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The five-year master's program (for those with no previous university-level knowledge in mathematics, or without a bachelor's degree in mathematics) covers the subjects mathematics, mathematical statistics, insurance mathematics, financial mathematics, insurance law and insurance economics. The program operates under the Division of ...
The IAIS is responsible for developing principles, standards and other supporting material for the supervision of the insurance sector and assisting in their implementation. The IAIS also provides an international forum for members to share their experiences and understanding of insurance supervisions and insurance markets.
The exams must be completed over a period of up to two years; they are offered during four specific testing windows per year. [9] Historic individual exam pass rates, under the pre-2019 structure, were 54% for Exam II (mathematics), 59% for Exams I and III (finance, and risk management), and 78% for Exam IV (standards and case studies); [ 10 ...
The Fellow, Life Management Institute (FLMI) designation program, awards the FLMI designation to individuals who pass a series of 10 examinations; these insurance-focused examinations cover insurance, accounting, marketing, information systems, finance, law, management, and computers. [6]
The standardization of insurance education across Canada, with a uniform syllabus, uniform examinations, and consequently equal standing for all graduates regardless of education. A sound and equitable basis of company support of Insurance Institute work. To provide means of insurance education in other parts of Canada where it is needed. [24]
An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and ...
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language.
III is a chartered member of the Institute of Global Insurance Education. [5] The presence of 91 associated iInstitutes spread all over the country and the affiliation of the Sri Lanka Insurance Institute, the Sri Lanka Insurance Academy and The R.I.C.B. Insurance Institute, Bhutan, testify to the prestige and professional repute of the ...