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Chartered Insurance Institute
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This unit cover the following key subjects:

  • Nature and sources of law
  • Legal personality
  • Law of tort
  • Law of contract
  • Insurance contract
  • Void and illegal insurances
  • Insurance claims
  • Subrogation and contribution
  • Agency

M21 Commercial insurance contract wording

This unit covers the following key subjects:

  • Regulatory regime and market initiatives
  • Legal issues affecting insurance contracts
  • Scope, coverage and limits of insurance contract wordings
  • Main conditions applied to commercial contract wordings
  • Implications of contract wording as applied to different types of reinsurance

P61 Life, critical illness and disability underwriting

To develop underwriting skills in life, disability and critical illness insurances based upon an understanding of the major systems of the body and its diseases and of non medical risks.

P62 Life, critical illness and disability claims

To develop knowledge and skills for the assessment of life, critical illness and disability claims incorporating medical, legal and financial considerations, and the ability to apply these to claims scenarios.

P63 Long term insurance business

To develop in the candidate a detailed knowledge and understanding of the long-term insurance market.

 

P64 Private medical insurance practice

To provide an understanding of the principles and practices of private medical insurance (PMI) and the ability to apply this knowledge to practical situations.

P66 Delegated authority

The objective of this unit is to develop in the candidate an understanding of delegated underwriting authority from the perspective of all participants, including the setting up, successful management and development of business.

M66 Delegated authority

The objective of this unit is to develop in the candidate an understanding of delegated underwriting authority from the perspective of all participants, including the setting up, successful management and development of business.

P67 Fundamentals of risk management

The objective of this unit is to develop in the candidate an understanding of the principles of risk management and the role of insurance within these principles.

M67 Fundamentals of risk management

The objective of this unit is to develop in the candidate an understanding of the principles of risk management and the role of insurance within these principles.

Purpose

At the end of this unit, candidate should be able to demonstrate an understanding of:

  • the business, regulatory and legal environment of underwriting;
  • the main influences on underwriting strategy;
  • the principles and practices of risk pricing.

Assumed knowledge

It is assumed that the candidate already has the knowledge gained from a study of the fundamental principles of insurance as covered in IF1 Insurance, legal and regulatory or equivalent examinations.

Purpose

At the end of this unit, candidates should be able to demonstrate an understanding of:

• the regulatory and legal environment of insurance intermediaries and brokers;
• the role of the broker in meeting client needs and placing risks;
• the role of the broker in selecting insurers, designing insurance programmes and servicing claims;
• the other services that may be available from insurance brokers.

Assumed knowledge

It is assumed that the candidate already has the knowledge gained from a study of the fundamental principles of insurance as covered in IF1 Insurance, legal and regulatory or equivalent examinations.

Purpose

At the end of this unit, candidates should be able to demonstrate an understanding of:

  • key aspects of the regulatory environment of insurance claims;
  • how to establish cover exists under the policy and how to gather information;
  • how to determine indemnity or liability;
  • how to negotiate and settle claims.

Assumed knowledge

It is assumed that the candidate already has the knowledge gained from a study of the fundamental principles of insurance as covered in IF1 Insurance, legal and regulatory and P05 Insurance law, or equivalent examinations.

P86 Personal insurances

Purpose

At the end of this unit, candidates should be able to demonstrate an understanding of:

• the market practices of household insurance;
• the policy cover and rating considerations of household insurance and other personal insurances;
• the main claims procedures for personal lines;
• the main aspects of the business environment.

Assumed knowledge

It is assumed that the candidate already has the knowledge gained from a study of the fundamental principles of insurance as covered in IF1 Insurance, legal and regulatory, and M/P05 Insurance law or equivalent examinations.



P86 Personal insurances

Purpose

At the end of this unit, candidates should be able to demonstrate an understanding of:

• the market practices of household insurance;
• the policy cover and rating considerations of household insurance and other personal insurances;
• the main claims procedures for personal lines;
• the main aspects of the business environment.

Assumed knowledge

It is assumed that the candidate already has the knowledge gained from a study of the fundamental principles of insurance as covered in IF1 Insurance, legal and regulatory, and M/P05 Insurance law or equivalent examinations.



P90 Cargo and goods in transit insurance

Purpose

At the end of this unit, candidates should be able to demonstrate an understanding of:

  • the business and legal environment of transit risks;
  • the scope of cover under cargo and goods in transit insurances;
  • the underwriting and claims procedures of cargo and goods in transit insurances.

Assumed knowledge

It is assumed that the candidate already has the knowledge gained from a study of the fundamental principles of insurance as covered in IF1, Insurance, legal and regulatory, and M/P05 Insurance law, or equivalent examinations.

