Course

Course Summary
Credit Type:
Course
ACE ID:
AICP-0155
Organization's ID:
ARM 402
Organization:
American Institute For Chartered Property Casualty Underwriters/The Institutes
Location:
Hybrid
Length:
Self-paced (5-7 weeks)
Dates Offered:
Credit Recommendation & Competencies
Level Credits (SH) Subject
Upper-Division Baccalaureate 3 risk management
Description

Objective:

The course objective is to provide a knowledge base of how risk is treated in modern organizations using advanced techniques to avoid, retain, transfer, and modify risk, as well as benefit from the upside of risk. Also covered is the ability of emerging technology to reduce or prevent the negative effects of risk. The course discusses taking a portfolio approach to retaining and transferring risk, alternative risk financing techniques, methods for transferring financial risk and hazard risk to the capital markets, and detailed treatments for specific types of risk.

Learning Outcomes:

  • be familiar with using insurance to treat risk, large deductible plans, excess liability insurance, structuring an international insurance program, reinsurance and its functions, and types of reinsurance
  • know noninsurance contractual risk transfer, self-insurance plans, retrospective rating plans, captive insurance plans, and pools
  • explain intellectual property risk, copyrights, trademarks, service marks, and trade dress, patents, and trade secrets
  • know fleets as systems
  • controlling losses associated with motor vehicle safety systems
  • and technological advances in motor fleet safety
  • understand legal and regulatory risk, legal systems, and international law
  • legal and regulatory risk consequences
  • and modifying legal and regulatory risk
  • understand the role of internal control in treating operational risk, treatment of IT operational risks, and transferring operational risk to the capital markets
  • explain the application of derivatives to transfer financial risk, securitization, contingent capital arrangements, and regulatory capital
  • know the basics of strategic risk, strategic management, risk and strategy, applying strategic risk management, and conducting a SWOT analysis.
  • understand risk treatment fundamentals, the evolution of risk treatment, risk treatment applications, holistic treatment of risk, and risk treatment reporting

General Topics:

  • Basics of risk treatment
  • Insurance risk treatment
  • Alternative risk treatment
  • Intellectual property risk
  • Fleet risk
  • Legal and regulatory risk
  • Operational risk
  • Financial risk
  • Strategic risk
Instruction & Assessment

Instructional Strategies:

  • Practical Exercises

Methods of Assessment:

  • Examinations

Minimum Passing Score:

70%
Supplemental Materials