Insurance and Risk Management

Analysis and Transfer of Financial Exposures

5 Found
Date Duration Venue Fees
20-24 May 2024 5 Days Dubai - UAE US$4,450 Register
12-16 Aug 2024 5 Days Dubai - UAE US$4,450 Register
18-22 Nov 2024 5 Days Dubai - UAE US$4,450 Register

Course Overview

Insurance and Risk Sectors are vital in life and business because they protect people and businesses from extreme financial loss or responsibility due to unfortunate emergencies like fire, accident, sickness, disability for work, or other unforeseen events. There are many different types of insurance policies, some for the private use of people and their families, and some others for corporate and other entities’ use. Insurance is a way of transferring risk and is used as a risk-reducing way for People and Corporates to achieve financial protection.

Would you risk your family’s well-being in case of an unexpected tragic event? Insurance is no different from any other business opportunity. But it also comes with some unique considerations. Nobody owns and drives a car without motor insurance. While your liability as a private or professional body may not require indemnity protection, would you really consider leaving these risks unprotected?

Risk Management, on the other hand, is focused on the effect of uncertainty on the organisations’ objectives and therefore, risk and objectives should be bonded together as a common strategy. Risk management and strategy functions should be “best friends”. Risk Management must be related directly to the business strategy. The continuous and rapid change of the business environment (environmental, climate, technological, economic, social, demographic, etc.) constantly creates new and complex risks that need continuous and professional handling and management skills in general. This requires further learning and training professionals in practical risk management applications and selecting the most suitable insurance plans.

Course Objectives

After the training course, the participants will learn to:

  • Define concepts and Laws governing the Insurance Market
  • Classify the concepts and Methods of insurance
  • Describe how Underwriting and Claims Procedures are operating
  • Explain various types of insurance
  • Understand the legal issues of Insurance and Risk Management
  • Analyse and assess business risks
  • Describe how to handle risks and implement risk analysis
  • Design a risk management framework

Target Audience

The Insurance and Risk Management training course is both legally and technically based sciences, and they need specific skills to be understood and implemented.

It is suitable for a wide range of working professionals, including (but not limited to) the following:

  • Insurance and Risk Employees working in Risk, Underwriting and Claims Departments
  • Supervisors and Managers of Business Departments dealing with Risk and Insurance for their Organisations
  • Insurance Employees dealing with Reinsurance
  • Those interested in acquiring insurance knowledge and skills as a complementary job to their primary activity

Training Methodology

This training course uses a combination of interactive presentations and live discussions. It will be supported with case study workshops, videos, models, tables, and charts to consolidate learning and discussion of the findings. A summary recap will be done by the end of each day, linking the topics to formulate a complete training programme. Upon request, it can include a final multiple-choice test on the material as a learning evaluation method.

Course Outline

Day One

Principles of Insurance

  • Definition and Objectives of Insurance
  • Channels of Insurance Distribution
  • Functions of Insurance
  • Hazards and Insurability
  • The Policy, the Proposal, and other Insurance Documents
  • Underwriting Procedures, Claims, and Indemnification
Day Two

Laws and Regulations of Risk, Safety, and Insurance

  • The Insurance Law, Licensing, and Intermediary Registers
  • The Code of Ethics of Insurance
  • Solvency and Capital Requirements
  • Reinsurance and Coinsurance
  • The Principles of Utmost Good Faith: Insurable Interest and the Proximate Cause
  • Information Obligations of Insurance
Day Three

Insurance Needs and Products

  • Operation of Insurance
  • Insurance Needs and Plans
  • The Life Insurance Sector
  • The Accidents and Health Sector
  • The Property and Casualty Sector
  • The General Liability Sector
Day Four

Uncertainty and Risk

  • The Meaning of Uncertainty and Risk
  • Types of Risk
  • Identification of Risks
  • The Risk Assessment
  • Purpose Framework and Criteria of Risk Analysis
  • Risk Analysis and Classification
Day Five

Risk Management Operation

  • Principles of Risk Management
  • Transfer of Risk: Insurable and Uninsurable Risks
  • The Risk Management Process
  • Avoidance – Elimination – Reduction and Acceptance of Risks
  • Recording and Reporting: Communication and Consultation
  • Monitoring – Review – Evaluation


Upon successful completion of this training course, Newage Certificate will be awarded to the delegates.

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