Railway Risk Underwriting Course
Online 300-hour course in railway risk underwriting. 6 modules covering Directive (EU) 2016/798 (railway safety), Delegated Regulation (EU) 2018/762 (common safety methods for safety management systems) and advanced Excel. Assigned tutor and open enrolment.
Take the controls.
Run a real engineering trade-off from this field. Move the sliders, watch the model react in real time and beat the challenge.
What you will be able to do
Analyse railway risk from the underwriter's perspective.
Technically assess an operator and its safety management system.
Structure a layered insurance programme and its cover.
Price the risk and design the reinsurance placement.
Propose prevention measures and manage the account over time.
Interpret the European railway regulation relevant to insurance.
Manage a railway risk portfolio using profitability criteria.
Who it's for
- Railway risk underwriter who wants to specialise in Railway Risk Underwriting.
- Transport risk engineer who wants to specialise in Railway Risk Underwriting.
- Large risks account manager who wants to specialise in Railway Risk Underwriting.
- Reinsurance analyst who wants to specialise in Railway Risk Underwriting.
- Transport insurance broker who wants to specialise in Railway Risk Underwriting.
- Railway safety consultant who wants to specialise in Railway Risk Underwriting.
- Graduates in engineering or science seeking to enter insurance companies.
What you'll work with
- Directive (EU) 2016/798 (railway safety)
- Delegated Regulation (EU) 2018/762 (common safety methods for safety management systems)
- COTIF Convention and CIV and CIM Uniform Rules
- Spanish Law 38/2015 on the railway sector
- Directive (EU) 2016/797 (railway interoperability)
- EN 50126 (railway RAMS)
- Spanish Insurance Contract Law 50/1980
6 modules · 300 h
1.1Client types: administrator, operator, keeper and workshop1.2Rolling stock, infrastructure and liability: three distinct risks1.3What information actually defines the risk1.4Public sources: certificates, authorisations and safety reports1.5Reading the operator's safety management system1.6Exposure indicators and their normalisation1.7Claims data and its cleansing1.8Warning signs in a risk submission1.9Market appetite and available capacity1.10Workshop: analysis of a railway risk submission
2.1Fleet: type, age and condition of rolling stock2.2Maintenance: responsible entity and applied plan2.3Qualifications and working regime of driving staff2.4Fatigue and shift management2.5Train protection systems and signalling level2.6Routes, speeds and level crossings along the itinerary2.7Goods carried and dangerous goods2.8Safety culture and incident management2.9Inspection visit and its report2.10Practice: underwriting questionnaire for an operator
3.1Programme sections: rolling stock, infrastructure, liability and breakdown3.2Limits per event and annual aggregates3.3Deductibles per section and their effect on the premium3.4Sublimits for specific risks3.5Business interruption and extra expense cover3.6Cross liability between operators3.7Apportionment clauses with the infrastructure manager3.8Cover for lessors and financiers3.9Geographic scope and cross-border operations3.10Practice: programme structure for a mixed operator
4.1Pricing bases: train-km, fleet and passenger exposure4.2Own experience versus market experience4.3Peak claim loading and catastrophe scenario loading4.4Reasonable maximum loss scenario4.5Layers, priorities and cost of reinsurance4.6Specialist markets and railway pools4.7Adjustment clauses based on actual activity4.8Profit sharing and multi-year programmes4.9Monitoring account profitability4.10Practice: full quotation for an operator
5.1Prevention recommendations and their follow-up5.2Conditions precedent and required guarantees5.3Periodic technical audits5.4Improvement plan agreed with the client5.5Managing a serious claim and coordinating with the client5.6Claims report for renewal5.7Relationship with the broker and the client5.8Renegotiation after a major claim5.9Decision not to renew: criteria and communication5.10Practice: improvement plan for a deteriorated account
6.1Compulsory insurance and accreditation before the authority6.2Safety certificates and their relationship with the policy6.3Sector liberalisation and new private operators6.4Risks of high-speed projects6.5Accumulation by corridor and by station6.6Managing an entity's railway portfolio6.7Training of underwriters and loss adjusters6.8Common errors in railway underwriting6.9Railway risk trends6.10Final project: railway underwriting policy
How you'll learn
Training 100% online on the SEIUM campus, with downloadable material, recorded classes and assigned technical tutor. No fixed timetable: students progress at their own pace within the intake, which allows them to combine it with work.
Each module combines theory, guided reading of the original standard and applied exercises. The working software is Advanced Excel, R, Power BI, QGIS, in free, academic or evaluation versions. Assessments are studied using real procedures for evaluating an operator's safety management system, structuring a liability and damage programme, and risk inspection visits to workshops and depots. Assessment is continuous per module plus the final integrating project.
Build it end to end
Your final project follows the real engineering workflow, step by step, reviewed by your tutor.
Analyse railway risk from the underwriter's perspective.
Technically assess an operator and its safety management system.
Structure a layered insurance programme and its cover.
Price the risk and design the reinsurance placement.
Propose prevention measures and manage the account over time.
Where this takes you
Requirements
- No prior degree is required.
- Internet connection and a computer capable of running the programme's software.
- Sufficient 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.
Frequently asked questions
The programme comprises 300 total hours spread over 3 to 5 months. That is between 10 and 15 hours per week on average, compatible with full-time work.
You will work with Advanced Excel, R, Power BI, QGIS. Free, academic or evaluation versions are used, and the tutor indicates the free alternative where one exists.
A SEIUM Institute diploma upon passing continuous assessment and the integrating project. This 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 recognised towards the advanced programme. Check the recognition policy when you enrol.
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