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The Insurance Institute of London in collaboration with The Chartered Institute of Loss Adjusters

The contents of this report are not intended to be a full and authoritative statement of the law or practice relating to any of the issues covered; readers are recommended to take appropriate professional advice upon any issue which may affect them.

Statements and opinions in this report represent the majority view of the Study Group and are not necessarily in accordance with those of its individual members, their employers or the Institutes.

ISBN 978-0-900493-94-2 (Print)

ISBN 978-0-900493-95-9 (ePub)

ISBN 978-0-900493-96-6 (Mobi)

© 2012 The Insurance Institute of London and The Chartered Institute of Loss Adjusters. Copyright has been claimed and re-extended to all countries signatory to the Berne Copyright Convention and the Universal Copyright Convention.

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The Insurance Institute of London

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Telephone 020 7600 1343

E-mail iil.london@cii.co.uk

Web Page www.iilondon.co.uk

The Chartered Institute of Loss Adjusters

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Telephone 020 7216 7580

E-mail info@cila.co.uk

Web Page www.cila.co.uk

The Chartered Institute of Loss Adjusters

The Great Fire of London in 1666 heralded the beginnings of the loss adjusting profession, but it wasn’t until 1941 that the term ‘loss adjuster’ was used when the Association of Fire Adjusters was founded. The Chartered Institute of Loss Adjusters (CILA) received its royal charter in 1961 and in 1979 the CILA received a Grant of Arms with the motto “Truth and Equity” which remain the key principles and ethos of the profession. CILA provides strict guidance to its world-wide membership on conflict of interest, business ethics and confidentiality.

The CILA’s commitment to setting standards, examinations and professional conduct enables it to support all members across the industry. Members must comply with standards and are actively encouraged to achieve advanced levels of technical and professional competence.

The Insurance Institute of London

The objectives of the Insurance Institute of London are:

“To raise the levels of professional knowledge of those working in insurance in London, to assist members in their career development and to support and reinforce the role and work of the CII.”

The Institute achieves its objectives through its lecture and visits programmes, its journal and its research studies scheme. With its 17,800 members, London is by far the largest institute amongst the Chartered Insurance Institute’s 67 local and associated institutes.

The Insurance Institute of London was established on 18 June 1907 following the initiative of the president of the Federation of Insurance Institutes of Great Britain and Ireland, who was also general manager of the Commercial Union.

In 1912 a Royal Charter was granted and the Chartered Insurance Institute came into being. Over the subsequent years the Insurance Institute of London handed over its library, museum, insurance courses and membership administration responsibilities to the CII and, in 1934, moved to the Insurance Hall, 20 Aldermanbury, which was specially built for their combined purposes.