INSURANCE BROKERS TRAINING

The College of Insurance is one of the prestigious institutions approved by the IRDA for the purpose of conducting training programmes for Brokers who intend to take up the challenging role of distribution of Insurance Business in India.
We have already trained sixty participants in two batches and they undertook the licensing examination in the months of December, 02 and January, 03. It is heartening to note that the performance of the candidates in these examinations has been splendid and percentage of success is more that ninety. As a result, the above programme is now in such a great demand that we decided to conduct it in two batches in the month of February, 2003.
The IRDA has ordained that the Principal Officers of the broking companies ( company employees responsible for soliciting and procuring insurance business on behalf of the Companies) shall have to receive atleast one hundred hours of theoretical and practical training at one of the institutes recognised by the IRDA for the prupose.
Therefore Broking Firms and Companies are sponsoring their designated Principal Officers for requisite training at our College so that they can operate in the Insurance Market after passing the required examination. Similarly some of the participants are joining our training programme in individual capacity as well.
The fifth such training programme meant for the designated Principal Officers of the broking companies is going to commence at the College of Insurance from Monday 10th March, 2003. The programme shall continue upto 28/03/2003. The subjects to be covered as per IRDA directives are given here under:

Compulsory Subjects:

1. Insurance Broking
2. Principles of Insurance
3. Insurance Business Environment
4. Law and Economics of Insurance
5. Risk Management

	01 Mathematical Basis of Life Insurance 12 Fire Insurance Claims 02 Statistics 13 Cargo Loss Prevention 03 Life Assurance Underwriting 14 Commercial Geography 04 Application of Life Insurance 15 Marine Claims 05 Legal Aspects of Life Insurance 16 Marine Underwriting 06 Life Assurance Management 17 Marine Insurance Claims 07 Life Assurance Accounts 18 Agricultural Insurance 08 Hazards of Specific Industries 19 Motor Insurance 09 General Fire Hazards 20 Personal Accdt., Sickness & Misc. Ins. 10 Fire Insurance Underwriting 21 Liability Insurance 11 Liability Insurance 22 Engineering Insurance

Besides passing all the 5 subjects in the compulsory group, the Principal officers of the Direct Insurance Brokers will have to pass any 3 subjects out of the total 22 subjects mentioned in the optional list. That means the Principal officer has to pass 8 subjects in all ( 5 compulsory + 3 optional). The reinsurance broker will have to pass an additional subject of reinsurance (Principle & Practice) in addition to the 8 subjects as required by the Direct Broker. The optional subjects for life insurance brokers are listed in Sr.No.01 to 07 and those for General insurance are listed in Sr.No. 08 to 22. Please note that the first examination meant for the Principal officers of the broking companies will be taking place at the National Insurance Academy, Pune on Sunday the 29th December, 2002.
The course fee for covering 100 hrs of training at the College of Insurance is Rs.15000/- per participant. The participants must be nominated by the organisations and the nominations must be intimated to the College before the commencement of the programme. The course fee must be paid by Cheque/Demand Draft payable at Mumbai in favour of College of Insurance.

Programme Commences on : 14/12/2002       Duration - 2 weeks
Course Fee : Rs.15000/- Venue -IV Fl., College of Insurance , Gresham Assurance House