Aviation and Space Insurance (M91) develops an understanding of the risks and practices related to aviation and space insurance and related issues.

The default Enrolment option for this unit includes:

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

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 

1. Know the main elements of aviation risk.
2. Understand the main international and national measures impacting on aviation risk.
3. Understand the scope of cover under the main and related classes of aviation insurance.
4. Understand the market practices of aviation insurance.
5. Understand risk assessment and underwriting of aviation insurance.
6. Understand claims investigation, handling and settlement procedures in aviation insurance.
7. 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
• 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)

The objective of this unit is to demonstrate knowledge and understanding of cargo and goods in transit risks and their insurance.

The default Enrolment option for this unit includes:

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

Cargo and Goods in Transit Insurances (M90) deals with the insurance of goods in transit from consignor to consignee anywhere in the world.

Cargo insurance is the insurance of the goods against loss or damage and is related directly to the value of those goods. The study text includes the main internationally recognised London marine clauses that provide cover, as well as those clauses designed for specific types of goods.

Goods in transit insurance covers the legal liabilities of the bailees of those goods while they are in their possession for the purposes of delivering them from consignor to consignee — from the seller to the buyer.

This text covers legal liabilities and the insurance available to the owner of the goods in transit from the premises of the seller up to delivery at the premises of the buyer. International conventions including the Hague-Visby Rules, the Hamburg Rules, the CMR Convention and the CIM Convention are considered.

It looks at goods typically traded, the risks they are exposed to and finally claims considerations and practices associated with both cargo and goods in transit insurances.

Building a successful career in insurance

This course is ideal for anyone looking to gain knowledge and understanding of cargo and goods in transit insurances to build a successful career in the insurance profession or in a support function. Cargo and Goods in Transit Insurances (M90) 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 

1. Understand the business environment of shipping and world trade.
2. Understand the legal and regulatory environment of cargo and goods in transit risks.
3. Understand the scope of cover for cargo.
4. Understand the scope of cover for haulage contractor’s liability.
5. Understand the underwriting of cargo and goods in transit insurance.
6. Understand claims considerations and procedures for cargo and goods in transit.

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
• 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)

The objective of this unit is to develop knowledge and understanding of the fundamental principles and practices of claims practice and how claims are handled.

The default Enrolment option for this unit includes:

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

Claims Practice (M85) considers the practical aspects of handling a claim; from receipt to settlement (whatever that means in each case).  It deals with the rules within which the claims handler must operate, as well as explain those of their duties which do not relate directly to the customer, e.g. the setting of claims reserves and ensuring that reinsurance and other recoveries are made.

Not all claims arise directly from the insurer's own policyholder. Some will come from persons, third parties, who have a problem with the policyholder, having experienced a loss because of their actions. We will see the law behind such claims and how to settle them. Some of these claims may end up being dealt with in a court of law. Consequently, they must be dealt with in a certain way to comply with the law and court procedures and this study text explains this.

Finally, we will look at what to do when a customer is not satisfied with how their claim has been resolved, what rules apply and the techniques of dispute resolution.

Building a successful career in insurance

This course is ideal for claims handlers and for those looking to gain knowledge and understanding of claims practice. Claims Practice (M85) 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 

1. Understand key aspects of claims handling.
2. Understand key aspects of handling personal lines claims.
3. Understand key aspects of handling property claims, including business interruption.
4. Understand key aspects of handling third party liability claims.

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
• 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

2023-24 edition (applicable to exams sat 01 May 2023 to 30 April 2024)

Revision aids available

The revision aids available for this unit are listed below. You can find more details about these here.

• Key Facts Booklet

The objective of Commercial Insurance Contract Wording (M21) is to develop knowledge and understanding of commercial (re)insurance contract wordings and the legal, regulatory and drafting issues surrounding these wordings.

The default Enrolment option for this unit includes:

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

In an increasingly complex financial world, (re)insurance, and in particular, (re)insurance contract wordings play a vital role in establishing the terms and conditions of a (re)insurance contract, contract certainty and clarity.

Knowledge of fundamental legal principles and an understanding of the pitfalls of poorly worded insurance contracts can help to avoid errors, omissions and legal disputes. To help understand the importance of (re)insurance contract wordings, this study text focuses on a variety of topics including:

• The environment in which wordings are created.
• Market organisations' support for the world of contract wordings.
• The changing landscape of contract certainty and the importance of industry regulation.
• Key components of a wording.
• The legal and practical considerations when drafting and reviewing.
• Parties to a contract, their responsibilities, and how disputes can be resolved.
• Facultative reinsurance wordings and treaty reinsurance.
• Types of proportional and non-proportional reinsurance clauses.

