Postgraduate Diploma in Insurance in Risk Management (PgDIRM) 保險風險管理深造文憑
This programme is recognised under the Qualifications Framework
QF Level: 6
QR Registration No.: 18/000158/L6
Validility Period: 01/05/2018 - 30/04/2022
Nowadays, most organizations highly regard risk management in their business strategies particularly in corporate governance. Risk management and insurance are dynamic and highly competitive businesses and they are now inseparable. Risk managers are expected to be able to evaluate a wide range of insurance tools, including the contemporary variety of specialized insurance products related to directors & officers, cyber, credit, mergers and acquisitions transactions, parametric, etc. in addition to the traditional insurance classes of property and liability, in formulating appropriate risk management frameworks.
The PgDIRM provides students with a holistic training in both risk management and insurance to upgrade their skills and equip them with strategic-level of risk management and insurance knowledge, the latter being generally considered as the most practical and effective risk management solution.
The programme objectives of the PgDIRM programme are to:
- develop students’ professional skills in devising and planning effective and efficient methods and strategies for managing complex issues in the risk management and insurance fields;
- cultivate students’ integrity, ethics and commitment to risk management and insurance professional practices; and
- nurture students’ self-reflection and lifelong learning awareness of further professional development.
Programme Intended Learning Outcomes
On completion of the programme, students will be able to:
- assess and manage risk portfolios for risk prevention and management improvement in organizations;
- develop corporate-level strategies and review risk management frameworks in compliance with regulatory requirements and ethical standards;
- propose rules and regulations for governing risk management and for managing insurance and financial products and services in response to the market demand;
- apply a board range of professional knowledge in risk management and insurance, and skills in leadership, communication and research to manage risk management functions within insurance and financial organizations; and
- reflect on current professional practice to identify plans for further professional development.
Program Features and Highlights:
- Postgraduate qualification that explores the multi-faceted world of risk management with the growing interplay between the fields of risk management, insurance and financial services, focusing on local law and practice
- 8 modules each with 30 lecture hours ($7,800 per module until further adjustment), normally 3 trimesters each year commencing in January, May and September
- Flexible modular structure with three core modules and a choice of five elective modules under the streams of insurance or risk management, to be completed within 4 years
- Students are eligible to apply to the Mentorship Scheme to learn from seasoned professional / senior executive to make progress towards professional goals and broaden business networks (details by clicking the above General Information)
- Students completing any three PgDIRM modules are eligible for ANZIIF Associate Membership. Students completing any six PgDIRM modules are eligible for ANZIIF Senior Associate Membership.
- Graduates have the advantage of having direct access to an international premier professional qualification of Fellowship of the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) by claiming 80 points towards the 100 points required for ANZIIF Fellowship; and before graduation by prior to applying to achieve the additional 25 points, after completion of 3 or 6 modules of the PgDIRM to become Associate member or Senior Associate member of ANZIIF respectively and must also meet the other Fellow criteria (details as per https://anziif.com/membership/membership-levels )
- Graduates can be awarded up to a maximum 190 CII credits (90 at Advanced Diploma and 100 at Diploma level)
- Graduates can be considered to apply for Master of Business Administration and Master of Applied Finance (in Risk Management or in Wealth Management) of the Open University of Hong Kong through Pathway 1 as equivalent to satisfy the requirement of a recongnized Master’s degree in business
- PgDIRM can be recognized as Type 3 or Type 5 Qualified CPD Activity with details as per Guideline on Continuing Professional Development for Licensed Insurance Intermediaries (“GL24”) issued by the Insurance Authority
- PgDIRM “Law and Practice of Insurance” and “Financial Planning Management” can obtain exemption of Society of Registered Financial Planners (HKRFP) “Insurance Planning”; PgDIRM “Financial Planning Management” can obtain exemption of HKRFP “Financial Planning”, “Tax Planning” and “Investment Planning”
Learners must take 8 modules including three compulsory modules
PBA60001 Enterprise Risk Management
PBA60002 Law and Practice of Insurance
PBA60003 Managing Insurance Organizations and Self-insurance#
# The Pre-requisite of taking the Managing Insurance Organizations and Self-insurance module is to have passed the other 2 core modules plus at least three elective modules of the Programme
Remaining modules to be selected from the elective modules listed below:
PBA60004 Property Insurance Management
PBA60005 Liability Insurance Management
PBA60006 Marine Insurance Management
PBA60007 Life and Medical Insurance Management
PBA60008 Reinsurance Management
Risk Management Stream
PBA60009 Operational Risk Management
PBA60010 Financial Risk Management
PBA60011 Financial Planning Management
PBA60012 Corporate Governance and Compliance
It is preferable to start an elective module if students have some basic knowledge of the relevant subject. Basic understanding of mathematical concepts is recommended in modules in the Risk Management Stream (except Corporate Governance and Compliance).
