Section 2: Membership of the Institute.

(1) Subject to the provisions of this Act, persons admitted to membership of the Institute shall be enrolled as insurance practitioners in the category of-
(a) fellows;
(b) associates; or
(c) ordinary members, and
shall have status in the Institute accordingly.
(2) Persons registered under this Act as insurance practitioners shall be entitled to be enrolled-
(a) as fellows, if they satisfy the Council that for the period of ten years immediately preceding the date of application in that behalf they have been fit persons, and in addition to being successful at a qualifying examination prescribed by the Institute, or being the holders of approved academic or professional qualifications, have been in continuous active employment as insurance practitioners;
(b) as associates, if they satisfy the Council that for the period of five years immediately preceding the date of application in that behalf they have been fit persons, and in addition to being successful at a qualifying examination prescribed by the Institute, have been the holders of approved academic or professional qualification and have been in continuous active employment as insurance practitioners; and
(c) as ordinary members, if they are employed on a full-time basis in an insurance establishment.
(3) The Institute may register a member as an honorary fellow, an honorary associate or an honorary fellow after an election by the Council on the recommendation of the board of fellows or as an honorary associate after an election by the Council on the recommendation of the membership committee.
(4)
All Nigerian based fellows and associates of the Chartered Insurance Institute of London, before the commencement of this Act, shall be required to apply for registration under this Act.
(5) No person shall be entitled to be employed as an insurance consultant or senior officer in the technical department of an insurance company, broking or loss adjusting firm unless he is duly registered as a member of the Institute.
(6) Fellows and associates of the Institute shall be entitled to use after their names the words "Fellow of the Chartered Insurance Institute of Nigeria" and "Associate of the Chartered Insurance Institute of Nigeria" respectively or the initials "FIIN" or "AIIN".