Around 100 professionals suffering from financial hardship amid the coronavirus pandemic (COVID-19) have been boosted thanks to a sizeable donation from the Chartered Insurance Institute’s (CII) education and training trust.
It has given £25,000 to the Insurance Charities which will now administer applications for the full funding of training and reimburse eligible applicants. In a release it was outlined that applicants do not need to be CII members to request funding – but they do need to work in the insurance/financial planning profession either currently or in the past and be looking to engage in independent study.
Applicants must have less than £8,000 in savings and be unable to finance the studies from their income.
“We exist to support employees working in insurance during challenging times,” said Annali-Joy Thornicroft, chief executive of Insurance Charities.
“This new fund will help employees impacted by the current pandemic by not only contributing to their personal development, but by offering a stepping-stone to a more secure future in these uncertain times.”
Meanwhile, independent chair of the CII’s education and training trust Simon White noted the intention is to increase skills and capabilities.
“At this critical time, so much relating to education and studies is either paused or on hold,” he said.
“We feel it is important to be able to offer financial support relating to studies for those in the insurance and personal finance sectors. Those who wish to, but may not be in the financial position to do so, will be assisted to undertake a course of study to maintain and develop their knowledge.”