IRM

The Introduction to Risk Management Program

Insurance is all about managing risk and providing financial compensation in the event of a loss. This program introduces you to the field of risk management and gives you a basic understanding of what risk managers do, how they do it and why risk management is so important. You will learn how risk management fits into your organizational structure and how it helps your brokerage achieve its business goals.

Program Overview
Introduction to Risk Management consists of six assignments that take a case study approach which will assist you in preparing for the national exam.

Through various scenarios depicting personal and business situations, the Introduction to Risk Management program offers a brief but concentrated way for you to learn:

  • The language of risk management
  • Terms and ideas commonly used by risk managers
  • An overview of the risk management process and a systematic approach to the analyses and treatment of loss exposures
  • How risk management fits into organizational structures
  • How risk management objectives serve to support organizational settings
  • How numerous people in various roles work together to perform the risk management function

Program Outline

Gain Risk Management Knowledge
If you are new to the study of risk management, this program is for you. You will also benefit if you are more experienced in the insurance industry, but have little or no formal risk management education. Regardless of your experience, this program will increase your understanding of the risk management process, your confidence in dealing with risk management professionals, and your knowledge of the risk manager’s role in a brokerage, corporation, or public entity.

Topics Covered
Losses, Loss Exposures and Risk Management; The Risk Management Process; Risk Financing; Risk Control Techniques; Risk Management in an Organization; The Risk Manager’s Role; Pre-and Post-Loss Objectives; Disaster Planning; Personnel Exposure formats.

There are two different ways to study the Introduction to Risk Management course:

  • Attend a workshop or seminar where available
  • Self Study

The Scope of IRM Course
Introduction to Risk Management confirms the true value of Risk Management techniques, and the necessity of risk management in today’s complicated commercial market place. This course also serves as a refresher course combining many facts that we have learned through the insurance industry and applies them when managing risk for a client.

Who Should Take This Course?
Commercial Customer Service Representatives (CSRs) should take the Introduction to Risk Management course to give them a rounded approach when analyzing clients’ policies. Commercial Producers should take this course to assist when working with a client to provide the ultimate protection. Managers should take this course to gain a better understanding of coverage vs. risk, and to be a better resource for their employees in reducing Errors and Omissions.

Results
This program provides great value to brokerages by making the employee more of an asset to the client and making the client more loyal to the brokerage and the CSR/Producer. In turn, it will make the CSR/Producer more productive and a better sales person, and increases personnel retention.

For more information or to register, contact a professional development specialist in your provincial insurance brokers association. »