Institute of Professional Education And Knowledge (PEAK)

Postgraduate Diploma in Insurance in Risk Management 保險風險管理深造文憑

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Course Information

Price
HKD 7,800 CEF Reimbursable
(HKD 7,800 per module (8 modules for graduation))
Study Mode
Duration
240 Hour(s)
Language
English
Location
-
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Course Overview

This programme is recognised under the Qualifications Framework

QF Level: 6
QR Registration No.: 18/000158/L6
Validility Period: 01/05/2018 - 30/04/2022

Nowadays, most organizations highly regard risk management in their business strategies particularly in corporate governance.  Risk management and insurance are dynamic and highly competitive businesses and they are now inseparable.  Risk managers are expected to be able to evaluate a wide range of insurance tools, including the contemporary variety of specialized insurance products related to directors & officers, cyber, credit, mergers and acquisitions transactions, parametric, etc. in addition to the traditional insurance classes of property and liability, in formulating appropriate risk management frameworks.  

The PgDIRM provides students with a holistic training in both risk management and insurance to upgrade their skills and equip them with strategic-level of risk management and insurance knowledge, the latter being generally considered as the most practical and effective risk management solution.

Program Objectives:

The programme objectives of the PgDIRM programme are to:

  1. develop students’ professional skills in devising and planning effective and efficient methods and strategies for managing complex issues in the risk management and insurance fields;
  2. cultivate students’ integrity, ethics and commitment to risk management and insurance professional practices; and
  3. nurture students’ self-reflection and lifelong learning awareness of further professional development.

Programme Intended Learning Outcomes:

On completion of the programme, students will be able to:

  • assess and manage risk portfolios for risk prevention and management improvement in organizations;
  • develop corporate-level strategies and review risk management frameworks in compliance with regulatory requirements and ethical standards;
  • propose rules and regulations for governing risk management and for managing insurance and financial products and services in response to the market demand;
  • apply a board range of professional knowledge in risk management and insurance, and skills in leadership, communication and research to manage risk management functions within insurance and financial organizations; and
  • reflect on current professional practice to identify plans for further professional development.

Program Features and Highlights:

  • Postgraduate qualification that explores the multi-faceted world of risk management with the growing interplay between the fields of risk management, insurance and financial services, focusing on local law and practice
  • 8 modules each with 30 lecture hours ($7,800 per module until further adjustment), normally 3 trimesters each year commencing in January, May and September
  • Flexible modular structure with three core modules and a choice of five elective modules under the streams of insurance or risk management, to be completed within 4 years
  • Students are eligible to apply to the Mentorship Scheme to learn from seasoned professional / senior executive to make progress towards professional goals and broaden business networks 
  • Students completing any three PgDIRM modules are eligible for ANZIIF Associate Membership. Students completing any six PgDIRM modules are eligible for ANZIIF Senior Associate Membership.
  • Graduates have the advantage of having direct access to an international premier professional qualification of Fellowship of the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) by claiming 80 points towards the 100 points required for ANZIIF Fellowship; and before graduation by prior to applying to achieve the additional 25 points, after completion of 3 or 6 modules of the PgDIRM to become Associate member or Senior Associate member of ANZIIF respectively and must also meet the other Fellow criteria (details as per https://anziif.com/membership/membership-levels )
  • Graduates can be awarded up to a maximum 190 CII credits (90 at Advanced Diploma and 100 at Diploma level)
  • Graduates can be considered to apply for Master of Business Administration and Master of Applied Finance (in Risk Management or in Wealth Management) of the Open University of Hong Kong through Pathway 1 (please refer to the website of Open University of Hong Kong for the detials) as equivalent to satisfy the requirement of a recongnized Master’s degree in business
  • PgDIRM can be recognized as Type 3 or Type 5 Qualified CPD Activity with details as per Guideline on Continuing Professional Development for Licensed Insurance Intermediaries (“GL24”) issued by the Insurance Authority
  • PgDIRM “Law and Practice of Insurance” and “Financial Planning Management” can obtain exemption of Society of Registered Financial Planners (HKRFP)  “Insurance Planning”; PgDIRM “Financial Planning Management” can obtain exemption of HKRFP “Financial Planning”, “Tax Planning” and “Investment Planning”

Medium of Instruction:

All classes are conducted in English supplemented with Cantonese.

Entry Requirements:

­Applicants shall

  • hold a bachelor’s degree awarded by a recognised institution; and working full-time in related industries; OR
  • have achieved a level in relevant professional qualifications equivalent to a bachelor’s degree; and have one year of full-time work experience in related industries.

Applicants with other qualifications and three years of senior-level work experience in related industries will be considered on individual merits and subject to a satisfactory admission interview.

AND

English Proficiency Requirements
If the bachelor’s degree is not from an institution where the language of teaching and assessment is English, or if the relevant professional qualifications are not awarded in Hong Kong nor an English speaking country, applicants shall provide the following evidence of English proficiency:

  • an overall band score of 6.5 in IELTS; or
  • a TOEFL score of 550 (paper-based test) or 213 (computer-based test) or 79 (internet-based test); or
  • equivalent qualifications.

 

What You’ll Learn

Programme Structure

Learners must take 8 modules including three compulsory modules

  • PBA60001 Enterprise Risk Management
  • PBA60002 Law and Practice of Insurance
  • PBA60003 Managing Insurance Organizations and Self-insurance#

# The Pre-requisite of taking the Managing Insurance Organizations and Self-insurance module is to have passed the other 2 core modules plus at least three elective modules of the Programme

Remaining modules to be selected from the elective modules listed below:

Insurance Stream

  • PBA60004 Property Insurance Management
  • PBA60005 Liability Insurance Management
  • PBA60006 Marine Insurance Management
  • PBA60007 Life and Medical Insurance Management
  • PBA60008 Reinsurance Management

 

Risk Management Stream

  • PBA60009 Operational Risk Management
  • PBA60010 Financial Risk Management
  • PBA60011 Financial Planning Management
  • PBA60012 Corporate Governance and Compliance

It is preferable to start an elective module if students have some basic knowledge of the relevant subject.    Basic understanding of mathematical concepts is recommended in modules in the Risk Management Stream (except Corporate Governance and Compliance).



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