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Course in Catastrophe Funds and Climate Reinsurance

300-hour online course in catastrophe funds and climate reinsurance. 6 modules covering Royal Legislative Decree 7/2004 (Statute of the Insurance Compensation Consortium), Royal Decree 300/2004 (Regulation on extraordinary risk insurance) and Oasis LMF. Assigned tutor and open enrolment.

Duration300 h
ModeOnline
LanguageEnglish
Start datesSet by the faculty
AwardSEIUM Institute certificate
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Learning outcomes

What you will be able to do

01

Explain the financing mechanisms for catastrophe risk.

02

Design the structure of a catastrophe fund or pool.

03

Determine capitalisation and reinsurance transfer strategies.

04

Model losses and set technical premiums for a scheme.

05

Plan the operation of the fund in the event of a disaster.

06

Compare the Spanish Consortium with other international schemes.

07

Propose a climate reinsurance scheme for a real case.

Profile

Who it's for

  • Catastrophe risk analyst who wants to specialise in catastrophe funds and climate reinsurance.
  • Catastrophe fund manager who wants to specialise in catastrophe funds and climate reinsurance.
  • Non-life actuary who wants to specialise in catastrophe funds and climate reinsurance.
  • Disaster risk financing specialist who wants to specialise in catastrophe funds and climate reinsurance.
  • Consultant to multilateral organisations who wants to specialise in catastrophe funds and climate reinsurance.
  • Catastrophe modeller who wants to specialise in catastrophe funds and climate reinsurance.
  • Engineering or science graduates seeking to enter reinsurance.
Standards & tools

What you'll work with

  • Royal Legislative Decree 7/2004 (Statute of the Insurance Compensation Consortium)
  • Royal Decree 300/2004 (Regulation on extraordinary risk insurance)
  • Sendai Framework for Disaster Risk Reduction 2015-2030
  • Directive 2009/138/EC (Solvency II)
  • Delegated Regulation (EU) 2015/35 (catastrophe risk)
  • Regulation (EC) 2012/2002 (EU Solidarity Fund)
  • IFRS 17
Syllabus

6 modules · 300 h

  1. 1.1Why a country or region creates a fund
  2. 1.2Protection gap and how it is measured
  3. 1.3Public, private and mixed models
  4. 1.4Well-known national schemes
  5. 1.5Regional funds across countries
  6. 1.6The role of reinsurance in the scheme
  7. 1.7Sector vocabulary and acronyms
  8. 1.8Coverage and equity objectives
  9. 1.9Financial sustainability of the fund
  10. 1.10Exercise: comparing two national schemes
  1. 2.1Covered perils and their definition
  2. 2.2Compulsory versus voluntary participation
  3. 2.3Premium collection base and its equity
  4. 2.4Single or risk-differentiated premium
  5. 2.5Limits, deductibles and caps
  6. 2.6Relationship with private insurance
  7. 2.7Governance and independence of the fund
  8. 2.8Transparency and accountability
  9. 2.9Periodic review of the design
  10. 2.10Practice: designing a national scheme
  1. 3.1Building up reserves over time
  2. 3.2Reserve capacity against an event
  3. 3.3Reinsurance of the fund and its structure
  4. 3.4Sovereign catastrophe bonds
  5. 3.5Contingent credit lines
  6. 3.6State guarantees
  7. 3.7Cost of each layer of financing
  8. 3.8Optimising the structure
  9. 3.9Stress testing the fund
  10. 3.10Practice: designing the financial structure
  1. 4.1Catastrophe models for the scheme
  2. 4.2Estimating expected loss
  3. 4.3Loss exceedance curves
  4. 4.4The effect of climate change
  5. 4.5Uncertainty and prudence margins
  6. 4.6Technical price versus political price
  7. 4.7Cross-subsidy and the debate around it
  8. 4.8Prevention incentives in the price
  9. 4.9Periodic review of the model
  10. 4.10Practice: calculating the technical premium
  1. 5.1Collection and management of funds
  2. 5.2Loss adjustment and payment after an event
  3. 5.3Coordination with private insurers
  4. 5.4Logistics of a mass claim event
  5. 5.5Prevention financed by the fund
  6. 5.6Communication with the public
  7. 5.7Supervision and audit of the fund
  8. 5.8Performance indicators
  9. 5.9Lessons after a major event
  10. 5.10Practice: fund activation protocol
  1. 6.1Choice of country or region
  2. 6.2Analysis of the protection gap
  3. 6.3Design of the proposed scheme
  4. 6.4Financing and reinsurance structure
  5. 6.5Modelling and technical premium
  6. 6.6Governance and transparency
  7. 6.7Activation and payment protocol
  8. 6.8Monitoring indicators
  9. 6.9Scheme report
  10. 6.10Project defence
Methodology, software & labs

How you'll learn

Fully 100% online training on the SEIUM campus, with downloadable material, recorded classes and an assigned technical tutor. No fixed timetable: students progress at their own pace within the intake, which makes it possible to combine study with work.

Each module combines theory, guided reading of the original standard and applied exercises. The working software is Oasis LMF, Verisk Touchstone, Moody’s RMS, R, in free, academic or evaluation versions. Case studies are based on real procedures for designing catastrophe pool schemes, event and fund depletion simulations, and comparison of international public schemes. Assessment is continuous by module plus the final integrative project.

Accreditable laboratories(EN ISO/IEC 17025) with rotor test rig, EMC/Lightning pre-compliance, HIL/SIL, vibration/acoustics.
Evidence-oriented final project:safety case, test plan, compliance dossier and operational limits.
Industry-led mentoring:faculty with a track record in training, , eVTOL/UAM and flight test.
Flexible format(hybrid/online), international cohorts and support from SEIUM Career Services.
Ethics and safety:a safety-by-design approach, OT cyber security, DIH and compliance as core pillars.
Capstone project

Build it end to end

Your final project follows the real engineering workflow, step by step, reviewed by your tutor.

Choice of country or region

Explain the financing mechanisms for catastrophe risk.

Analysis of the protection gap

Design the structure of a catastrophe fund or pool.

Design of the proposed scheme

Determine capitalisation and reinsurance transfer strategies.

Financing and reinsurance structure

Model losses and set technical premiums for a scheme.

Modelling and technical premium

Plan the operation of the fund in the event of a disaster.

Career opportunities

Where this takes you

Catastrophe risk analystCatastrophe fund managerNon-life actuaryDisaster risk financing specialistConsultant to multilateral organisationsCatastrophe modeller
Admissions & scholarships

Requirements

  • No prior degree is required.
  • Internet connection and a computer capable of running the programme’s software.
  • Sufficient command of Spanish to follow technical regulatory texts.

Ready to start?

Send your application today. Our admissions team replies within 72 hours with your study plan and funding options.

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FAQ

Frequently asked questions

The programme totals 300 hours, spread over 3 to 5 months. That is an average of 10 to 15 hours per week, compatible with a full-time job.

The course works with Oasis LMF, Verisk Touchstone, Moody’s RMS, R. Free, academic or evaluation versions are used, and the tutor indicates a free alternative where one exists.

A SEIUM diploma upon passing the continuous assessment and the integrative project. It is in-house training, not an official qualification from the Ministry.

Yes. Modules passed in a course or postgraduate diploma in the same area are credited towards the advanced programme. Please check the credit transfer policy when you enrol.

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