Please contact  https://www.zhaw.ch/en/sml/institutes-centres/iri/continuing-education/ for further information.

Risk Financing is a module of the Associate in Risk Management (ARM) and Associate of Reinsurance (ARE) Designation. This certificate provides students with a comprehensive overview of the techniques risk management professionals use to finance, or pay for, the negative consequences of risk events. These techniques usually incorporate a blend of risk retention and transfer.

Goals

The first part of the course provides a broad overview of risk financing as one of many risk treatment techniques. Student will be explained how risk financing alternatives should be examined in light of all of an organzations risks, including both pure an speculative risks. The middle part concentrates on alternative financing techniques for hazard risk including insurance, self-insurance, retrospective rating, reinsurance, captive insurance and contractual risk transfer. The mechanics, advantages and disadvantages of each technique are discussed in detail. The last part of the course covers financial risk and capital markets.

Benefits:

• Construct a solid background in the unique risk management needs of public entities.
• Develop a holistic view of public entity risk management with an understanding of specific stakeholders’ expectations.
• Manage claim and litigation costs through a technical understanding of the legal environment of public entities.

Target group

• Risk managers of all kind of industries and executives concerned with risk, commercial lines underwriting and reinsurance professionals, risk management consultants, chief executives in brokerage firms, agency principals, agents and brokers in commercial insurance fields
• Internationally oriented professionals

Topics

• Introduction to risk financing
• Estimating hazard risk
• Transferring hazard risk through insurance
• Self-insurance plans
• Retrospective rating plans
• Reinsurance 
• Captive insurance
• Contractual risk transfer
• Transferring financial risk
• Transferring hazard risk to the capital markets
• Allocating costs of managing hazard risk

Timeframe

Around 6 to 10 hours per week are recommended for this training (depending on your experience in the fields and previous studies). Prepare yourself to invest 4-6 hours for the prereading and getting familiar with the topics for each class (by reading the according assignment in the text book which are about 30 pages per week). 2 to 3 hours for attending the evening classes. It is also recommended to rework each assignment by doing the exercises in the course guide or reading the extra material shared with the students. Additionally, set aside time (including a 1 day seminar) to prepare for the exams. Before starting, please be aware to carefully schedule the 4 month period per module so that you have enough time alongside your vocational and personal activities.

Learning Design

Blended Learning Design

Course material

Text book, course guide and online exam preparation tool
Extra documentation, exercises and supplementary literature
One Exam

Exam

online only

Certificate

Electronic certificate after passing the exam ARM 56 successfully