PDI - Insurance Principle and Practice

Learning Outcomes

On completion of the module, students are expected to be able to:

• assess different types of risks and nature of insurable risks in given situations with consideration of the insurance mechanism;
• define and analyze the scope and the main concepts of risk management under different business activities; and the legal and regulatory environment of the insurance market including intermediaries;
• apply insurance market principles and practice independently to handle various start-to-end procedures including underwriting and claims according to the needs of different clients and companies; and
• apply the principles of insurance law in the interpretation of insurance contracts such as insurable interest, utmost good faith, proximate cause and indemnity under different factors of consideration.

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Learning Contents

1. Introduction to insurance

• Meaning of insurance
• Nature of risks
• Functions of insurance

2.  Major classes of insurance

• Marine insurance
• Life insurance
• Property insurance
• Accident & casualty insurance
• Motor insurance

3. The insurance market

• The insurance market
• Insurers
• Brokers and agents
• Lloyd's

4. Basic principles of insurance law

• Insurable interest
• Utmost good faith
• Indemnity
• Subrogation
• Contribution
• Proximate cause

5. Insurance in practice

• Insurance in practice
• Physical and moral hazard
• Underwriting
• Claims and disputes
• Average
• Reinsurance
• Co-insurance

6. Risk management

• Risk management concept and objectives
• Risk management process

Entry Requirements:

• Five HKDSE subjects at Level 2 or above, including English and Chinese Languages with 2 or more years’ relevant full-time work experience; or
• Five HKCEE subjects at Grade E/Level 2 or above, including English* and Chinese Languages with 3 or more years’ relevant full-time work experience; or
• Completion of a QF Level 3 programme that is deemed acceptable to the respective Programme Committee; or
• Relevant Recognition of Prior Learning (RPL) qualification(s) at QF Level 3 or above AND a pass in an admission interview; or
• Other relevant verifiable prior learning and/or work experience that is/are deemed appropriate by respective Programme Committee AND a pass in an admission interview. 

[* Applicants who took HKCEE English Language in 2006 or before should have attained Grade E or above (Syllabus B) / Grade C or above (Syllabus A)] 

[Entry requirements for mature applicants are: Aged 23 years old or above with at least 2 years of relevant full-time work experience subject to a satisfactory admission interview.]

Continuing Education Fund

The modules of “Professional Diploma in Insurance” (PDI) have been included in the list of reimbursable courses for Continuing Education Fund (CEF) purposes (https://www.wfsfaa.gov.hk/cef). The mother course “Professional Diploma in Insurance” of the modules is recognised under the Qualifications Framework (QF Level 4).

For the modules commenced on or before 31 March 2022 (the 1^st module should be commenced on or before the date), CEF claimants would be eligible for fee reimbursement upon their successful completion of any 4 modules selected from PDI (CEF Course Code: 33F11053A), with the fulfilment of both the minimum attendance requirement of 70% AND passing each of the 4 modules at 50% or above.

For the modules commenced on or after 16 August 2022, CEF claimants would be eligible for fee reimbursement upon their successful completion of any one module selected from PDI with the following CEF course codes, with the fulfilment of both the minimum attendance requirement of 70% AND passing the module at 50% or above.