The Underwriting Agencies Council (UAC) is working with the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) to develop special modules for a new Diploma of Financial Services (Underwriting Agencies).

UAC Chairman Damien Coates says the qualification will be internationally recognised.

Speaking after a “hugely successful” inaugural professional development day for members and their staff in Sydney last week, he said the qualification “is further recognition of the importance of the agency sector in the Australian marketplace”.

He says agency staff will participate in tailor-made courses and achieve agency-specific qualifications “in the same way that brokers, workers’ compensation practitioners and other specialist groups within the insurance industry can achieve qualifications specific to their sectors”.

The professional development day, which was arranged by ANZIIF, will now become an annual fixture on the UAC calendar.

Mr Coates says the UAC board is also considering the possibility of hosting a similar day in Melbourne.