Diploma in Fire Insurance
In this Diploma on Proficiency in Fire Insurance, we will be studying various aspects of Fire Insurance in detail. Fire Insurance is one of the oldest lines of insurance business. This Diploma provides a complete knowledge of the terms of coverage, underwriting and claims. Such comprehensive knowledge equips the candidate to become an expert in Fire insurance. The Diploma is structured to enlighten the candidates on the conceptual and practical elements of Fire insurance.
Diploma Structure
The Diploma consists of three Modules. Module One and Module Two have four Chapters each, and Module Three has three Chapters.
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MODULE ONE |
MODULE TWO |
MODULE THREE |
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Principles Of Fire Insurance |
Special Clauses |
Claims |
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Fire Insurance Coverage |
Additional Covers |
Reinsurance |
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Fire Insurance Exclusions |
Underwriting |
New Standard Products |
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Fire Policy Conditions |
Business Interruption |
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The entire course is divided 11 chapters.
CHAPTER 1
The students will be exposed to the history of fire insurance and its evolution. They will also learn the applicability of the Principles of Insurance on Fire Insurance.
CHAPTER 2
In this Chapter, the various perils covered under the Standard Fire & Special Perils Policy are being discussed with in-built exclusions (Peril specific) and examples.
CHAPTER 3
The exclusions under the Standard Fire & Special Perils Policy are being deliberated upon with explanations and clarity
CHAPTER 4
The conditions under the Standard Fire & Special Perils Policy are being discussed to give a clarity to the contract between the Insurer and Insured.
CHAPTER 5
In this Chapter, various important Clauses which are attached to the main policy are discussed in detail with examples. The student will be exposed to the Clauses, Wordings and their Implications on the fire policy.
CHAPTER 6
In this Chapter, the various add-on covers which can be issued in conjunction with the original policy are discussed. The various add-on covers have been discussed in detail with examples and clarifications.
CHAPTER 7
The mechanisms of underwriting the fire business along with the factors affecting the decision making of the underwriter are discussed.
CHAPTER 8
This Chapter focuses on various aspects of fire loss of profit or business interruption policy which are normally issued in conjunction with the fire policy. The concept and importance of terminologies along with examples have been discussed.
CHAPTER 9
In this Chapter, the various procedures relating to claims settlement are discussed. The impact of various Clauses and add-on covers on the settlement procedure are also discussed.
CHAPTER 10
The fire portfolio is protected by Reinsurance. Hence, the important of Reinsurance with various examples are discussed in this Chapter.
CHAPTER 11
The students are aware that 3 new Standard Fire Products were introduced by IRDAI w.e.f. April 1st, 2021. These policies are to be mandatory followed by all the Indian Insurers. Hence, this Chapter deals with various aspects of these products with examples wherever necessary.
Diploma Content
Diploma materials are available on Portal as PDF documents for each of the eleven Chapters.
Each Chapter is also covered in depth in relevant videos which would be two or three videos per Chapter. Candidates are advised to read the Chapter before watching the videos. Such integrated learning will help them understand the nuances of Fire insurance.
Course Eligibility
This Diploma is ideally useful to all those people who would like to become an expert in fire insurance, particularly insurance executives, intermediaries, brokers, surveyors, persons handling insurance with customers and interested students.
Any person who is Undergoing Graduation or a Graduate from a recognised University.
Tests
At the end of each Chapter, a Test will be held. Each Chapter Test will have Eight Questions. All questions are compulsory. Each Question carries 12.5 marks. All the Chapter Tests are in the form of Multiple Choice Questions. Time for each Chapter Test is twenty minutes. Pass mark is Fifty. It is mandatory that the candidate pass the Test for each Chapter before moving on to the next Chapter. In case a candidates fails in a Test, he can reappear for the Test any number of times, and only on passing the Test can he move on to the next Chapter.
Term Exams
At the end of the First and Second Module, a Term Exam will be held. Only those candidates who have passed all the four Chapter Tests in that Module will be eligible to appear for the Term Exam. The Term Exams will have Thirty Two Questions, of which the Candidate could attempt any Twenty Five. Each Question carries four marks. If a candidate attempts more than twenty five questions, only the first twenty five will be considered for evaluation. Time for each Term Exam is Forty Minutes. Pass mark is Fifty. And only those candidates who pass the Term Exam will move on to the next Module. In case a candidate fails the Term Exam, he could reappear for the Exam any number of times, and only on passing the Exam can he move on to the next Module. Questions for the Term Exams will be only on the Chapters covered in that Module.
Final Exam
At the end of the Third Module, a Final Exam will be held.
But, a candidate is eligible to appear in the final
examination if he completes at least 2 months and clears all the term end
examinations. The final examination date will be announced on the portal after
the first registration is done. The candidates are advised to take the final
examination only on Laptop / Desktop via remote proctoring.
The Structure of the Final Exam will be:
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FOR THE FINAL EXAM |
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SECTION A |
FIVE QUESTIONS EACH FROM CHAPTERS ONE TO EIGHT. OF THE FORTY QUESTIONS, THE CANDIDATE SHOULD ANSWER ANY 30. 1.5 MARKS EACH. 45 MARKS FOR THIS SECTION |
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SECTION B |
TEN QUESTIONS EACH FROM CHAPTERS NINE TO ELEVEN. OF THE THIRTY QUESTIONS, THE CANDIDATE SHOULD ANSWER ANY 20. 1.5 MARKS EACH. 30 MARKS FOR THIS SECTION |
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SECTION C |
EIGHT QUESTIONS FROM PROBLEMS FROM EACH CHAPTER, OF WHICH THE CANDIDATE SHOULD ANSWER ANY FIVE. 5 MARKS EACH. 25 MARKS FOR THIS SECTION |
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TIME FOR THE EXAM IS NINETY MINUTES |
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PASS MARK IS 50%. |
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If a Candidate answers more questions than required in any Section, only the first required answers would be considered for evaluation. For example, in Section B, if the candidate has answered 24 Questions, whereas the number of questions to be answered is 20, only the first 20 of the 24 answers will be considered for evaluation. |
Those candidates who fail once will be provided three more opportunities to write the Final Exam. However, for each additional appearance, they will have to pay a sum of ₹ 1000+18% GST. The dates for the re-exam will be announced later on the portal.
Those candidates who pass the Final Exam with 75% marks or more will be provided the Diploma as having passed the Exam with Distinction.
Enrollment Process
Candidates will apply and register for the Diploma Course on NIA’s website. The payment link will take the candidate to make the payment. Once the confirmation on payment is received candidate should fill up the Application form and submit it online. Link for the Application Form. Candidates who qualify and who have remitted the Course Fee would be mailed the credentials to access the Course Online. On receiving the access, the Candidates could log in and commence the course.
Link for the Application Form - https://niapune.org.in/diploma/diploma-in-fire-insurance
Diploma Fee
The Fee for the Course is :
Indian Rs. 9,440/- (8000 + 18% GST)
Overseas US$ 153/- (US$ 130+ 18% GST)
Complete Course Fee to be paid at the time of enrollment.
Course Coordinators:
Mr. Renjit Gangadharan, Chair Professor (General Insurance) (renjitg@niapune.org.in)
Kshitish Mohanty, Faculty Member,(kmohanty@niapune.org.in)
Academic Support/ Course Enrollment:
Dr. Rajeshree D. Chaugule
E-mail : rdchaugule@niapune.org.in Phone No.: 020-27204056
Access course here