Course

Course Summary
Credit Type:
Course
ACE ID:
AICP-0147
Organization's ID:
AIAF 115
Location:
Classroom-based
Length:
9 weeks (36 -- 54 hours)
Dates Offered:
Credit Recommendation & Competencies
Level Credits (SH) Subject
Upper-Division Baccalaureate 3 Risk Management or Risk and Capital Management
Description

Objective:

The course objective is to provide learners with a broad understanding of how insurers manage capital by taking into account various risks and regulatory capital requirements. The content focuses on property-casualty insurers, with a small section devoted to risk-based capital for life insurers.

Learning Outcomes:

  • Explain how an insurer manages its risk and capital from both an efficiency and a regulatory perspective
  • Explain insurer cost of capital and optimal capital structure
  • Understand enterprise risk management (ERM) and how it applies to insurance companies
  • Discuss the role of internal audit in ERM, including risk-based audits and financial reporting risk

General Topics:

  • Risk management standards and guidelines
  • Insurer working capital management
  • Insurer regulatory capital
  • Insurer capital structure and allocation
  • Internal audit and control
  • Transferring financial risk
Instruction & Assessment

Instructional Strategies:

  • Case Studies
  • Practical Exercises

Methods of Assessment:

  • Examinations

Minimum Passing Score:

70%
Supplemental Materials