For the best experience please use the Google Chrome browser, which can be downloaded here

Underwriting Practice (M80)

The objective of this unit is to develop knowledge and understanding of the fundamental principles and practices of underwriting practice and the environment within which they operate.

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**

Underwriting Practice (M80) provides an understanding of the key influences of the regulatory and commercial environment on underwriting, underwriting policy and practice, use of statistical data, risk pricing and risk exposure and control.

It also looks at how the UK regulatory regime has evolved, including the most recent context and reason for those rules incorporated in The Financial Services Act 2012 and how the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) impact the underwriter's role.

We look at significant legislative aspects that create new challenges to the way in which the underwriter is permitted to operate in a more consumer orientated environment.

We look in detail at the role of capital and its impact on the underwriter, the underwriting cycle and the effect that major events can have on that and whether, as these increase in severity or frequency, the solution can be provided by the insurance market, central government or a mixture of both. 

Building a successful career in insurance

This course is ideal for anyone seeking a career in underwriting or looking to gain knowledge and understanding of underwriting practice. Underwriting Practice (M80) 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 influences of the regulatory and commercial environment on underwriting.
  2. Understand key aspects of underwriting policy and practice.
  3. Understand how statistical data is used for underwriting.
  4. Understand the principles and practices of risk pricing.
  5. Understand risk exposure and control.

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 91.6%

Study material - editions available

2022-23 edition (applicable to exams sat 01 May 2022 to 30 Apr 2023)

Revision aids available

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

  • Key Facts Booklet

Note for purchasing revision aids: please make sure you do not already have the revision aid(s) as part of any Enrolment plus purchase.   

Important note about access to RevisionMate

Please note that any purchase of the M80 study text from 9 May will be enrolled on the CII’s new-look RevisionMate. Your welcome email will include your new login details.

If you are currently enrolled on any other unit, you will still need to access legacy RevisionMate for your content and (re)submissions.  

Please visit this page for more information: https://www.cii.co.uk/learning/support/revisionmate/