Page 52 - Insurance Times April 2024

B-Schools. Fostering a symbiotic relationship, the institution practical evaluation of teaching, Up-to-date teaching
excels in management education, supported by its robust materials and learning support and suitable teaching
alum network of over 7000 individuals. facilities 2. Professionalism is nurtured through credible and
competent tutors, robust management systems and student
About Chartered Insurance Institute (CII)
support services.
The Chartered Insurance Institute is the leading global
Completing this benchmarking to the APDC accreditation
professional membership body for the insurance sector,
standards can signify to prospective students that a training
representing more than 82,000 members across the UK and
internationally, with offices in London, Dubai and Hong centre has achieved and maintains an internationally
recognised high standard in its education and training provision.
Kong. The Personal Finance Society (PFS)is the pre-eminent
professional membership body in financial planning. It 'Achieving CII APDC status enhances the prestige of an
represents more than 40,000 members across the UK and organization , enabling it to offer teaching and learning
internationally. The CII and PFS educate and support their facilities exclusively for CII qualifications ,while also meeting
members to deliver services to the highest professional a recognized quality benchmark. By promoting professional
standards and to advocate for the public good through their insurance education, this training centre aims to assist and
commitment to continuing professional development and uphold an internationally recognized high standard in its
adhering to a published Code of Ethics. education and training offerings." Said Mr Khaitan while
inaugurating the centre.
By doing this, they build and maintain public trust in the
insurance, financial planning and mortgage advice On the occasion of the opening of the centre , Dr Prabina
professions. Rajib, Director, said, "After some years of hard work, we
are proud to have successfully achieved CII APDC status.
About APDC Under this, several tailored courses have been launched with
CII Accredited Professional Development Centre (APDC) the evolving demands of the job market in mind and to help
status is available to training providers outside the UK. The students keep pace with industry standards. Our centre will
scheme is for centres delivering training towards CII provide a conducive and enriching learning environment to
qualifications only. Successful attainment of CII APDC status transform students into remarkable leaders capable of
enhances an organisation's reputation through approval to making significant contributions to the country."
provide teaching and learning in support of CII qualifications Prof(Dr) Abhijit K.Chattoraj, Chartered insurer and
only and the achievement of a recognised quality chairperson of the Insurance Program, felt that the
benchmark. inauguration of the centre is a testimony of BIMTECH's
The CII Accredited Professional Development Centre pioneering effort of leading the insurance education and
accreditation focuses on two key areas. 1. Quality through professional training in India and neighbouring countries.

Illegal construction can lead to claim denial

Nissan Enterprises, a company engaged in the trading of electronic items including cellphones, their accessories,
cameras, and other audio-video consumer electronics, had purchased a policy from National Insurance to cover its
stock stored in a warehouse in Bhiwandi. The policy was for a sum of Rs 5 crore and was valid from April 18, 2013,
to April 17, 2014.
During the tenure of the policy, there were heavy rains and waterlogging due to which the building collapsed. Sev-
eral people were injured, and some also died. Nissan Enterprises filed a claim citing subsidence as the cause of the
build-ing's collapse. National Insurance appointed a surveyor to examine the site. However, since the claim was kept
pending for long, Nissan Enterprises filed a complaint before the National Consumer Disputes Redressal Commission.
The insurer subsequently repudiated the claim.
The insurer contested the case. It stated that it had asked the insured to appoint a specialised agency to carry out
a test to ascertain the reason for the collapse of the building. The agency reported that there was no visible sign of
subsidence. During inquiries, it came to light that Arihant Developers, the construction firm responsible for the build-
ing, had initially erected it as a single-storey structure in 2004. Later, in 2011, the same developer constructed the
first floor, on which the insured purchased three galas.

The Insurance Times April 2024 47