A survey by the Chartered Insurance Institute has found significant opposition to the Financial Conduct Authority’s proposal to remove the requirement for those working in the insurance profession to undertake a minimum of 15 hours training and development per year.

During the FCA’s consultation into simplifying insurance rules, the CII asked its members for their views, finding that 80% of respondents believed the ‘public perception of the insurance profession will suffer’, if the FCA removes its 15-hour requirement. A similar proportion (83%) agreed or strongly agreed that undertaking CPD is ‘essential’ if they are to be viewed as a professional by clients or customers.

As well as its own submission, the CII encouraged its members to respond to the FCA’s consultation, which closed on 2 July. Matthew Hill, chief executive of the CII Group, said: “We believe that while the current requirement leaves much to be desired, removing it without putting something better in its place sends the message that personal development and skills in insurance don’t matter.

“The FCA’s proposal runs counter not only to any sensible analysis of the key role of skills in driving growth and competitiveness, but also to the core values of the insurance profession. Without a better alternative in place, it is our concern that this change would create a harmful skills gap, affecting the public, consumers and professionalism across our sector.”

The CII has previously stated that its own CPD requirement will remain irrespective of the outcome of the FCA’s consultation. It added that its survey of member views shows that CII members strongly support maintenance of higher standards.