Aviation as an insurance class, details of the types of coverage given for these risks, how this class is underwritten in practice, the legal and regulatory environment within which aviation claims arise, and the steps taken in adjusting these claims.
The study text reflects the evolution of the aviation and space insurance markets, including a section on cyber risks, expanded treatment of drones and the latest material on space tourism insurance.
This study text is intended for those with a basic understanding of the principles and practices of insurance. It does not require any previous technical knowledge of aircraft or the aerospace sector. This subject is also relevant for anyone, irrespective of whether they are involved in the insurance profession in an underwriting, broking, claims adjusting or service provision capacity.
Building a successful career in insurance
This subject is also relevant for anyone involved in the insurance profession in an underwriting, broking, claims adjusting or service provision capacity to build knowledge and skills for a successful career in insurance or in a support function.
Aviation and Space Insurance (M91) counts towards a Diploma in Insurance. It may also count towards the Advanced Diploma in Insurance.
Please note it is assumed that you already have knowledge of the fundamental principles of insurance as covered in Insurance, Legal and Regulatory (IF1) or equivalent examinations.
Summary of learning outcomes
- Know the main elements of aviation risk.
- Understand the main international and national measures impacting on aviation risk.
- Understand the scope of cover under the main and related classes of aviation insurance.
- Understand the market practices of aviation insurance.
- Understand risk assessment and underwriting of aviation insurance.
- Understand claims investigation, handling and settlement procedures in aviation insurance.
- Understand key aspects of space insurance.
Assessment
- Coursework assignment with 10 compulsory short answer questions (marked within 63 calendar days of submission); and a 60 minute exam comprising 50 multiple-choice questions (MCQs)
- 60% coursework pass mark
- 65% exam nominal pass mark (for more information on nominal pass marks please see here)
- The average pass rate for those completing Diploma in Insurance mixed assessment units in full is currently 92.0%
- Coursework assignment to be submitted within 6 months of enrolment
- Exam to be passed within 18 months of enrolment (only first exam entry included as part of the enrolment)
Units treated as equivalent
Due to the extent of syllabus overlap, certain combinations of current and withdrawn units will result in only one award of credits.
If a withdrawn equivalent is held you may not need to complete a current unit in order to satisfy a qualification's completion rules. Clarification should always be sought from CII Customer Service.
Find out more about credit awards for equivalent units
Course delivery
Instructions on accessing your course on RevisionMate will be sent to your registered email address. This is typically within two working days of your order being placed, but may be longer, particularly if payment is made by bank transfer or the unit is available as a pre-order.
Study material - editions available
2024-25 edition (applicable to exams sat 01 May 2024 to 30 April 2025)
