Risk Management Program Policy and Procedures

This section describes the following types of policies and processes that apply to the Insurance Institute’s Risk Management Certificate Program:


Evaluation for this course will include participation in online discussions, assignments, and a final assessment.

Program Information


Course assignments provide practical application and cumulatively build knowledge and skills in risk management.  Consequently, a request to defer an assignment may impact subsequent learning and marking. Requests for an assignment extension must be submitted to your course facilitator. All assignments must be completed by the course end date, so that grades can be calculated and communicated to students.


Given that the final grade is based on marks received for participation, assignment and mid-term/ final exam, it is not possible to rewrite exams. Courses that are not completed successfully must be retaken.


If you wish to withdraw from a course, you must submit a written request by letter or email to the Insurance Institute. The following deadlines apply for submission of withdrawal requests:

• Two weeks after the course start date – deadline to obtain entire refund of course tuition less an administrative fee of $50 (plus GST or HST)
• Six weeks after the course start date – deadline to withdraw without receiving a failing grade; no fees are refunded


Appeals are intended to assist students who were unsuccessful in a course or who believe their assignments to be of an honours calibre, by having their work reviewed by an independent marker.

If you wish to appeal, you must submit a written request by letter or email to the Insurance Institute within 30 days of the publication date on the website.

There are three appeal options:

• Re-evaluation - available to students who obtained an unsuccessful final grade (X, Y, or Z) to check the addition, transposition of marks and an assessment of the accuracy of the original marking.
• Re-assessment - available to all students, regardless of final grade, to check the addition and transposition of marks and a review of answers with less than 60% score to ensure the original marking was representative of the student’s answer.
• Re-calculation - available to all students, regardless of final grade, to check the addition and numerical transposition of marks.


A complete list of courses taken is available on the “My Student Records” area of the Institute’s website.

For an official transcript, complete the Transcript Request Form on the “Examinations” area of the website and submit to the Institute along with payment of $21.00 plus GST or HST.

Transcripts are only available for paid-up members of the Institute.

Registration Requirements

To register for the program, you must be a member of the Insurance Institute (IIC).

Transferring to the Insurance Institute

While there is a recommended progression for the Risk Management certificate, you can take any single course with the Insurance Institute. So you can continue your risk management education/designation with the Institute even if you completed any of the required risk courses at another post-secondary institute.

The Risk Management program offered by the Insurance Institute has been designed with an insurance focus - in content, delivery and evaluation, to support employees in the insurance industry. Consequently, risk management courses completed at other institutions may not be applied towards the Institute’s Risk Management Certificate or counted as an elective towards the Chartered Insurance Professional designation.

You are responsible for obtaining transcripts from other post-secondary institutions to submit to Global Risk Management Institute Inc. (GRMI) to obtain your Canadian Risk Management (CRM) designation. 

Delivery Method

The delivery of this program combines the features of the classroom and self-study experience in a facilitated online format. This blended-learning method is primarily self-directed with online discussion boards that are facilitated by an instructor. Using your computer, you will be able to participate actively, complete assignments, ask questions and network with your peers.

To ensure that you can fully access the learning management system and complete the courses, you will need a computer.


The textbooks and study guides used in the Risk Management Certificate program are the building blocks in risk management knowledge. They are recognized internationally by risk management societies and used by post-secondary institutions across Canada.

The IIC provides a Canadian perspective with an insurance focus throughout the course and with the following supplementary materials. 

  1. Michael W. Elliott, Risk Management Principles and Practices, 1st edition.
    (Malvern, Pennsylvania: The Institutes. 2012)

  2. Michael W. Elliott, Risk Assessment and Treatments, 1st edition.
    (Malvern, Pennsylvania: The Institutes. 2012)

  3. Michael W. Elliott, Risk Financing, 6th edition.
    (Malvern, Pennsylvania: The Institutes. 2012)


Application towards CIP Elective Courses

After successful completing this three-course certificate, you can use them in place of the required two elective courses in the Institute’s Chartered Insurance Professional (CIP) designation program.

Certification/ Designation

Once you successfully complete the program with the Insurance Institute, you will earn the Institute’s certificate in Risk Management.

In addition, the three courses are recognized by RIMS, the risk management society, so you can pursue the Canadian Risk Management (CRM) designation with the Global Risk Management Institute Inc. (GRMI).

To receive your CRM designation, you must:

  • Become a candidate with GRMI
  • Provide transcripts from the Insurance Institute/other institutions along with the testing/processing fee
  • Pass the corresponding three exams with GRMI
  • Become a member of RIMS, the risk management society and maintain annual membership

Additional information is located on the RIMS website.