A decision to remove “insurance” from the name of the merged British and Australian insurance professional training institutes has drawn international criticism, forcing the merger leaders to think again about the title.

British industry publication Insurance Times reports strong UK opposition to the proposed title of the Chartered Institute of Financial Services, with critics saying the move is an attempt to relegate the insurance industry to an afterthought.

The report says the CII has moved quickly to placate members and now proposes the name “Chartered Institute of Insurance and Financial Services” instead.

Australian and New Zealand Institute of Insurance and Finance (ANZIIF) CEO Joan Fitzpatrick told insuranceNEWS.com.au the new name “ is looking like the preferred contender”.

“We always predicted that would be one of the key issues in member feedback,” she said. “Indeed, it did excite some members who have said can we please put insurance back in the name? We’re pretty relaxed about that.”

Ms Fitzpatrick says association representatives originally considered financial services a “decent catch-all for the whole sector”.

While there was some concern over the name from members in Australia and NZ, she said local opposition is not as strident as in the UK.

ANZIIF will host an online forum on December 11 to encourage further discussion ahead of a member vote on January 28.