CORE COURSE
9 CPE credits are available for the successful completion of this course
Course cost to non-designation students – $1050
To understand the role of the captive as an alternative risk financing mechanism, it is necessary to begin with an understanding of the overall purpose and process of organizational risk management and the difficulties encountered when identifying and quantifying the impact of operational risk on an organization. The captive can be used to facilitate the management of operational risk. Its use in the risk management process improves the ability to quantify risk and provides an incentive to control its financial impact.
In this course, participants will learn the fundamentals of risk management and insurance that are the foundation upon which the captive insurance industry is built. The focus is on risk: what it means, how it is managed, and how it can be financed. The goal is to understand the element of risk that must be present if risk is to be managed using an insurance mechanism, and how insurance differs from other risk financing mechanisms. Participants will examine the use of a captive for retention management, and the operating cost differential between self-insurance, commercial insurance, and captive insurance.
Key course takeaways:
- Define the fundamental terms used in identifying, categorizing, and measuring risk
- Describe the risk management framework and the risk management process
- Explain total cost of risk and how it impacts an organization’s capital investments and cash flows
- Describe various forms of insurance and non-insurance risk financing techniques
- Explain methods for reducing the net cost of risk
Online course
In addition to self-paced reading and assignment work, students will be required to attend five webconference sessions and complete one week of follow up assignments. There are no prerequisite requirements for this course. Prior to the first webconference participants need to access Canvas to review webconference directions and course material.
Instructors for this offering: Bruce Whitmore and Jonathan Habart
Registration Deadline: January 25, 2024 or until full
Webconference one, Thursday, February 1st, from 12:00 noon – 1:15 p.m. ET
Webconference two, Thursday, February 8th, from 12:00 noon – 1:15 p.m. ET
Webconference three, Thursday, February 15th, from 12:00 noon – 1:15 p.m. ET
Webconference four, Thursday, February 22nd, from 12:00 noon – 1:15 p.m. ET
Webconference five, Thursday, February 29th, from 12:00 noon – 1:15 p.m. ET
The course will be offered again in the Fall 2024.
For further details please contact at ICCIE at 802-651-9050.
International Center for Captive Insurance Education (ICCIE) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing education on the National Registry of CPE Sponsors. State boards of accountancy 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
In accordance with the standards of the National Registry of CPE Sponsors, CPE credits have been granted based on a 50-minute hour.