Building a successful career in insurance

This course is relevant for anyone seeking to develop their knowledge and skills for a rewarding career in the insurance profession or in a support role. Insurance Law (M05) 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 

1. Understand the environment within which UK commercial (re)insurance contract wordings are created.
2. Understand legal factors affecting commercial (re)insurance contract wordings.
3. Understand the terms and conditions of commercial (re)insurance contract wordings.
4. Understand the different types of reinsurance contract wordings.

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
• 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)

The objective of this unit is to develop knowledge and understanding of the fundamental principles and practices of commercial property and business interruption insurances.

The default Enrolment option for this unit includes:

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

Commercial Property and Business Interruption Insurances (M93) focuses on the main risks to commercial property; policy cover and market practices of commercial property and business interruption insurances, and; risk perception, assessment and underwriting issues associated with these types of insurance.

Its broad scope will be relevant to those working in a wide range of roles including underwriting, claims, surveying and broking.

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 how the commercial insurance market operates. 

Building a successful career in insurance

This course is ideal for those looking to gain knowledge and understanding of commercial property and business interruption insurances to build a successful career in the insurance profession or in a support role. 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 how the commercial insurance market operates. 

Commercial Property and Business Interruption Insurances (M93) 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 

1. Understand the risk and control of fire, theft and other contingencies to property and business interruption.
2. Understand the cover provided by and main practices of property insurance.
3. Understand the cover provided by and main practices of business interruption insurance.
4. Understand the underwriting of property and business interruption insurance.
5. Understand how property and business interruption insurance claims are handled.

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
• 65% exam nominal pass mark
• 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)

The objective of this unit is to develop in the candidate an understanding of delegated underwriting authority from the perspective of all participants, including the setting up, successful management and development of business.

The default Enrolment option for this unit includes:

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

The usefulness of the ability of an organisation to use external resources to assist it in the running of its business is universally recognised and is not focused on the insurance business alone.

What this study text looks at is the very specific decision that insurers can take to delegate any authority to another entity. It considers the risks and benefits to both, and the operational considerations that should be taken into account, both before such a relationship is set up and during its lifetime. This study text will not consider the wider concept of outsourcing of functions generally within a business.

Please note before you start your studies, it is helpful to ensure that you clearly understand the definition of certain terms and phrases provided in the introduction to the study text.

Building a successful career in insurance

This course is relevant for anyone seeking to develop their knowledge and skills for a rewarding career in the insurance profession or in a support role.

Delegated Authority (M66) 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 

1. Understand the business benefits and risks for the use of delegated authorities.
2. Understand the legal and regulatory framework related to delegated authorities.
3. Understand the setting up of delegated authorities.
4. Understand contracts of delegation and contracts of insurance.
5. Understand the management of underwriting by the coverholder/managing general agent (MGA).
6. Understand the management of claims by the coverholder/MGA.
7. Understand key business support functions within the coverholder/MGA.
8. Understand the monitoring and auditing of the delegated authority by the insurer.

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
• 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)

The objective of this unit is to explore the principles of risk management and the role of insurance within these principles.

The default Enrolment option for this unit includes:

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

Fundamentals of Risk Management (M67) explores how people and organisations can anticipate and deal with risk and uncertainty. How a formal structure can help to identify risks, establish how often they are taken, and measure potential consequences if risks materialise. Then we look at risk management, how risk taking can be avoided or reduced, and what can be done to soften the effects when a risk goes wrong. Finally, we study some examples of well-publicised major losses to see what lessons can be learnt.

Building a successful career in insurance

This course is ideal for anyone seeking a career in insurance or looking to gain knowledge and understanding of the fundamentals of risk management and develop their knowledge and skills for a rewarding career in the insurance profession or in a support role.

Fundamentals of Risk Management (M67) 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 

1. Understand the meaning of risk.
2. Understand the role and purpose of risk management
3. Understand the core elements of the risk management process.
4. Understand the different categories of risk.
5. Understand current trends in risk management.
6. Understand the position of insurance within risk management.
7. Understand the key risk management lessons learnt from major loss events.

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
• 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)

The objective of this unit is to develop knowledge and understanding of the fundamental principles and practices of insurance broking practice, including the technical skills required with reference to client care.

The default Enrolment option for this unit includes:

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

This unit will help you to acquire and develop the skills, care and diligence required to operate in the best interests of the client in finding suitable and cost-effective insurance protection and within the legal and regulatory framework operating for insurance business within the UK.

We consider the broker's day-to-day dealing with clients and insurers in order to achieve the respect necessary between all parties to ensure an enduring professional relationship between broker and client. It is paramount that the broker can meet the expectations of the client and the regulator in their dealings.

