Insurance and Risk Management

*Domestic applicants include Canadian citizens, permanent residents, protected persons and Convention refugees.
Insurance and Risk Management is a one-year Ontario College Graduate Certificate program that will prepare students for careers as brokers/agents, risk managers, underwriters, loss adjusters or loss prevention inspectors. If you want to make a difference and build a future in a fast-paced, dynamic environment, this program is for you.
You’ll even graduate with credits that can be used toward the Chartered Insurance Professionals (CIP) designation offered by the Insurance Institute of Canada and the Canadian Risk Management (CRM) designation from the Global Risk Management Institute Inc. (GRMI).
Available in a traditional in-class format with a September and January admission.
This program is also available in a part-time, online format
Graduates of Fanshawe’s Insurance and Risk Management program can pursue a career as an agent/broker, claims adjuster, risk manager, underwriter, and more. Graduates have the knowledge and skills to begin in a variety of entry-level positions in a variety of commercial industries or the government.
Did you know Fanshawe consistently ranks high in graduate employment rates among large colleges in Ontario?
Here are some examples of career opportunities for graduates of Fanshawe’s Insurance and Risk Management program:
Loss Adjuster
Help those suffering from a loss receive entitled compensation and assistance to return to where they were before the loss occurred. Investigate insurance claims due to losses such as fires and car accidents. Arrange interim solutions and make recommendations regarding payment of benefits.
Insurance Broker / Agent
Help consumers choose the right insurance coverage to protect their cars, homes, businesses and belongings and manage all aspects of the insurance transaction.
Risk Manager
Protect the assets of organizations and identify potential risk exposures that may cause accident or loss. Recommend and implement preventative measures to minimize costs and damage should a loss occur.
The graduate has reliably demonstrated the ability to:
1. Analyze the role played by the property and casualty insurance industry in the Canadian and global economy.
2. Use current and relevant insurance industry-specific terminology in all stakeholder communications.
3. Identify, select and apply risk management concepts to the four major categories of risk: hazard, operational, financial and strategic.
4. Assess the techniques risk management professionals use to finance the negative consequences of risk events in multifaceted scenarios.
5. Recommend assessment and treatment techniques for the major categories of risk faced by an organization, with an emphasis on hazard risk.
6. Evaluate the clauses, terms and conditions of various insurance policy wordings in order to determine the appropriate coverage for complex risks.
7. Articulate an effective process to successfully address the adjustment, negotiation and settlement of an insurance claim.
8. Justify the acceptance or rejection of an application for insurance.
9. Evaluate the needs of a commercial and/or personal client in order to plan and recommend an insurance program that provides protection from identified exposures.
10. Lead a diverse work group, and motivate others to achieve personal and organizational goals.
11. Prepare and deliver an effective sales presentation using professional sales techniques.
Zan Vania, BA, B.Ed, CIP, CRM
Sarah Davies
A Two- or Three-Year College Diploma, or a Degree
(Note: minimum 'C+' average or cumulative 2.5 GPA)
OR
Acceptable combination of related work
experience and post-secondary education as judged by the
College*
OR
Five years of work experience in the financial services or
insurance industry as judged by the College to be equivalent*
Note:
Applicants whose first language is not English will be required to demonstrate proficiency in English by one of the following methods:
Where the number of eligible applicants exceeds the available spaces in the program, the Applicant Selection Criteria will be:
Level 1 | ||||
Take all of the following Mandatory Courses: | ||||
Group 1 | ||||
INSR-6004 | Principles & Practices of Insurance | 4 | ||
This course explores the principles and practices of insurance and establishes the relationship between participants in the industry. The concept of risk is explained and how insurance responds to it, including an analysis of the documents and processes, and the legal context of insurance. | ||||
INSR-6003 | Insurance On the Automobile | 4 | ||
This course explains the laws and basic principles of automobile insurance as they apply in Canada with a specific emphasis on Ontario automobile legislation. Policy forms and endorsements, conditions and provisions are appraised as they apply in complex coverage situations. The basis for determining automobile rates and underwriting philosophies relative to the availability of automobile insurance are also discussed. | ||||
INSR-6012 | Insurance On the Property | 4 | ||
This course summarizes the legislation and regulations that govern property insurance in Canada. The students will be able to differentiate between the Homeowner's forms for personal property insurance as it pertains to their perils, exclusions, extensions and endorsements. Students will also be able to distinguish other personal property policies based on the risks inherent for the clients and be able to recommend the appropriate policies. The course also introduces students to common Commercial Property policy wordings. Students will be able to apply their knowledge of property insurance in complex scenarios involving underwriting and claims. | ||||
INSR-6002 | Essential Skills for Brokers/Agents | 3 | ||
This course is an assessment of insurance practices from the broker/agent perspective. It is an applied course focusing on the evaluation of risks associated with personal lines and commercial risks. The broker/agent is identified as an insurance intermediary by relating the skills that a typical broker/agent will use to perform effectively. Students will progress from the initial contact with the client through the evaluation and application process to binding and policy documentation. | ||||
INSR-6005 | Risk Management | 3 | ||
This course focuses on an enterprise approach to commercial risk management, including a discussion of global risk management standards and guidelines. Students will explore risk beyond the traditional hazard risk to include financial and strategic risks. Risk identification and analysis tools and techniques will be discussed in detail. |
*Total program costs are approximate, subject to change and do not include the health and dental plan fee, bus pass fee or program general expenses.