Liability Insurances (M96) focuses on assessing and managing liability risks; employer's, public and product, specialist and directors' and officers' liability, and; professional indemnity insurance.
Liability insurance provides an indemnity to the insured in respect of their legal liability to other parties. Such obligation to reimburse a third party must arise as a consequence of a breach by the insured of certain rights of the third party. The main purpose of liability insurance is to compensate the victim and at the same time to protect the wrongdoers from the financial consequences of their negligent acts or omissions, breach of statutory duty, and trespass or nuisance, with the added benefit of having a professional party (the insurer) handling the claim.
Building a successful career in insurance
At this stage in your studies it is likely that you are already working in the insurance market and may well have a good understanding of liability insurance. This course is ideal for anyone seeking to develop their knowledge and understanding if liability insurances to build a successful career in the insurance profession or support function. Liability Insurances (M96) 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
- Understand the identification, evaluation and management of liability risk.
- Understand the main considerations of liability underwriting.
- Understand the risks, cover and practices of employers’ liability insurance.
- Understand the risks, cover and practices of public and products liability insurance.
- Understand the risks, cover and practices of directors’ and officers’ liability and corporate reimbursement insurance.
- Understand the risks, cover and practices of professional indemnity insurance.
Assessment
- Coursework assignment with 10 compulsory short answer questions (marked within 63 calendar days of submission); and a 1 hour exam comprising 50 multiple-choice questions (MCQs)
- 60% coursework pass mark
- The exam standard pass mark is 65% (for more information on standard pass marks please see here)
- The average pass rate for those completing Diploma in Insurance mixed assessment units in full is currently 91.3%
- 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 CII 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 CII 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.