We look at how the broker negotiates and places a risk, including the relationship brokers maintain with cover providers, including insurers, wholesale brokers and the Lloyd's market. The study text incorporates guidance on the skills and knowledge required in dealing with smaller clients, as well as the special skills necessary in dealing with global insurance programmes.

It also looks at other services brokers provide to clients, such as claims handling and risk management advice, so they can provide a complete service.

Building a successful career in insurance

This course is ideal for anyone seeking a career in insurance broking or looking to gain knowledge and understanding of insurance broking practice. Insurance Broking Practice (M81) 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 

1. Understand the key aspects of the regulatory and legal environment within which insurance brokers operate.
2. Understand the role of the insurance broker in meeting client needs.
3. Understand the role of the insurance broker in the negotiation and placing of insurance contracts.
4. Understand the role of the insurance broker in selecting insurers.
5. Understand the role of the insurance broker in the design and operation of insurance programmes.
6. Understand the role of the insurance broker in the claims negotiation, collection and payment process.
7. Understand the range of services that may be available from insurance brokers and their benefit to clients.

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
• 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)

Revision aids available

The revision aids available for this unit are listed below. You can find more details about these here.

• Key Facts Booklet

The objective of this unit is to develop knowledge and understanding of the fundamental principles and practices of Insurance business and finance practice.

The default Enrolment option for this unit includes:

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

Insurance Business and Finance (M92) provides an understanding of the core principles relating to insurance business and finance.

Corporate governance, for example, is one of the most talked about topics in business today and the requirement to promote good corporate governance both within and outside financial services is increased attention worldwide.

This study text will give you an understanding of the principles and practices of financial accounting, how this function relates to the other activities carried out in a business, and how specific aspects impact on insurance companies.

Building a successful career in insurance

This course is ideal for those looking to gain knowledge and understanding of insurance business and finance to build a successful career in the insurance profession or in a support role.

Insurance Business and Finance (M92) 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 

1. Understand the structure of the insurance profession.
2. Understand the management of insurance businesses.
3. Understand the main aspects of corporate governance.
4. Understand the role of the various functions within insurance organisations.
5. Understand accounting principles and practices and their application.
6. Accounting standards and insurance company accounts.
7. Analyse businesses using financial ratios.
8. Understand the financial strength of insurance companies.

Plus 25 case study-related questions from learning outcomes 1 to 8.

Assessment

• Coursework assignment with 10 compulsory short answer questions (marked within 63 calendar days of submission); and a 90 minute exam comprising 25 multiple-choice questions (MCQs) and 5 case studies each comprising 5 MCQs
• 60% coursework pass mark
• 65% exam nominal pass mark
• 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)

Revision aids available

The revision aids available for this unit are listed below. You can find more details about these here.

• Key Facts Booklet

Insurance Law (M05) provides candidates with knowledge and understanding of the laws which form the background to the operation of insurance, the system within which these laws operate and are administered and apply knowledge and skills to practical situations.

The default Enrolment option for this unit includes:

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

This unit looks at general legal principles, how the legal system works and legal personality - how the law applies to different types of natural persons and juristic persons. It considers the law of torts and examines civil wrongs such as negligence, trespass and nuisance. This is relevant to liability insurance because most claims under liability policies are based on tort. It also considers the law of contract. This is central to the business of insurance where an insurance policy is a contract in which insurers promise to pay claims. It then examines the law of agency which is often regarded as a branch of law of contract. This is important because the majority of insurance policies are sold through an agent of some type.

It then deals with the law of insurance contracts and the legal principles of insurable interest and utmost good faith. It looks the legal rules which govern the duties of the insured when they make a claim, how the loss is measured and how insurers may call upon others to share the loss.

Building a successful career in insurance

This course is relevant for anyone seeking to develop their knowledge and skills for a rewarding career in insurance or in a support role. Insurance Law (M05) 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 

1. Understand the nature and sources of English law and the concept of natural legal persons.
2. Understand the principles of the law of torts and the characteristics of the main torts.
3. Understand the law of contract.
4. Understand the law of agency and its application to insurance.
5. Understand the main principles governing the formation of insurance contracts.
6. Understand the classification and interpretation of insurance contract terms, the effects of their breach and other vitiating factors.
7. Understand the main legal principles governing the making of an insurance claim.
8. Understand how losses are measured and how the principle of indemnity applies to insurance claims.
9. Understand how the principles of subrogation and contribution apply to insurance claims.

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
• 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)

Revision aids available

The revision aids available for this unit are listed below. You can find more details about these here.

• Key Facts Booklet