| CODE | INS4050 | |||||||||
| TITLE | Insurance Intermediation | |||||||||
| UM LEVEL | 04 - Years 4, 5 in Modular UG or PG Cert Course | |||||||||
| MQF LEVEL | Not Applicable | |||||||||
| ECTS CREDITS | 4 | |||||||||
| DEPARTMENT | Insurance | |||||||||
| DESCRIPTION | Objectives: To develop in the participant an understanding of the: - types of insurance intermediaries, independent or otherwise; - different roles, duties and functions of insurance intermediaries; - local and EU insurance market and how the insurance broker operates for buyer and for seller in the market; - tools used by independent intermediaries to provide financial protection to clients; - strategies used by independent intermediaries in providing their services; - legal and regulatory rules applying to intermediaries in the Maltese and EU market. Contents: - The Impact of the insurance market cycle and the role of broker; - Distribution and the Intermediary in the Insurance Market; - How brokers deal with insurers; - New Business Development; - Regulation and Compliance of Intermediaries and Relevant Legislation; - Application of the regulations and relevant laws; - The Legal structure of the company, corporate risk management and Business Strategy; - The Types of broker, typical management structures and the challenges of international and global business- Analysis of the security of insurers and other intermediaries; - Marketing – client service, the annual renewal cycle and claims service; - Broker remuneration and transparency and provision of risk related services; - Quality Systems and the prevention of errors and omissions. Reading List: - Advanced Insurance Broking, Chartered Insurance Institute Course Book 930. - Chapter 487 Insurance Intermediaries Act; Chapter 403 Insurance Business Act. - MFSA Rules 1 - 25. Supplementary Text: - The Law of Insurance Broking, Christopher Henley, Published: 2003. - Insurance Broking Practice and the Law, Bharat Book Published: 2007. |
|||||||||
| STUDY-UNIT TYPE | Lecture | |||||||||
| METHOD OF ASSESSMENT |
|
|||||||||
| LECTURER/S | Peter Grima |
|||||||||
|
The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2025/6. It may be subject to change in subsequent years. |
||||||||||