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Chartered Insurance Institute
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Insurance, financial and operational risk management - one day course


Solvency ll is putting risk management on the agenda for every insurer. There is a business imperative for practical risk management to form an integral part of business strategy and operational management. Risk management will feature within every manager's job description, and will impact on day to day responsibilities. Therefore it is becoming a core competence with its own language, processes and tools. This core workshop introduces risk management to non-risk managers and professionals - what it is and how to do it.


  • What is Risk? Downside and opportunity risk. Where and how a business is vulnerable in its risk universe 
  • Where is risk inherent in the insurance process? 
  • Risk classifications: underwriting; market; credit; liquidity; group; operational; business; strategic; reputational 
  • Risk management principles and processes: risk appetite; identification; assessment; mitigation; reporting and monitoring 
  • Risk impact, frequency and volatility, and controllability… in your own areas of responsibility 
  • The role and use of the risk register 
  • Risk mitigation and risk funding buffers: working capital, solvency capital, and economic capital.

Learning outcomes 

  • Explore categories of risks faced by insurers, and their consequences 
  • Summarise the basic principles of risk management 
  • Analyse and quantify risks 
  • Identify the fundamental processes and tools of risk management 
  • Assign key indicators to risks and their risk controls 
  • Differentiate between working capital, economic capital and solvency capital 
  • Assess the alternative ways of mitigating and/or funding risks 
  • Outline the responsibilities for risk management across the firm 
  • Introduce the concept of Enterprise Risk Management.

Who should attend?

Non-risk managers and professionals.

CPD hours

Attendance of this course awards up to 6 CPD hours where you consider it relevant to your professional development needs.

Book online

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Sold out!

Scheduled dates for this course have now sold out, please keep checking the website for updates to availability. Dates are added subject to demand and can also be run in-house for corporate clients.