Medium of Instruction
All classes are conducted in English supplemented with Cantonese.
- Applicants shall
- hold a bachelor’s degree awarded by a recognised institution; and working full-time in related industries; OR
- have achieved a level in relevant professional qualifications equivalent to a bachelor’s degree; and have one year of full-time work experience in related industries.
- Applicants with other qualifications and three years of senior-level work experience in related industries will be considered on individual merits and subject to a satisfactory admission interview.
- English Proficiency Requirements
- If the bachelor’s degree is not from an institution where the language of teaching and assessment is English, or if the relevant professional qualifications are not awarded in Hong Kong nor an English speaking country, applicants shall provide the following evidence of English proficiency:
- an overall band score of 6.5 in IELTS; or
- a TOEFL score of 550 (paper-based test) or 213 (computer-based test) or 79 (internet-based test); or
- equivalent qualifications.
Programme Leaflet: Please download here
Please use the specified enrollment form and follow the "Notes to Applicants" in the form to apply for programmes.
Applicants should show the Hong Kong Identity (HKID) Card / Passport / Travel Document / or valid study visa issued by the Immigration Department of the Hong Kong Special Administrative Region (HKSAR) for enrollment.
Individual programmes may have specific admission requirements. Applicants should refer to the admission requirements of the individual programmes.
All places are allocated on a first-come-first-served basis. Incomplete forms and forms received without payment will not be processed.
Deadline for Application
The deadline for application is 7 working days## prior to the class commencement date (The enrollment deadline might be subject to change depending on the enrollment status).
Notification of Class Commencement
Successful applicants will be notified of the class information by the contact method specified on the enrollment form at least 3 working days## before class commencement. PEAK will not be responsible for the loss of class notification sent by mail. Please contact us at 2836 1906 if you do not receive the notification before the class commencement.
Programme Fees / Receipt
For a programme commencing within 7 working days## at the time of enrollment, students are required to settle the programme fee by cash.
Programme fees paid are non-refundable, except for cases of unsuccessful applications and programme cancellation or rescheduling. Fees paid and places enrolled are also not transferable, and request for programme swapping will not be entertained.
Students will collect and sign to acknowledge collection of the receipts at the first lesson. Fees paid after the enrollment deadline may result in delay in receipt issuing. For those who have not collected the receipts during the first lesson, our staff will contact them for the receipt collection arrangement. If students choose to collect the receipt by mail, PEAK will not be responsible for any loss in mailing. Students will be required to pay an administrative charge of HK$100 for their requests for each additional receipt copy. Please send crossed cheque payable to "Vocational Training Council" with a written application to "The Programme Team" of the Institute. For enquiry, please contact us at 2836 1862.
## Working days (exclusive of Saturdays and Sundays)
Enrollment Form for Programme Application
Please download here
Dr. Fred Li (Programme Director)
Tel: 2836 1864
Mr. John Tsang (Deputy Programme Director)
Tel: 2836 1863
Ms. Carrie Kwan (Programme Officer)
Tel: 2836 1852
Mr. Travis So (Programme Secretary)
Tel: 2836 1205
Fax: 2891 5707