PDI - Property Insurance (此课程内容只提供英文版本)
Tel: 2836 1863
Email: johntsang@vtc.edu.hk
Ms. Ivy Chan (Programme Secretary) Tel: 3974 3663 Email: ivychan@vtc.edu.hk Fax: 2891 5707
(此课程内容只提供英文版本)
Learning Outcomes
On completion of the module, students are expected to be able to:
- identify and assess the principal factors involved in the assessment of property risks according to different business activities;
- define and analyze the scope and the process in constructing principal property insurance contracts according to the nature of business and the need of the client; and
- interpret and perform tasks on insurance matters independently including quotation, portfolio performance of underwriting, suggestions of negotiation strategies, and review performance of claims of the principal property insurance contracts including package policy according to requirements of the insured and the insurer under different factors of consideration.
Learning Contents
- Review of basic principles of insurance
- Indemnity, Subrogation, Contribution and Proximate cause
- Review of insurance in practice
- Physical and moral hazard and Under-insurance ie. Average
- Policy contents of various types of property insurance
- Fire and additional perils
- Business interruption - Meaning of Gross Profit, variable and standing Charges
- Theft including Burglary and Robbery
- Money
- Glass Fidelity Guarantee
- Engineering (machinery) including electronic equipment, computer insurance
- Construction and erection including Contractors’ All Risk Insurance
- Combined and package policies including Domestic insurance
- Commercial/ Property All Risk Insurance
- Risk assessment
- Sources of information for risk assessment including fire fighting and protection
- Inception and propagation risks
- Estimated maximum loss, maximum probable/ possible loss and normal loss expectancy
- Risk inspection (survey)
- Physical and moral hazards on fire, theft and other risks
- Risk improvement
- Underwriting
- Importance and principles of sound underwriting
- Concept of accumulation and spreading of risks
- Particular features and factors for underwriting considerations and rating of various types of property insurance
- Underwriting techniques in handling standard, sub-standard and above-standard risks
- Effects of inflation and use of an inflation clause
- Declaration and First loss policies
- Use of Reinsurance
- Claims practice
- Procedures of processing property claims
- Policy conditions and wordings relating to claims
- Claims form and other claims documents
- Claims statistics and reserves
- Fraudulent claims such as Arson
- Claims specialists such as Loss Adjusters, Investigators, Valuers, etc.
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.
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 1st 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.
| CEF course code (for the modules commenced after 16 August 2022) | CEFCourse Title in English (for the modules commenced after 16 August 2022)
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| 33Z139328 | Property Insurance (Module from Professional Diploma in Insurance) |