The post-graduate professional development programme will be offered locally through the New York College of Insurance, and is already being hailed as a major initiative toward furthering the goals and careers of Bermudians in the insurance industry.

The programme is aimed at the large number of Bermudian and non-Bermudian insurance, reinsurance and financial professionals who have Chartered Accountant (CA), Chartered Property and Casualty Underwriter (CPCU) or Associate member of Chartered Insurance Institute (ACII) designations, and who want to obtain a higher level credential that could move them up the corporate ladder.

BII director of education, Mr. Ian Linnegan, said yesterday: "We've got an opportunity to provide top level education,here, because it will not be too long before companies will be asking for a MBA as a minimum requirement in many jobs.

"Brokers can learn accountants' skills and accountants can learn risk management skills. We expect a lot of interest from risk managers and there are a number of accountants who are working in the insurance field, but who don't have formal training.'' The programme for the degree will be offered on an executive format basis with 16, five-day intensive courses held at the Institute's Hamilton office over weekends.

Four courses will be offered a year, and applicants must complete the entire degree programme within five years.

Even examinations will be held at the Institute's office. Tuition will be provided by New York College staff, who will be flown in each weekend. The MBA programme will follow the curriculum standards set by the American Assembly of Collegiate Schools of Business.

Professionally qualified people working in the industry, (ACII, CPCU or CA's), could receive up to four course credits. Bankers and lawyers will need to consult directly with the New York College to secure similar credits.

"Negotiations have taken some eighteen months to complete,'' said Mr.

Linnegan," to ensure that all participants, be they from the UK, Europe or North America, would be on an equal playing field when it comes to the potential for earned credits toward the degree.'' A grade point average of 3.0 ("B''grade in the U.K.) is required.

Examinations are set thirty days after each course. All inclusive fees will amount to $1,440 per course.

Interested professionals are asked to contact the Bermuda Insurance Institute and attend a meeting at the BII office on Tuesday April 5, at 1.15 p.m.

"We're looking for the programme to attract at least 20 people per course,''said Mr. Linnegan. "We would be able to get a maximum of about forty per course. Just through word of mouth alone, we've had a dozen telephone enquiries already.'' The New York College of Insurance, a respected and successful insurance college, will deliver a programme outline that will include nine courses under a common body of knowledge, including everything from marketing policies and risk management and insurance to managerial accounting and economics and management of information systems.The other seven subjects include leadership and ethics, risk financing and others.

The internationally recognised private school is ranked "very competitive'' in Barron's Profiles of American Colleges and was selected for inclusion in Peterson's Guide to 300 Prestigious Colleges.

Its MBA programmes are considered to be unique in the United States.

The corporately sponsored college has built exchange agreements with colleges, universities and other institutions in Japan, Hong Kong,France, Taiwan, Spain, Singapore, Puerto Rico, Colombia and now Bermuda. They have working relationships with Lloyd's of London and the Chartered Insurance Institute in London and other organisations.

Located just three blocks north of the World Trade Centre, the College of Insurance offers MBA curriculums in Insurance, Finance or Risk Management. It is supported by 300 of the world's most respected insurance and financial corporations.

Mr. Ian Linnegan.