The Chartered Insurance Institute (CII) has committed to making sure the diversity and inclusion policies that member firms have in place are having a positive difference on the make-up of the profession.

Last summer, the CII unveiled five actions to ensure chartered firms have a positive social impact and contribute to the development of the wider profession, including a requirement for companies to have a diversity and inclusion policy from July 2019.

To make sure these policies are delivering positive change for the profession and wider society, the CII said that, from 2021, it will request examples of the impact the approaches are having on chartered firms when they wish to renew their status.

More than 900 chartered firms that seek to retain their status in 2020 have confirmed they will have a diversity and inclusion policy in place by the end of this year.

Vital

Melissa Collett, professional standards director of the CII, said: “It is vital the requirements for corporate chartered status ensure the profession remains modern, relevant and diverse.

“Corporate chartered status requirements are continually reviewed to ensure relevance and are overseen by the CII’s professional standards committee, which is chaired by an independent legal practitioner and includes representatives from across the profession as well as consumer groups.

“We believe that by actively listening to the feedback from stakeholders, we can continue to build public trust in a more diverse, inclusive and united profession.”

To assist insurance and financial advice firms, the CII issued guidance on what approaches businesses could take to establish an inclusive culture that leads to fair outcomes and promotes respect and equality.