IRELAND
RECOGNISED PROFESSIONAL QUALIFICATIONS REQUIRED FOR SPECIFIED FUNCTIONS UNDER THE MINIMUM COMPETENCY CODE 2011
Specified function undertaken by Retail financial product an employee Life insurance Personal non-life insurance Commercial non-life insurance Private medical insurance and Consumer credit and associated associated insurances insurances
Assisting consumers in the making of Qualified Financial Adviser (Institute of Certified Insurance Practitioner (The Certified Insurance Practitioner (The Certified Insurance Practitioner (The Qualified Financial Adviser (Institute of a claim under contracts of insurance. Bankers School of Professional Insurance Institute of Ireland) Insurance Institute of Ireland) Insurance Institute of Ireland) Bankers School of Professional Finance, LIA and The Insurance Finance, LIA and The Insurance Institute of Ireland) Associate or Fellow of the Chartered Associate or Fellow of the Chartered Associate or Fellow of the Chartered Institute of Ireland) Insurance Institute Insurance Institute Insurance Institute Member, Associate or Fellow of the Accredited Product Adviser (Loans) Irish Institute of Pensions Accredited Product Adviser (Personal Accredited Product Adviser Diploma in Private Medical Insurance (Institute of Bankers School of Management (post 2006 syllabus) General Insurance) (Institute of (Commercial General Insurance) (The Insurance Institute of Ireland) Professional Finance, LIA and The Bankers School of Professional (Institute of Bankers School of Insurance Institute of Ireland) Accredited Product Adviser (Life Finance, LIA and The Insurance Professional Finance, LIA and The Accredited Product Adviser (Personal Assurance) (Institute of Bankers Institute of Ireland) Insurance Institute of Ireland) General Insurance) (Institute of Accredited Product Adviser School of Professional Finance, LIA Bankers School of Professional (Consumer Credit) (Institute of and The Insurance Institute of Ireland) Associate or Fellow of the Chartered Associate or Fellow of the Chartered Finance, LIA and The Insurance Bankers School of Professional Institute of Loss Adjusters Institute of Loss Adjusters Institute of Ireland) Finance, LIA and The Insurance Associate or Fellow of the Chartered Institute of Ireland) Insurance Institute Associate or Fellow of the Society of Associate or Fellow of the Society of Accredited Product Adviser (Private Actuaries in Ireland Actuaries in Ireland Medical Insurance) (Institute of Associate or Fellow of the Chartered Associate or Fellow of the Society of Bankers School of Professional Institute of Loss Adjusters Actuaries in Ireland Certified Diploma in Loss Adjusting Certified Diploma in Loss Adjusting Finance, LIA and The Insurance (The Insurance Institute of Ireland) (The Insurance Institute of Ireland) Institute of Ireland) Associate or Fellow of the Society of Diploma in Life and Disability Actuaries in Ireland Determining the outcome of claims by Underwriting (The Insurance Institute Diploma in Loss Adjusting (The Diploma in Loss Adjusting (The Associate or Fellow of the Chartered consumers arising under contracts of of Ireland) Insurance Institute of Ireland) Insurance Institute of Ireland) Institute of Loss Adjusters Certified Diploma in Loss Adjusting insurance. (The Insurance Institute of Ireland) Diploma in Life and Disability Claims Solicitor Member of the Law Society of Solicitor Member of the Law Society of Associate or Fellow of the Society of Ireland Actuaries in Ireland (The Insurance Institute of Ireland) Ireland Diploma in Loss Adjusting (The Insurance Institute of Ireland) Solicitor Member of the Law Society of Barrister-at-Law called to the Bar of Barrister-at-Law called to the Bar of Certified Diploma in Loss Adjusting Ireland (The Insurance Institute of Ireland) Ireland Ireland Solicitor Member of the Law Society of Ireland Barrister-at-Law called to the Bar of Diploma in Loss Adjusting (The Ireland Insurance Institute of Ireland) Barrister-at-Law called to the Bar of Ireland Solicitor Member of the Law Society of Ireland
Barrister-at-Law called to the Bar of Ireland
Page 1 of 3 Being directly involved in reinsurance Qualified Financial Adviser (Institute of Certified Insurance Practitioner (The Certified Insurance Practitioner (The Certified Insurance Practitioner (The Qualified Financial Adviser (Institute of mediation. Bankers School of Professional Insurance Institute of Ireland) Insurance Institute of Ireland) Insurance Institute of Ireland) Bankers School of Professional Finance, LIA and The Insurance Finance, LIA and The Insurance Institute of Ireland) Associate or Fellow of the Chartered Associate or Fellow of the Chartered Associate or Fellow of the Chartered Institute of Ireland) Insurance Institute Insurance Institute Insurance Institute Member, Associate or Fellow of the Accredited Product Adviser (Loans) Irish Institute of Pensions Accredited Product Adviser (Personal Accredited Product Adviser Diploma in Private Medical Insurance (Institute of Bankers School of Management (post 2006 syllabus) General Insurance) (Institute of (Commercial General Insurance) (The Insurance Institute of Ireland) Professional Finance, LIA and The Bankers School of Professional (Institute of Bankers School of Insurance Institute of Ireland) Accredited Product Adviser (Life Finance, LIA and The Insurance Professional Finance, LIA and The Accredited Product Adviser (Personal Assurance) (Institute of Bankers Institute of Ireland) Insurance Institute of Ireland) General Insurance) (Institute of Accredited Product Adviser School of Professional Finance, LIA Bankers School of Professional (Consumer Credit) (Institute of Acting for or on behalf of a regulated and The Insurance Institute of Ireland) Finance, LIA and The Insurance Bankers School of Professional firm in the direct management or Institute of Ireland) Finance, LIA and The Insurance supervision of those persons who act Institute of Ireland) for or on behalf of that regulated firm and who: Accredited Product Adviser (Private Medical Insurance) (Institute of - Provide advice to consumers about Bankers School of Professional retail financial products. Finance, LIA and The Insurance - Arrange or offer to arrange retail Institute of Ireland) financial products for consumers. - Assist consumers in the making of a claim under a contract of insurance. - Determine the outcome of claims by consumers arising under contracts of insurance.
