Can it just be reading? Training and Competency Purpose The Insurance Distribution Directive (IDD) sets out the importance of training and competence and the need to establish high standards. This is NOT in addition to … Chapter 14 Rights of Individuals Receiving Services . The LIDDA must ensure a CIS: The IDD introduces a minimum of 15 hours of professional training and development per year in order to reach this goal. IDD from The Chartered Insurance Institute As already mentioned, staff involved in the distribution of insurance products will be expected to complete 15 hours of CPD each year and demonstrate minimum levels of competency and knowledge in specific core areas. Complete a minimum of 15 hours of professional training/development in each 12 month period. Overview. minimum necessary financial competency; Does the IDD CPD have to be structured? Knowledge and competence requirements before starting MCD credit agreement activities TC 2.1.5A R 21/03/2016 RP 19 TC 2.1.5B R and TC 2.1.5C R apply to a firm acting as an MCD creditor or an MCD credit intermediary . The IDD introduces a requirement for a minimum 15 hours per annum of Continuing Professional Development (CPD). Provided firms keep a log of the time spent on training, and provided the CPD is not ‘on the job’ experience, it can be unstructured – so, for example, time spent reading about money laundering requirements could count as CPD. IDD has many practical implications for insurance companies since it deals with employees' knowledge and competence. It also sets measurable goals for volume and contents of employee training, such as having at least 15 hours of professional training yearly and in relation to the products and services, business type, roles etc. These requirements revolve around different types of insurance products, i.e. MAS Notices 211 and 502 published on the MAS website set out the best practice standards in training and competency and continuing professional development (CPD) expected of general insurance agents, Relevant Persons*, and insurance brokers. indemnity cover, and training and competence requirements. ... it introduces requirements for the minimum professional knowledge and competence needed. The essential requirements are that each Relevant Employee must: Possess appropriate knowledge and ability to be able to do their job adequately; Undertake continued professional training and development to maintain an adequate level of performance. So a first step for insurers and intermediaries in assessing conduct impacts is to identify the contracts falling within the large risks exemption, and determine whether they can be The CII’s IDD portal provides; ­Pre-set IDD pathway to cover core training The LIDDA must ensure a crisis intervention specialist (CIS) provides education about the manner in which to engage persons with IDD and their unique needs to: members of a Mobile Crisis Outreach Team (MCOT) to increase the competency of the members; law enforcement; and; others as appropriate. Cultural Competency requirements . The CPD year is not mandated by the regulator and firms will need to adapt this into their existing T&C Requirements. Training and competence – The IDD require firms to (and the wording is) ‘possess appropriate knowledge and ability in order to complete their tasks and perform their duties adequately’. ... requirements in the IDD. Industry Guidelines on Training and Competency Requirement and Continuing Professional Development .

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