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Advanced Risk Financing and Transfer (997)

Advanced Risk Financing and Transfer (997) provides you with an understanding of the role that risk financing and risk transfer play in risk management.

The default Enrolment option for this unit includes:

  • Latest version of the core learning content, in digital format only.
  • Assessment entry.

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Almost all risk events that result in losses for organisations need to be financed and the options available for financing are many and varied. Choosing the right option is essential to ensure that sufficient funds are available when needed and to obtain these funds in a cost-effective way. Organisations that make the wrong decisions can face a difficult and uncertain future.

Insurance and reinsurance remain key risk financing tools and (re)insurance cover can be obtained for a wide range of risk types and claim amounts. However, (re)insurance may not always be the most cost-effective option and is not available to every type of risk, especially financial risks, such as market risk (e.g. interest rate and equity price risk).

This study text explores the wide array of risk financing tools that are available, along with their relative strengths and weaknesses. Case studies will also be used to illustrate these tools in practice.

Building a successful career in insurance

Advanced Risk Financing and Transfer (997) is intended for insurance, broking and risk staff who wish to understand the range of options an organisation may have in dealing with the financing of risk.

It is assumed that you already have a grounding in insurance gained from study Insurance, Legal and Regulatory (IF1), or Insurance Business and Finance (M92) or equivalent examinations.

Summary of learning outcomes 

  1. Evaluate the role that risk financing and risk transfer play in risk management.
  2. Evaluate the use of unfunded risk financing mechanisms.
  3. Evaluate the use of funded risk financing mechanisms.
  4. Evaluate the use of conventional pre-loss risk transfer mechanisms.
  5. Evaluate the use of non-conventional pre-loss risk transfer mechanisms.
  6. Evaluate the use of post-loss risk transfer mechanisms.

Assessment

  • 3 coursework assignments of up to 3,200 words
  • 50% nominal pass mark
  • The average pass rate for those completing Advanced Diploma in Insurance coursework units in full is currently 97.2%

Study material – editions available

Enrolment (12 months)