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Risk Management in Insurance (992)

The objective of this unit is to enable candidates to understand the management of risk within the context of an insurance organisation.

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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Insurance Corporate Management (990) provides you with an introduction to the concepts and

processes of risk management in insurance together with some of the issues that need to be addressed by managers at this level.

The syllabus and study text are designed to enable you to evaluate the following:

  • The role of risk management in the insurance sector.
  • The elements of an effective risk management framework in the insurance sector.
  • The regulatory framework for risk management in the insurance sector.
  • The management of strategic risks.
  • The management of core insurance risks.
  • The management of financial risk.
  • The management of operational risk.
  • Capital management in the insurance sector.

Success in the 992 assessment will require you to undertake further reading and private research beyond this core text.

Building a successful career in insurance

Risk Management in Insurance (992) is intended for those nearing the completion of the ACII qualification. You will have already developed a sound grounding in the technical aspects of insurance and will be approaching or have already reached first-line management.

It is assumed that you already have knowledge of insurance organisations, finance and regulations as typically covered in Insurance, Legal and Regulatory (IF1), or equivalent examinations.

Summary of learning outcomes 

  1. Analyse the role of risk management in the insurance sector.
  2. Analyse the elements of an effective risk management framework in the insurance sector.
  3. Understand the regulatory framework for risk management in the insurance sector.
  4. Analyse the management of strategic risks.
  5. Evaluate the management of core insurance risks.
  6. Evaluate the management of financial risk.
  7. Evaluate the management of operational risk.
  8. Evaluate capital management in the insurance sector.

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 96.8%

Study material – editions available

Enrolment (12 months) **New edition availability - Printed & Digital - 30 Nov 21**