Tied Insurance Intermediaries Certificate

Transcription

1 MALTA INTERNATIONAL TRAINING CENTRE Tied Insurance Intermediaries Certificate 15 th October 14 th December 2015 AL SERVICE OPERATIONS AND COMPLIANCE TG Complex, Suite 3 Level 1, Brewery Street, Mriehel BKR 3000 Tel: (00356) , Fax: (00356) info@mitcentre.com Website:

2 Objective This qualification is designed for those involved in insurance intermediary activities specifically in introducing, proposing or carrying out other work preparatory to the conclusion of contracts of insurance, or of concluding such contracts, or of assisting in the administration and performance of such contracts. Highlights Introduction to insurance and legal aspects. Various classes of insurance. Insurance market and practice. Local legislation and regulation. Intended Participants This course is suitable for those acting or intending to act as an insurance intermediary for the purpose of pursuing insurance intermediaries activities including a person providing services ancillary to other business of insurance as may be prescribed. Entry Requirements O Level standard of education (MQF Level 3) Learning Outcomes The candidate is expected to understand the general facts, principles and concepts of insurance and be able to explain insurance products to prospective clients without assistance. Potential Job Opportunities This programme will lead a successful candidate to perform general clerical duties and be involved in the sales of insurance policies, thus suitable for the following positions: Tied Insurance Intermediary Salesperson Call centre officer Course Assessment There will be 1 examination session of 1.5 hours duration, during which candidates will be expected to answer 50 Multiple-Choice questions. The pass mark is set at 60%.

3 Recognition This programme is recognised by the Malta Financial Services Authority as a pre-requisite (among others) for the issuance of a Tied Insurance Intermediary licence. Level within the National and European Qualifications Framework The Malta Qualifications Council deems this CPD Award of 6 credits to be at Level 3 on the Malta Qualifications Framework (MQF) and on the European Qualifications Framework (EQF) for Lifelong Learning. Duration The course consists of 24 contact hours, 16 sessions each of 1.5 hours duration. A further 75 hours of self study is required. Time hrs Organisers Malta International Training Centre Course Venue Malta International Training Centre, TG Complex, Suite 3 Level 1, Brewery Street, Mriehel BKR 3000 Fee 400 (includes tuition, course material, examination and certification) Discounts and Cancellation Policy Companies effecting group bookings (four or more participants) are entitled to a 10% discount. A 25% cancellation fee is payable in the event of cancellations received within 15 days of the commencement of the programme. No refund will be entitled after the commencement date of the programme. Terms of Payment In full upon registration unless otherwise agreed with MITC.

4 Programme Schedule Thursday 15 th October Monday 19 th October Thursday 22 nd October Monday 26 th October Thursday 29 th October Monday 2 nd November Thursday 5 th November Monday 9 th November Thursday 12 th November Monday 16 th November Thursday 19 th November Monday 23 rd November Thursday 26 th November Monday 30 th November Thursday 3 rd December Thursday 10 th December Monday 14 th December Introduction to Insurance & Underwriting Procedures Principles of Insurance The Insurance Market, Contract & Agency Law Underwriting procedures policy wording & renewals Motor Insurance Marine Insurance Property Ins: (Personal Lines) Household & Travel Insurance Property Ins: (Commercial Lines) Fire, All risk & others Pecuniary Insurance Liability Insurance Life Assurance Insurance of the person Reinsurance and Co-insurance Claims Handling and Management The Regulatory Framework Revision Exam (1.5 hours: hrs) Exam results will be dispatched by post on 5 th January 2016

5 Syllabus Introduction to Insurance Concept of Risk and Risk Management; Characteristics of insurable risks; Origins of Insurance Principles of Insurance Insurable Interest; Utmost good faith; Indemnity; Subrogation; Contribution; Proximate Cause The Insurance Market, Contract & Agency Law Basic aspects of marketing particularly current marketing techniques used by insurers and intermediaries; Outline of the components making up the Insurance market; A review of the Insurance Intermediaries Directives Contract and Agency Law Underwriting procedures, policy wording & Renewals General underwriting aspects involving quotations, proposal forms, slips, premium computation and related documentation Structure of the policy including the explanation of policy wording and clauses; warranties and conditions; excesses; deductibles and franchises Outline of the renewal procedure and use of related documentation Motor Insurance Underwriting aspects and policy wording Claim processing and settlement Marine Insurance Pleasure craft and marine cargo policies Property Insurance Personal Lines Household policies Travel policies Property Insurance Commercial Lines Fire and Special Perils and All Risks policies; Theft and Glass policies Pecuniary Insurance Money, Fidelity Guarantee and Business Interruption policies Liability Insurance Employers, Public, Products Liability and Professional Indemnity policies

6 Life assurance Life assurance policies and related products Insurance of the person Personal accident and sickness, health, permanent health, critical illness and dread disease policies Reinsurance and Co-insurance Principles and types of risk transfer arrangements by insurance companies Claims handling and management General aspects of claims management including procedures, investigation, the Malta Insurance Association and Arbitration The Regulatory Framework Role of MFSA; Outline of local legislation affecting the Insurance Industry, the obligations of insurance sub-agents under the Malta insurance legislation Revision Session EXAMINATION

7 Tied Insurance Intermediaries Certificate - Application Form Participant Details Name: Address: Mobile No.: Date of Birth: Sponsor Details Company Name: Company Address: Tel. No.: Fax No.: Fee: 400 per participant Important Deadlines Applications to be received by: 8 th October 2015 Intake Date: 15 th October 2015 Examination Date: 14 th December 2015 Please tick the box if you WISH to be included in our database which is used solely for marketing purposes Signature: Date: Malta International Training Centre Suite 3 Level 1, TG Complex, Brewery Street, Mriehel BKR info@mitcentre.com / website : Telephone (00356) , Fax (00356) Vat Reg no Company no C5663 NCFHE Licence no 113 MITC is licensed by The National Commission for Further and Higher Education as a Further and Higher Education Institution, is a member of the MFSA Education Consultative Council and Board Member of the European Certification Body EFICERT