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Course Description

Due to the restrictions imposed by COVID-19, we are unable to offer the Canadian Risk Management courses in a classroom format. We are currently seeking options for online delivery and will update the website as soon as a solution is found.  Thank you for your patience.

 

The course will consist of blocks of lecture time with the instructor, readings and group and/or individual work spread out over the scheduled time.  If you are currently registered for this course, we have been in contact with you already.  If not, you may register for this online version of Risk Financing by clicking on the Add to Cart button.

Please Note: The courses are typically taken in sequence but students may register for the Risk Assessment and Treatment and Risk Financing courses before completing Risk Management Principles and Practices.

Risk financing includes the selection, implementation and monitoring of risk financing techniques, including: insurance, self-insurance, captives, finite and integrated risk, and capital market options. Subjects discussed include:  allocating hazard risk financing costs, transferring financial risks via contractual arrangements, insurance regulation, and types of insurance.

Who Should Attend

Risk Managers, Human Resource Managers, Purchasing Professionals, Safety Managers, Environmental Managers, Insurance Underwriters, Insurance Claims Adjusters and Examiners, Insurance Buyers, Finance Professionals, Managers in the Public Sector and Legal Professionals.

What You Will Learn

Upon successful completion of this course, you should be able to:

  • Understand insurance and insurance regulation
  • Understand the following risk financing techniques: Self-insurance, retrospective rating plans, captive insurance companies, finite and integrated risk, capital market products
  • Understand: how to estimate hazard risk; how to allocate costs of financing hazard risk; how to transfer risk financing via contract

Course Outline

All full days (1, 2, 4, 5) will run from 8:30 am – 4:00 pm with a light lunch provided. Please plan to arrive by 8:15 am on Day 1 to allow for registration. The two half days (3 & 6) will run from 8:30 am – noon and will not include lunch.

  • Introduction to Risk Financing
  • Estimating Hazard Risk
  • Transferring Hazard Risk Through Insurance
  • Self-insurance Plans
  • Retrospective rating plans
  • Reinsurance
  • Captive Insurance
  • Contractual Risk Transfer
  • Transferring Financial Risk
  • Transferring Hazard Risk to the Capital Markets
  • Allocating Costs of Managing Hazard Risk

Instructor

Karen MacWilliam is a self-employed consultant specializing in risk management and insurance analysis. She has worked in the insurance and risk management fields since 1985 as an underwriter, corporate risk manager and broker, and has operated a successful consultancy since 1997. Clients include a wide variety of public and private corporations. She holds a B.A. in Economics from UBC, her AIIC, FIIC designations from the Insurance Institute of Canada, and the CRM designation. She has been on staff at Simon Fraser University at Harbour Centre in Vancouver from 1992 -2015 teaching risk management and advanced insurance curriculum, and has been a lecturer in risk management at the University of Northern British Columbia in Prince George from 2003 - 2010. Karen is a sought-after trainer for private clients and the Insurance Brokers’ Associations in B.C. and Alberta, and the Insurance Institutes in Northern Alberta, Southern Alberta, and Nova Scotia. In 2001, Karen authored a 200-page risk management and insurance reference book titled The Risk Management and Insurance Guidebook for Industry,© ABS/Government Institutes of Rockville, MD, which is the basis for an online study program and is used as a text by international colleges. In 2004, she was engaged by the Risk and Insurance Management Society (RIMS) to author the Canadian Supplement to the Risk Financing course in the CRM designation.  She has created Canadian content for all 3 CRM courses.

Notes

For more Risk Management courses, click here.

Testimonials

"Outstanding instructor! Great understanding of material, utilizes real world examples and does it all with humour and wit."

Lisa MacDonald
May 4-6 & 25-27, 2015

"Loved the course - looking forward to more opportunities to apply in work environment. The instructor was Excellent, knowledgable - interacted really well with all participants - ensured everyone was involved."

Georgina Fitzpatrick, Risk Manager
Credit Union Central of Nova Scotia
May 17-19 & June 7-9, 2010

 

Applies Towards the Following Certificates

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Thank you for your interest in this course. Unfortunately, the course you have selected is currently not open for enrolment. Please complete a Course Inquiry so that we may promptly notify you when enrolment opens.
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