Dip-Down Clause

Umbrella liability provision specifying that, in the event the primary Policy aggregate limit is exhausted or reduced, the Umbrella Policy will ‘dip-down’ and pay primary losses incurred during the Umbrella Policy period.

Diploma in Insurance

A newly introduced (2004) examination-based qualification recognising the technical’ development achieved by those with a growing understanding of the industry. It requires candidates to pass a 110 credit threshold. Successful CII members can apply to use the designation ‘Dip CII’. See ADVANCED DIPLOMA IN INSURANCE.