C11: Principles and Practice of Insurance

This course is not available for registration at this time. Please see the Key Dates on the Program Courses page for further information.

Please note that the final examination for this course is a computer-based exam.

Principles and Practice of Insurance must be one of the first four courses you take in the CIP Program. We highly recommend that you take this insurance foundation course first. Principles and Practice of Insurance is an overview—the initial building block of your CIP Program and CIP certification.

You are introduced to risk and shown how insurance deals with it. You study the basic concepts and language of insurance; the legal context of insurance; and the participants in the industry and their relationship to each other. Specific types of insurance are not discussed. The principles you learn here underlie every situation you will encounter in insurance and every policy and course you will study.

Course Outline

• Risk and insurance
• History and the functions of insurance
• Ratemaking, underwriting, and rating
• The insurer
• Insurance distribution and insurance intermediaries
• The law and the judicial system
• The law of contract: common law and the Civil Code of Québec
• The insurance contract
• Insurance documents and processes
• Adjusters and the claims process
• Reinsurance
• Insurance organizations
• The customer

Download the new free app, IIC Mobile Learning , and gain access to The Dictionary of Insurance and one free question pack of 10 multiple choice questions to help you study for your C11 exam. Additional question packs for C11 are available for in-app purchase. Get the app to help with your studying today.

Who Should Register

Like all of the insurance courses offered by The Insurance Institute, Principles and Practice of Insurance is intended for individuals who want to attain a highly recognized and respected professional designation in the p&c industry. This course is also for industry professionals, including brokers and agents, underwriters and adjusters, who want a comprehensive p&c education and the skills and knowledge required to advance their careers. The professional designation Chartered Insurance Professional (CIP) is recognized across Canada and elsewhere around the world as the benchmark of insurance professionalism.

Principles and Practice of Insurance Exemptions

With a completed provincial agent/broker license, you may be eligible for a credit for C11. Learn more about credits in the CIP Program.