The Australian and New Zealand Institute of Insurance and Finance (ANZIIF) says its proposed compliance certification for general insurance brokers has been approved by the industry regulator.

The Financial Markets Authority (FMA) assessed the proposed certification and found it to be equivalent to the New Zealand Certificate in Financial Services (Level 5) Version 2 and meeting the new Code of Professional Conduct for Financial Advice Services, which comes into effect in March next year.

“We are committed to supporting New Zealand general insurance brokers by delivering high quality, relevant learning that meet code outcomes for general insurance brokers,” ANZIIF CEO Prue Willsford said.

She says recognition of prior learning will also be available, limiting formal studies to the new components required under the code. These will be covered in a specially tailored bridging unit.

The ANZIIF Learning pathways also include an option for skilled brokers to receive accreditation based on recognition of prior learning. This provides expereinced brokers with an alternative to “back to the classroom” learning.

ANZIIF is offering a free webinar with more information about the new code and its professional development offer on August 18.