M90 Cargo and goods in transit insurance

Purpose

At the end of this unit, candidates should be able to demonstrate an understanding of:

  • the business and legal environment of transit risks;
  • the scope of cover under cargo and goods in transit insurances;
  • the underwriting and claims procedures of cargo and goods in transit insurances.

Assumed knowledge

It is assumed that the candidate already has the knowledge gained from a study of the fundamental principles of insurance as covered in IF1, Insurance, legal and regulatory, and M/P05 Insurance law, or equivalent examinations.

P91 Aviation and space insurance

Purpose

At the end of this unit, candidates should be able to demonstrate an understanding of:

• the risks related to aviation insurance;
• the scope of cover of aviation insurances;
• market practices related to aviation insurance;
• particular underwriting and claims issues related to aviation insurance;
• key aspects of space insurance;
• the main features of the aviation reinsurance market.

M91 Aviation and space insurance

Purpose

At the end of this unit, candidates should be able to demonstrate an understanding of:

• the risks related to aviation insurance;
• the scope of cover of aviation insurances;
• market practices related to aviation insurance;
• particular underwriting and claims issues related to aviation insurance;
• key aspects of space insurance;
• the main features of the aviation reinsurance market.

M92 Insurance business and finance

Purpose

At the end of this unit, candidates should be able to demonstrate an understanding of:

• the structure of the insurance business;
• the main aspects of management and corporate governance;
• the main accounting principles and practices of insurance company accounts;
• the typical measures of the financial strength of insurance companies.

Assumed knowledge

It is assumed that the candidate already has the knowledge gained from a study of the fundamental principles of insurance as covered in IF1, Insurance, legal and regulatory, or equivalent examinations.



M93 Commercial property & business interruption insurance

Purpose

At the end of this unit, candidates should be able to demonstrate an understanding of:

  • the main risks to commercial property;
  • the policy cover and market practices of commercial property and business interruption insurances;
  • the risk perception, assessment and underwriting issues associated with these insurances.

Assumed knowledge

It is assumed that the candidate already has the knowledge gained from a study of the fundamental principles of insurance as covered in IF1 Insurance, legal and regulatory or equivalent examinations.

 

M94 Motor insurance

Purpose

At the end of this unit, candidates should be able to demonstrate an understanding of:

  • the risks and legal considerations associated with motor insurance;
  • the scope of cover for motor car, motor cycle and commercial motor insurances;
  • the key market practices related to motor insurance;
  • the main underwriting considerations;
  • the claims practices related to motor insurance.

Assumed knowledge

It is assumed the candidate has the knowledge gained from a study of the fundamental principles of insurance as covered in IF1 Insurance, legal and regulatory and P05 Insurance law or equivalent examinations.

 

 

M96 Liability insurances

Purpose

At the end of this unit, candidates should be able to demonstrate an understanding of:

• the risks associated with employers' liability, public and product liability, professional indemnity and
directors' and officers' liability insurances;
• the policy cover and market practices associated with these insurances;
• the management and evaluation of liability risk;
• the main considerations of liability underwriting.

Assumed knowledge

It is assumed that the candidate already has the knowledge gained from a study of the fundamental principles of insurance as covered in IF1 Insurance, legal and regulatory and P05 Insurance law, or equivalent examinations.

 

 

M97 Reinsurance

Purpose

At the end of this unit, candidates should be able to demonstrate an understanding of:

• different types of reinsurance - facultative, proportional and non-proportional treaties;
• the global marketplace for reinsurance and main market practices;
• the main aspects of property, casualty, marine and aviation reinsurance.

Assumed knowledge

It is assumed that the candidate already has the knowledge gained from a study of the fundamental principles of insurance as covered in IF1, Insurance, legal and regulatory, and P05 Insurance law, or equivalent exams. 

 

 

P98 Marine hull and associated liabilities

Purpose

This unit is about demonstrating detailed knowledge and understanding of marine hull and associated liability risks and their insurance. This unit would be of benefit to those involved in the wider insurance
broking or other insurance related services for marine insurance and those wishing to extend their knowledge of this area.

Assumed knowledge

Assumed knowledge may not appear in detail within the learning outcomes but forms part of the syllabus and may be examined. It is assumed that the candidate already has the knowledge of the fundamental principles of insurance as covered in IF1 Insurance, legal and regulatory and M/P05 Insurance law or equivalent examinations.

M98 Marine hull and associated liabilities

Purpose

This unit is about demonstrating detailed knowledge and understanding of marine hull and associated liability risks and their insurance. This unit would be of benefit to those involved in the wider insurance broking or other insurance related services for marine insurance and those wishing to extend their knowledge of this area.

Assumed knowledge

Assumed knowledge may not appear in detail within the learning outcomes but forms part of the syllabus and may be examined. It is assumed that the candidate already has the knowledge of the fundamental principles of insurance as covered in IF1 Insurance, legal and regulatory and M/P05 Insurance law or equivalent examinations.