Throwback Thursday: CII exam costs criticised
Insurance Post’s Throwback Thursday steps back in time to July 1970 to remind you what was going on this week in insurance history when young Chartered Insurance Institute members were moaning about the cost of exams.
16 July 1970: CII cost of exams criticised
The Young Members Committee of the Insurance Institute of London criticised the cost of Chartered Insurance Institute exams.
In response, the Insurance Institute of New Zealand argued the cost of tuition and examination fees equated to 2% of insurance worker’s salaries.
The average 18-year-old working in insurance in New Zealand at that time earned $1,300 a year, Insurance Post reported.
What is an insurance broker?
United Kingdom Provident clarified “What is a broker?” in an advertisement in Post.
“An insurance broker is constantly expected to be both judge and advocate. His job is to choose the one scheme that is ideal for his client. And then to convince his client that the choice is right.”
The advert goes on to state: “His role in life is to be both a jolly and likeable extrovert, and a professional man in whom absolute trust can be placed.”
United Kingdom Provident Institution (UK Provident) merged with Friends’ Provident in 1986.
Friends Provident was later bought by Aviva.
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