII certificate, not to quit the programmes except for an excuse acceptable to the Insurance Authority, to pay back the amount paid on his behalf in case of quitting the studies, his service with his company will be terminated by reason for violating the prevailing laws and rules, abide by the laws and regulations issued by the institute during the training session besides bearing costs of his re-examination in case of failing to pass any examination.