Competency test

JOHN White of the Irish Insurance Federation (IIF) has pointed out that Family Money was incorrect in stating recently about the regulation of intermediaries that no sanctions would be taken against companies whose employees did not pass a new competency test. In fact, such employees "would not be permitted to deal with members of the public until they pass the test," says Mr White.

The IIF's codes of practice for its members and its salesforces are laid out in a new booklet - Life Assurance, A Buyer's Guide which explains how the new central register of life assurance salespeople works, the competency test they must take from January 1st and the selling and advertising practices to which all members and their employees must adhere.