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RQF Level N/A

Overview

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Award in General Insurance (non-UK) (W01)

The Award in General Insurance (Non-UK) is an introductory qualification that develops your understanding of the basic principles of insurance, the main legal principles related to insurance contracts, the main regulatory principles related to insurance business and the key elements to protect consumers.

The default Enrolment option for this unit includes:

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

**Click here for an important notice for international deliveries**

This unit can only be awarded to non-UK residents. This unit prepares you for a career in this international industry. It 'sets the scene' by introducing the concept of risk and how it is managed, as well as the different categories of risk. It also explains how insurance acts as a risk transfer mechanism and introduces the main classes of insurance.

We examine the insurance market structure, its main participants and the various professional roles. It includes the main legal principles that apply to insurance with chapters on contract and agency, good faith, proximate cause, indemnity, contribution and subrogation.

We look at regulation, including the role and functions of the International Association of Insurance Supervisors (IAIS). We also outline the importance of combating financial crime and the role of the Financial Action Task Force (FATF) in developing a strategy to combat money laundering and terrorist financing. The unit then considers the issue of fraud and how insurers manage it.

Finally, we look at the role and importance of ethics in the insurance industry, including the Chartered Insurance Institute's Code of Ethics.

Building a successful career in insurance

This unit is particularly suitable if you’re a non-UK insurance practitioner at the beginning of your career or seeking to build on existing knowledge through formal study. It also meets the operating standards set by the local regulator.

This unit counts towards achieving the Award in General Insurance (Non-UK).  It may also count towards the Certificate in Insurance, Certificate in Insurance and Financial Services (non-UK), the Diploma in Insurance and the Advanced Diploma in Insurance.

Please note: Award in General Insurance enrolments are not available in the UK. Non-UK candidates can enrol online and by phoning Customer Services. You will be prompted to select your chosen international exam centre location and date or sit your exam from home with remote invigilation. To enrol for the Award in Guernsey, Jersey, Isle of Man or the Republic of Ireland please call Customer Services on +44 (0)20 8989 8464

Summary of learning outcomes  

  1. Understand the nature and main features of risk and insurance
  2. Know the structure and main features of the insurance market
  3. Understand the main legal principles governing insurance contracts
  4. Understand the main regulatory and legal principles applicable to the transaction of
    insurance business
  5. Know key aspects of ethics, corporate governance and internal controls

Assessment

  • 2 hour exam
  • 100 multiple choice questions
  • 70% nominal pass mark

Study material - editions available

2021-22 edition (applicable to exams sat 01 May 2021 to 30 Apr 2022).