An Interactive 5-Day Training Course
Insurance and Risk Management
Trusting Continuity and Survival for People and Organisations
Course Overview
Today, all people and businesses face a vast number of risks and threats that affect well being and surviving. The continuous and rapid change of the business environment (environmental, climate, technological, economic, social, demographic, etc.) constantly create new and complex risks that need continuous and professional handling and management skills in general. This requires further learning and training of professionals in effective risk management applications, and the selection of the most suitable insurance plans.
Insurance is a way of transferring risk, and it is used as the risk reducing way for People and Corporates to achieve financial protection. Nobody owns and drives a car without motor insurance, and while your liability as a private or professional body may not require that you have indemnity protection, would you really consider leaving these risks unprotected? Would you risk your family’s well-being in case of an unexpected tragic event? Insurance is largely untroubled by economic downturns since many insurance products are a necessary part of our multi-risk lives. Insurance is no different from any other business opportunity. But it also comes with some unique considerations.
This Insurance and Risk Management training course will highlight:
- The ways of handling risks based on willingness to tolerate risks
- Risk management into the business decision-making process
- The process of risk management
- The usefulness of Insurance for People and Corporations
- Concepts, principles, and legal issues of insurance
- The various types of Insurance Products and their usefulness
Training Outline
DAY 1: Risk in our lives
- Purpose framework and criteria of risk analysis
- Types of Risk
- The meaning of uncertainty and risk
- The risk assessment
- Identification of risks
- Risk analysis and classification
DAY 2: Insurance Perils and Hazards
- Definition and objectives of insurance
- Suppliers and intermediaries: other channels of insurance distribution
- The common fund – functions of insurance
- The terms “peril” and “hazard” and the insurability
- The policy contract, the proposal, and other insurance documents
- Underwriting procedures, claims handling, and indemnification
DAY 3: Risk Management Standards
- Principles of risk management
- The risk management process
- Avoidance - elimination - reduction and acceptance of risks
- Transfer of risk – insurable and uninsurable risks
- Recording and reporting - communication and consultation
- Monitoring – review - evaluation
DAY 4: Operations and Regulations of Risk and insurance
- Reinsurance and coinsurance
- The principles of utmost good faith: insurable interest and the proximate cause
- The insurance law, licensing, and intermediary registers
- Solvency and capital requirements
- The code of ethics of insurance
- Information obligations of insurance
DAY 5: Insurance Needs and Products
- How does insurance work?
- Insurance needs for holistic plans
- Life and savings sector
- Property and casualty sector
- General liability sector
- Personal insurance sector – accidents and health
Certificates
- On successful completion of this training course, GLOMACS Certificate will be awarded to the delegates
- Continuing Professional Education credits (CPE) : In accordance with the standards of the National Registry of CPE Sponsor, one CPE credit is granted per 50 minutes of attendance
Accreditation
GLOMACS is registered with NASBA as a sponsor of Continuing Professional Education (CPE) on the National Registry of CPE Sponsors. NASBA have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.
All Training Seminars delivered by GLOMACS by default are eligible for CPE Credit.
Providers and Associations
About Saudi Glomacs
At Saudi GLOMACS, we specialize in delivering world-class training courses in Saudi Arabia and across various international locations. Our training courses are tailored to meet the unique demands of Saudi Vision 2030 and the Human Capability Development Program, focusing on empowering Saudi citizens and enhancing workforce skills. We offer diverse courses spanning leadership, management, engineering, and technical disciplines to cultivate expertise and drive professional growth. Our flexible learning options—whether in-person, online, or in-house—ensure accessibility and convenience for individuals and organizations alike.
With over 30+ years of experience through the GLOMACS global network, we are committed to delivering innovative, results-driven training solutions. Our expert instructors combine industry knowledge with dynamic teaching methods, fostering practical skill development and long-term career success. By choosing Saudi GLOMACS, you're investing in personal excellence and contributing to the Kingdom’s sustainable economic growth and vision-driven transformation.
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