CII IF1 study guide
CII IF1 · Work through your exam, one topic at a time.
IF1 - Insurance, Legal and Regulatory is one of the foundation-level qualifications awarded by the Chartered Insurance Institute (CII), the UK professional body for insurance and financial planning. It sits at the entry point of the CII's insurance qualification ladder and is commonly taken by people who are new to the sector - new joiners in broking, underwriting, claims and customer-facing roles - as well as by experienced staff who need a formal grounding in the legal framework that underpins everyday insurance work. This platform is an independent study resource and is not affiliated with, endorsed by, or acting on behalf of the CII. The syllabus is organised into three connected learning areas: legal principles and the law of contract; insurance law as it applies to policy formation, indemnity, disclosure and claims; and insurance regulation together with the professional standards expected of practitioners. The CII IF1 study guide has 3 sections and about 1,155 words.
01Legal Principles and the Law of Contract
A contract requires offer, acceptance, consideration, intention to create legal relations and capacity . Acceptance must mirror the offer exactly; a counter-offer destroys the original offer ( Hyde v Wrench ).
391 words, about 2 min02Insurance Law
Core concepts are indemnity, insurable interest, fair presentation, proximate cause, contribution and subrogation . Indemnity restores the insured to the pre-loss financial position, subject to sums insured, limits, excesses and average.
388 words, about 2 min03Insurance Regulation and Professional Standards
The Financial Services and Markets Act 2000 creates the general prohibition : a firm must be authorised (or exempt) to carry on a regulated activity by way of business, and financial promotions must be issued or approved by an authorised person. Regulation is split: the PRA supervises the prudential soundness of insurers (safety and soundness, plus an insurance-specific objective of protecting policyholders), while the FCA handles conduct.
376 words, about 2 min