Principles and Practice of Insurance

About Topics Classes Exam

About this course

C11 provides an overview of the insurance landscape in Canada and serves as the initial building block of Chartered Insurance Professional (CIP) studies. If you are looking to start a career in insurance or to complement your work experience with insurance education, this course is ideal.
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Areas of interest

Explore the concept of risk, and how insurance is a mechanism to transfer risk and benefit society.
Examine the key insurance industry functions of selling/distributing insurance, underwriting insurance policies, adjusting losses, and reinsuring risk.
Understand the elements needed to form an insurance contract.
Delve into the regulation of insurance in Canada, including policy wordings, professional licensing, ethics, and the role of insurance industry organizations.

Topics covered


  • Introduction to Risk and Insurance
  • Insurance Categories and Functions
  • Insurance Companies
  • Sales and Distribution of Insurance
  • Regulatory Framework
  • Insurance as a Contract: The Insurance Policy
  • Underwriting and Rating: Setting Insurance Rates
  • Insurance Documents and Processes
  • Claims
  • Industry Organizations; the Customer

Who should register

C11 must be one of the first four courses you take in the CIP program, and we highly recommend that you take this foundational course first.

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