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Risk Management: Insuring Against Risk - Revised

Learn about the importance of insuring against risk and explore the most important types of insurance and insurers.

Risk Management
Free Course
This free online risk management course will teach business professionals how to decide which type of insurance is most suited for their current risk management needs. We live in a world of uncertainty, and there are countless facets of life that are beyond our control. The world of business is no exception, with financial stability often being often challenged by legal liabilities, strategic management errors, accidents, and natural disasters.
  • Duration

    2-3 Hours
  • Assessment

    Yes
  • Certification

    Yes
  • Responsive

    Yes

Description

Modules

Outcome

Certification

View course modules

Description

Insurance companies abound these days and it is oftentimes hard to choose which of them is worth your hard earned money. This course kicks off by giving you an in-depth understanding of the nature of insurance, the types of insurance, and how they differ from each other. You will then look into the common phrases and terms used in the insurance industry and learn about the processes insurers go through when deciding whether or not to cover an exposure.

You will then study the internal operations of insurance companies as they accept the risks faced by their customers. By reviewing how both sides of an insurance business operates, you will further understand how they invest premiums from their customers in order to offer them coverage if ever they need it. This course will also discuss a variety of case studies based on real-life events, which will help you understand the application of risk management theory. It will also tackle the basic requirements and characteristics of insurance contracts.

There are several types of risks in business, which include competition, economic factors, and market volatility. This means that businesses everywhere need professionals who can assess the risk in their day-to-day operations, and consequently decide what type of insurance they need to purchase. By the end of this course, you will have much stronger understanding of how to insure against risk and how insurance premiums are calculated. This is truly useful knowledge, so check out the course today and start learning something really practical.

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Learning Outcomes

After completing this course you will be able to:


  • Explain types of insurance and insurers.
  • Define the law of large numbers as the essence of insurance.
  • Summarize why certain risks cannot be insured by private insurance companies.
  • Describe the functions of governmental insurance organizations.
  • Discuss various marketing activities within different segments of the insurance industry.
  • Explain how insurance agents and brokers differ.
  • Outline the main features of the underwriting and claims adjustment processes.
  • Summarize the role of actuaries in insurance operations.
  • Demonstrate how reinsurance works.
  • Discuss ethical considerations when making representations to underwriters.

Certification

All Alison courses are free to enrol, study and complete. To successfully complete this Certificate course and become an Alison Graduate, you need to achieve 80% or higher in each course assessment. Once you have completed this Certificate course, you have the option to acquire official Certification, which is a great way to share your achievement with the world. Your Alison Certification is:

Ideal for sharing with potential employers - include it in your CV, professional social media profiles and job applications
An indication of your commitment to continuously learn, upskill and achieve high results
An incentive for you to continue empowering yourself through lifelong learning

Alison offers 3 types of Certification for completed Certificate courses:

Digital Certificate - a downloadable Certificate in PDF format, immediately available to you when you complete your purchase
Certificate - a physical version of your officially branded and security-marked Certificate, posted to you with FREE shipping
Framed Certificate - a physical version of your officially branded and security-marked Certificate in a stylish frame, posted to you with FREE shipping

All Certification is available to purchase through the Alison Shop. For more information on purchasing Alison Certification, please visit our faqs. If you decide not to purchase your Alison Certification, you can still demonstrate your achievement by sharing your Learner Record or Learner Achievement Verification, both of which are accessible from your Dashboard. For more details on our Certification pricing, please visit our Pricing Page.

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