C16: The Business of Insurance


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

The Business of Insurance is the capstone course in the CIP Program, and should be taken as the final (10th) course. While we strongly recommend this; if you chose not to do so, then C16 must be one of the last three courses taken within a minimum of five completed courses. Now that you have a basic technical knowledge of insurance and risk, you will be exposed to the insurance industry in its broader context.

The Business of Insurance explores the insurance industry’s relationship to its external environment and examines international issues associated with insurance. You will learn about financial concepts unique to the insurance industry. You will examine marketing in insurance, product pricing, broker and insurer relationships, the regulatory environment, and the general dynamics of how the insurance industry operates. The Business of Insurance course introduces you to the study of ethics and how it relates specifically to you and our industry.

Reminder: You must take The Business of Insurance  as one of the last three courses in your CIP Program.

Course Outline

• Insurance industry in Canada
• Insurance company structure
• Dynamics of the insurance marketplace
• Financial management
• Regulatory environment
• Marketing
• Relationships between sales intermediaries and insurers
• Pricing insurance coverages
• Emerging Issues and Trends in insurance
• Ethics, education, excellence

Who Should Register

All insurance courses offered by The Insurance Institute are designed for individuals who want to attain a highly recognized and respected professional designation in the p&c industry. The professional designation Chartered Insurance Professional (CIP) is recognized across Canada and elsewhere around the world as the benchmark of insurance professionalism.

The Business of Insurance is 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.