Insurance and Risk Management

This one-year post-grad program is designed for university and college graduates looking for a career in the insurance and risk management sector. As a student in this program, you’ll take courses in the principles and practices of Insurance, risk management, essential skills for brokers/agents, leadership principles and practices, and professional communications. You’ll also analyze and apply complex liability policy and other miscellaneous liability coverages using different scenarios and case studies.

Start a rewarding career in risk assessment and insurance - 2022/2023

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.

Career Information

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.

Learning Outcomes

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.

 

Program Availability

Canadian Students

Start Dates
Locations
Availability

Full Time Offerings

2022 September
London
Open
2023 January
London
Open

International Students

Start Dates
Locations
Availability

Full Time Offerings

2022 September
London
Open
2023 January
London
Open

Program Details

Program Code
IRM1

Program Coordinator:

Cyndi Hornby, C.I.P., CRM

Delivery
Day Time
Full-Time
Credential
Ontario College Graduate Certificate
Duration
30 weeks

Admission Requirements

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 may be required to submit a resume and cover letter that includes details of work experience.
English Language Requirements

English Language Requirements

Applicants whose first language is not English will be required to demonstrate proficiency in English by one of the following methods:

  • A Grade 12 College Stream or University Stream English credit from an Ontario Secondary School, or equivalent, depending on the program's Admission Requirements
  • Test of English as a Foreign Language (TOEFL) test with a minimum score of 88 for the Internet-based test (iBT), with test results within the last two years
  • International English Language Testing System (IELTS) Academic test with an overall score of 6.5 with no score less than 6.0 in any of the four bands, with test results within the last two years.  SDS Program Requirements.  
  • Canadian Academic English Language (CAEL) test with an overall score of 70 with no score less than 60 in any of the four bands, with test results within the last two years
  • Pearson Test of English Academic (PTE) with a minimum score of 59, with test results within the last two years
  • A Cambridge English Test (FCE/CAE/CPE) with an overall score on the Cambridge English Scale of 176 with no language skill less than 169, with test results within the last two years
  • An English Language Evaluation (ELE) at Fanshawe College with a minimum score of 75% in all sections of the test, with test results within the last two years
  • Fanshawe College ESL4/GAP5 students: Minimum grade of 80% in ESL4/GAP5 Level 9 or 75% in ESL4/GAP5 Level 10
Recommended Academic Preparation

Recommended Academic Preparation

  • It is highly recommended that students be proficient in the following areas before entry into the program:
    -  Mathematics
    -  Business Communication
    -  Computer applications, particularly Microsoft Word, Excel and PowerPoint
Recommended Personal Preparation

Recommended Personal Preparation

  • Strong interpersonal skills
  • Ability to work in a team environment
  • Exposure to business world through part time employment or business related courses.
  • Presentation/public speaking skills
Advanced Standing

Advanced Standing

  • Applicants may apply for advanced standing on the basis of previous academic achievement at another institution and/or Prior Learning Assessment and Recognition (PLAR). Advanced standing qualifies the applicant for direct entry to a second or higher level of the program. 
Applicant Selection Criteria

Applicant Selection Criteria

Where the number of eligible applicants exceeds the available spaces in the program, the Applicant Selection Criteria will be:

  1. Preference for Permanent Residents of Ontario
  2. Receipt of Application by February 1st (After this date, Fanshawe College will consider applicants on a first-come, first-served basis until the program is full)
  3. Achievement in the Admission Requirements

Tuition Summary

London

Canadian Costs
$4,194.17
Total Cost of Program
International Costs
$15,706.94
Total Cost of Program

*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.

 

Courses

Level 1
Take all of the following Mandatory Courses:

Group 1
INSR-6004Principles & Practices of Insurance4
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-6003Insurance On the Automobile4
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-6012Insurance On the Property4
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-6002Essential Skills for Brokers/Agents3
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-6005Risk Management3
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.
View all courses

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