As per the current directive of National Bank of Ethiopia , this course has been designed to update the knowledge of the board members of Insurance companies across Ethiopia on risk based capital management . Through the use of risk-weighted assets and capital requirements, risk-based capital regulation aligns the level of capital held by financial institutions with the level of risk they are exposed to, encouraging effective risk management and promoting market discipline.

While risk-based capital regulation faces challenges and criticisms, such as complexity and potential for regulatory arbitrage, ongoing efforts to refine and improve the framework, such as the Basel III reforms, are underway. With increasing global interconnectedness and the potential for systemic risk, the continued evolution and effectiveness of risk-based capital regulation will remain a critical component of financial regulation in the years to come. This requires further learning and training of professionals in effective risk management applications, and the selection of the most suitable insurance plans.

Insurance is a way of transferring risk, and it is used as the risk reducing way for People and Corporates to achieve financial protection. Nobody owns and drives a car without motor insurance, and while your liability as a private or professional body may not require that you have indemnity protection, would you really consider leaving these risks unprotected? Would you risk your family’s well-being in case of an unexpected tragic event? Insurance is largely untroubled by economic downturns since many insurance products are a necessary part of our multi-risk lives. Insurance is no different from any other business opportunity. But it also comes with some unique considerations. This Insurance and Risk Management training course will highlight:

• The ways of handling risks based on willingness to tolerate risks
• Risk management into the business decision-making process
• The usefulness of Insurance for People and Corporations
• Concepts, principles, and legal issues of insurance
• The various types of Insurance Products and their usefulness.

This Risk Management course gives participants a general understanding and overview of Risk Management Frameworks implemented in the insurance industries in line with best practices and international standards. Being taught by practicing professionals with strong academic backgrounds, the course will allow participants to identify, assess, measure, monitor and mitigate potential financial and non-financial risks in a practical way strengthened by applicable case studies. Also, the course covers significant parts of the compliance and regulatory requirements targeting those related to participants’ geographical presence.

Strong Solvency of insurance companies is important for both the regulator and the policyholders. Financially strong insurance industry not only helps in increasing insurance penetration and economic growth but also help in building the trust of the people on the social security fibre of the country. Regulators over the time have made changes in the regulation to make insurance industry financially strong. The recent regulatory changes across the globe have led to determining solvency capital as a function of risks that insurance companies face rather than a simple formula. Risk-based capital regulation is an important tool for promoting financial stability and ensuring the safety and soundness of financial institutions.

At the end of this Insurance and Risk Management training course, you will learn to: