It is not surprising that
many people in our industry have never heard of the Worshipful
Company of Insurers (WCI). If they have, they might harbour the
mistaken idea that the Livery represents some form of secret society.
In reality The WCI, like all the Livery Companies govern themselves
very discreetly and raise significant charitable funds. It is estimated
that all the Livery companies dispense donations of more than £42
million annually.
The Worshipful Company of Insurers was founded in 1979, and is
located at The Insurance Hall at 20 Aldermanbury, in London. The
Livery’s
motto is: OMNIUM DEFENSOR, which translates as “Protects All”.
Membership
of the Company is limited to persons who are members of the Chartered
Insurance Institute or who are eligible by virtue of being mainly
engaged in the business of insurance.
To be admitted to the Freedom
of the Company, a person must be proposed and seconded by two members
of the Livery, one of whom should also be a Court Assistant.
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The
constitution and ordinances and the Livery’s Court of Aldermen
limit membership to four hundred Liverymen. Because of that limit,
the Court of Assistants attempts to maintain a balanced membership
representing the various age groups engaged in the Company, or
Lloyd’s markets, in broking, loss adjusting, average adjusting,
risk management, or in the other activities associated with the
business of insurance.
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The Worshipful Company of Insurers website can be found at www.wci.org.uk
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