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

Validity Period: 01/05/2018 - 30/04/2027

Programme Overview:

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.

Programme Objectives:

• 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.

Programme Features:

• 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

• 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 below 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 completing eight PgDIRM modules and any two Skills Units of ANZIIF below.
  • GE20011-20 Resolve disputes
  • GE20012-20 Apply Codes of Ethical Practice
  • GE20013-20 Deliver Professional general insurance services
  • GE30003-20 Analyse the insurance market
  • GE30005-20 Manage professional development

• Graduates can be awarded up to a certain number of Chartered Insurance Institute (CII) credits depending on the specific modules being taken. For details, please refer to the mapping table of CII recognition of prior learning review outcome in the Student’s notes under the second section of Appendix 1 on page 5.

• Graduates can be considered to apply for Master of Business Administration and Master of Professional Management in Wealth Management of Hong Kong Metropolitan University through Pathway 1 as equivalent to satisfy the requirement of a recognized Master’s degree in business. (details refer to Student’s notes on page 6) 

• 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”

• 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 2 years at the earliest

• 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
   

*All information is subject to changes made by the professional bodies. Graduates are advised to confirm the latest exemptions and recognition with the relevant professional bodies.

Programme Structure

Learners must take 8 modules including 3 core 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 5 modules to be selected from the elective modules listed below:

Insurance Stream:

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.

Programme Leaflet: Please download here

Student's notes: Please download here