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Chartered Insurance Institute
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Risk Management for insurers - two day course
 

Overview

This intensive two day executive programme provides a detailed examination of best practice governance and risk management in insurance companies. The programme takes the understanding of risk in insurance operations and looks at the implications for capital management, including approaches to solvency capital under Solvency II and examines the 'Own Risk and Solvency Assessment' - the ORSA.

The programme aims to equip senior insurance practitioners with pertinent knowledge and insights into the key practices of risk management and its role within good corporate governance.

Programme

The course will consider in detail the risk management practices that well-managed insurance companies adopt. This will include:

  • Understanding the International Risk Management Standard - ISO 31000 
  • Categories of risks faced by insurance companies (strategic, operational, insurance, reserving, credit, liquidity, market, reputational, compliance, legal) 
  • Methods of measuring risks and monitoring risk exposures 
  • Identifying and recording the company's risk appetite and tolerance levels 
  • Setting the risk management policy and strategy 
  • Managing risk culture in the firm 
  • Selecting the most appropriate risk identification techniques 
  • Risk analysis and ranking 
  • Risk control and treatment options 
  • Linking risk appetite with operational control 
  • Understanding the role of stress testing in insurance organisations.

Learning outcomes

  • Further your understanding of how effective risk management forms a vital part of the operation of an insurance undertaking 
  • Gain 'how to' guidance on all features of the management of risk 
  • Receive various templates to help implement the training in the work environment.

Who should attend?

Senior and aspiring insurance practitioners with management responsibility and accountability for a department or business unit in life or non-life insurance organisations. Also suitable for promising, high-potential young insurance managers who have been identified for more significant and broader management roles in their organisations.

CPD hours

Attendance of this course awards up to 12 CPD hours where you consider it relevant to your professional development needs.

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