Adjudicating on any complaint Qualified Financial Adviser (Institute of Certified Insurance Practitioner (The Certified Insurance Practitioner (The Certified Insurance Practitioner (The Qualified Financial Adviser (Institute of communicated to a regulated firm by a Bankers School of Professional Insurance Institute of Ireland) Insurance Institute of Ireland) Insurance Institute of Ireland) Bankers School of Professional consumer which relates to: Finance, LIA and The Insurance Finance, LIA and The Insurance - Advice about a retail financial Institute of Ireland) Associate or Fellow of the Chartered Associate or Fellow of the Chartered Associate or Fellow of the Chartered Institute of Ireland) product provided to that consumer, Insurance Institute Insurance Institute Insurance Institute or; Member, Associate or Fellow of the Accredited Product Adviser (Loans) - The arranging or the offering to Irish Institute of Pensions Accredited Product Adviser (Personal Accredited Product Adviser Diploma in Private Medical Insurance (Institute of Bankers School of arrange of a retail financial product Management (post 2006 syllabus) General Insurance) (Institute of (Commercial General Insurance) (The Insurance Institute of Ireland) Professional Finance, LIA and The for that consumer, or; Bankers School of Professional (Institute of Bankers School of Insurance Institute of Ireland) - Assisting the consumer in the Accredited Product Adviser (Life Finance, LIA and The Insurance Professional Finance, LIA and The Accredited Product Adviser (Personal making of a claim under a contract Assurance) (Institute of Bankers Institute of Ireland) Insurance Institute of Ireland) General Insurance) (Institute of Accredited Product Adviser of insurance, or; School of Professional Finance, LIA Bankers School of Professional (Consumer Credit) (Institute of Licentiate of the Association of Determining the outcome of a claim and The Insurance Institute of Ireland) Licentiate of the Association of Finance, LIA and The Insurance Bankers School of Professional - Compliance Officers in Ireland made by a consumer under a Compliance Officers in Ireland Institute of Ireland) Finance, LIA and The Insurance contract of insurance. Licentiate of the Association of Institute of Ireland) Compliance Officers in Ireland Solicitor Member of the Law Society of Solicitor Member of the Law Society of Accredited Product Adviser (Private Ireland Ireland Medical Insurance) (Institute of Licentiate of the Association of Solicitor Member of the Law Society of Bankers School of Professional Compliance Officers in Ireland Ireland Barrister-at-Law called to the Bar of Barrister-at-Law called to the Bar of Finance, LIA and The Insurance Ireland Ireland Institute of Ireland) Solicitor Member of the Law Society of Barrister-at-Law called to the Bar of Ireland Ireland Licentiate of the Association of Compliance Officers in Ireland Barrister-at-Law called to the Bar of Ireland Solicitor Member of the Law Society of Ireland
Barrister-at-Law called to the Bar of Ireland NOTES
In the context of the Lloyd’s market, a managing agent, a coverholder in Ireland and a service company in Ireland are each a “regulated firm”.
The definition of “consumer” in Minimum Competency Code is the same as the one used in the Consumer Protection Code 2012. Please refer to the Complaints section of the Crystal report for Ireland for this definition.
Details of “retail financial products” are on pages 26-28 of the Minimum Competency Code 2011.
Details of the “specified functions” and required professional qualifications are on pages 29 and 64-66 of the Minimum Competency Code 2011.
A copy of the Minimum Competency Code 2011 is available on the Crystal report for Ireland under Reference > Insurance law and regulation > Minimum Competency Code 2011.
Qualifications in red text are awarded by institutions in the UK and those in black text are awarded by institutions in Ireland.
Details of the professional qualifications provided by the Insurance Institute of Ireland are available on its website.
Information is correct as at November 2016.
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