CourseInsurance, Risk & Actuarial Data Applications open

Interruption by Natural Perils Insurance Course

Online 300-hour course in business interruption insurance for natural perils. 6 Modules Covering Royal Legislative Decree 7/2004 Moody's RMS RiskLink. Assigned tutor and open enrollment.

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 how a natural peril causes interruption of business activity.

02

Design business interruption cover and its indemnity periods.

03

Assess exposure using hazard maps and catastrophe models.

04

Define the role of the insurance compensation consortium.

05

Quantify a loss of profits using the insured's financial statements.

06

Integrate business continuity into prevention and underwriting.

07

Propose interruption cover for a company exposed to natural hazards.

Profile

Who it's for

  • Property and business interruption underwriter seeking to specialise in Interruption by Natural Perils Insurance.
  • Loss of profits adjuster seeking to specialise in Interruption by Natural Perils Insurance.
  • Catastrophe model analyst seeking to specialise in Interruption by Natural Perils Insurance.
  • Business continuity consultant seeking to specialise in Interruption by Natural Perils Insurance.
  • Corporate risk manager seeking to specialise in Interruption by Natural Perils Insurance.
  • Property insurance broker seeking to specialise in Interruption by Natural Perils Insurance.
  • Engineering or science graduates looking to enter property insurers.
Standards & tools

What you'll work with

  • Royal Legislative Decree 7/2004 (Legal Statute of the Insurance Compensation Consortium)
  • Royal Decree 300/2004 (Regulation on Extraordinary Risk Insurance)
  • ISO 22301 (Business Continuity)
  • ISO 31000 (Risk Management)
  • Directive 2007/60/EC (Assessment and Management of Flood Risks)
  • Insurance Contract Act (Law 50/1980)
Syllabus

6 modules · 300 h

  1. 1.1Concept of consequential loss
  2. 1.2Difference from material damage
  3. 1.3Material damage as a condition of cover
  4. 1.4Interruption without own damage
  5. 1.5Dependency on suppliers and customers
  6. 1.6Dependency on public utilities
  7. 1.7Sector vocabulary and acronyms
  8. 1.8Most exposed sectors
  9. 1.9Documented cases
  10. 1.10Exercise: identifying sources of interruption
  1. 2.1Insured gross profit and its calculation
  2. 2.2Indemnity period and its duration
  3. 2.3Time excess period
  4. 2.4Supplier and customer cover
  5. 2.5Denial of access cover
  6. 2.6Utilities cover
  7. 2.7Additional operating expenses
  8. 2.8Underinsurance and its effect
  9. 2.9Common exclusions
  10. 2.10Practice: calculating insured gross profit
  1. 3.1Analysis of the client's value chain
  2. 3.2Identifying bottlenecks
  3. 3.3Critical dependencies and their concentration
  4. 3.4Estimated recovery time
  5. 3.5Client continuity plan
  6. 3.6Redundancy and alternatives
  7. 3.7Exposure to natural events in the area
  8. 3.8Accumulation across insureds
  9. 3.9Risk surveys and reports
  10. 3.10Practice: analysing a company's dependencies
  1. 4.1First actions and mitigation measures
  2. 4.2Determining the indemnity period
  3. 4.3Reconstructing the profit and loss account
  4. 4.4Trends and business adjustments
  5. 4.5Additional expenses and their acceptance
  6. 4.6Specialist financial loss adjusting
  7. 4.7Required accounting documentation
  8. 4.8Advance payments and their management
  9. 4.9Common discrepancies
  10. 4.10Practice: calculating a claim settlement
  1. 5.1Business continuity plans
  2. 5.2Testing and drills
  3. 5.3Improving client resilience
  4. 5.4Policy incentives for prevention
  5. 5.5Managing portfolio accumulation
  6. 5.6Reinsurance of the cover
  7. 5.7Monitoring indicators
  8. 5.8Training for underwriters and claims handlers
  9. 5.9Lessons from recent events
  10. 5.10Practice: a resilience plan for a client
  1. 6.1Choosing the company and its activity
  2. 6.2Analysis of the value chain
  3. 6.3Calculation of gross profit and the period
  4. 6.4Design of the proposed cover
  5. 6.5Risk assessment and accumulation
  6. 6.6Claims management protocol
  7. 6.7Continuity and prevention plan
  8. 6.8Monitoring indicators
  9. 6.9Project 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 timetables: 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 Moody’s RMS RiskLink, QGIS, Oasis LMF, advanced Excel, in free, academic or evaluation versions. Case studies are based on real procedures for calculating a loss of profits after a flood and analysing a business continuity plan. Assessment is continuous across each module plus the final integrative project.

Accreditable laboratories(EN ISO/IEC 17025) with rotor rig, EMC/Lightning pre-compliance, HIL/SIL, vibration/acoustics.
Evidence-focused Master's Thesis:safety case, test plan, compliance dossier and operational limits.
Industry 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, with OT cyber security, DIH and compliance as its pillars.
Capstone project

Build it end to end

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

Choosing the company and its activity

Explain how a natural peril causes interruption of business activity.

Analysis of the value chain

Design loss of profits cover and its indemnity periods.

Calculation of gross profit and the period

Assess exposure using hazard maps and catastrophe models.

Design of the proposed cover

Define the role of the Consorcio de Compensación de Seguros.

Risk assessment and accumulation

Quantify a loss of profits using the insured's financial statements.

Career opportunities

Where this takes you

Property and business interruption underwriterLoss of profits adjusterCatastrophe model analystBusiness continuity consultantCorporate risk managerProperty insurance broker
Admissions & scholarships

Requirements

  • No prior qualification is required.
  • Internet connection and a computer capable of running the programme's software.
  • Sufficient Spanish to follow technical regulatory reading.

Ready to start?

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

FAQ

Frequently asked questions

The programme consists of 300 hours in total, 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 Moody’s RMS RiskLink, QGIS, Oasis LMF and advanced Excel. Free, academic or evaluation versions are used, and the tutor indicates the free alternative where one exists.

An 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 higher-level programme. Please check the credit recognition policy when you enrol.

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