Part

Small Mortgage and Insurance Intermediaries: Part III - Insurance Intermediaries (additional rules)

Chapter

Training and Competence sourcebook (TC)

Printed on: 24/11/2024

Rulebook at: 09/09/2005

GIGI 4

Training and Competence sourcebook (TC)

GIGI 4.1

Training and competence

  • 01/12/2004

Introduction

GIGI 4.1.1

handbook-guidance
This chapter of the Guide summarises the training and competence requirements that apply to insurance intermediaries, which are in the Training and Competence sourcebook (TC).
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What are the training and competence requirements?

GIGI 4.1.2

handbook-guidance
You must ensure that, for any staff who give advice to retail customers, you comply with Chapters 1 and 2 of the sourcebook (TC 1and TC 2). For any other employees who are associated with insurance mediation activities, only TC 1 applies.
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GIGI 4.1.3

handbook-guidance
TC 1 contains the Commitments. These provide guidance to Principle 3 (management and control) of the Principles for Businesses (see Part 1 Chapter 3). Under the Commitments it is your responsibility to ensure that individuals:
(1) are (and remain) competent for the work that they do;
(2) are appropriately supervised;
(3) have their competence regularly reviewed; and
(4) have a level of competence appropriate for the nature of their business.
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GIGI 4.1.4

handbook-guidance
TC 2 contains more detailed rules and guidance about recruitment, training, attaining and maintaining competence, supervising and monitoring and record keeping. There is no requirement for insurance intermediaries dealing with non-investment insurance contracts to pass an examination as part of the process of attaining competence.
  • 31/05/2005

GIGI 4.1.5

handbook-guidance
Our rules do not specify the level of competence required. It is a matter for firms to decide what competence is necessary for their employees to perform their role effectively and comply with the relevant regulatory requirements.
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