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CourseInsurance, Risk & Actuarial Data Applications open

Course on Adapting Insurance Policies to Emerging Climate Risks

Online 300-hour course on adapting insurance policies to emerging climate risks. 6 modules covering Spanish Insurance Contract Law 50/1980, Directive 2009/138/EC (Solvency II) and the Copernicus Climate Data Store. Assigned tutor and open enrolment.

Duration300 h
ModeOnline
LanguageEnglish
Start datesSet by the faculty
AwardSEIUM Institute certificate
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Learning outcomes

What you will be able to do

01

Identify the emerging climate risks that require existing policy wordings to be reviewed.

02

Review policy wording to detect exclusions, ambiguities and coverage gaps.

03

Adapt cover, excesses and limits to new climate hazard scenarios.

04

Define the Boundary between private cover and that of the Insurance Compensation Consortium.

05

Assess the impact of changes on pricing, the portfolio and the reinsurance programme.

06

Communicate changes to the client transparently and in line with distribution regulations.

07

Draft a proposal for adapting a policy to climate risks.

Profile

Who it's for

  • Insurance product officer wishing to specialise in Adapting policies to emerging climate risks.
  • Natural hazards underwriter wishing to specialise in Adapting policies to emerging climate risks.
  • Climate risk analyst wishing to specialise in Adapting policies to emerging climate risks.
  • Pricing actuary wishing to specialise in Adapting policies to emerging climate risks.
  • Sustainability manager at insurers wishing to specialise in Adapting policies to emerging climate risks.
  • Reinsurance manager wishing to specialise in Adapting policies to emerging climate risks.
  • Engineering or science graduates seeking to enter property and casualty insurance.
Standards & tools

What you'll work with

  • Law 50/1980 on Insurance Contracts
  • Directive 2009/138/EC (Solvency II)
  • Royal Legislative Decree 7/2004
  • Regulation (EU) 2020/852 (Taxonomy)
  • Regulation (EU) 2019/2088 (SFDR)
  • Directive (EU) 2022/2464 (CSRD)
  • ISO 14091 (Climate Change Adaptation)
Syllabus

6 modules · 300 h

  1. 1.1Mismatch between cover and current risks
  2. 1.2Recent events and lessons from policy wording
  3. 1.3Ambiguities that generate disputes
  4. 1.4Silent exposure to climate risks
  5. 1.5Client and supervisor expectations
  6. 1.6Applicable product governance
  7. 1.7Sector vocabulary and acronyms
  8. 1.8Pace of risk change
  9. 1.9Coordination with reinsurance
  10. 1.10Exercise: identifying ambiguities in a policy wording
  1. 2.1Definition of the perils covered
  2. 2.2Flood: definitions and their nuances
  3. 2.3Wind, hail and their thresholds
  4. 2.4Drought, heatwave and wildfire
  5. 2.5Damage from gradual change
  6. 2.6Wear-and-tear and maintenance exclusions
  7. 2.7Peril-specific excesses
  8. 2.8Waiting periods
  9. 2.9Clear and understandable language
  10. 2.10Practice: rewriting an ambiguous clause
  1. 3.1Sublimits by peril and by location
  2. 3.2Complementary parametric cover
  3. 3.3Cover for prevention measures
  4. 3.4Rebuilding with improvement and its cost
  5. 3.5Urgent mitigation costs
  6. 3.6Business interruption from a natural event
  7. 3.7Ecological transition cover
  8. 3.8Products for highly exposed clients
  9. 3.9Alternatives to non-renewal
  10. 3.10Practice: proposing new cover
  1. 4.1Tariff review for climate exposure
  2. 4.2Territorial segmentation of price
  3. 4.3Effect on affordability
  4. 4.4Managing a highly exposed portfolio
  5. 4.5Required prevention conditions
  6. 4.6Coordination with the reinsurance programme
  7. 4.7Accumulation and zonal limits
  8. 4.8Claims experience monitoring
  9. 4.9Annual review of assumptions
  10. 4.10Practice: portfolio review plan
  1. 5.1Product governance and its oversight
  2. 5.2Comprehension testing with clients
  3. 5.3Clear pre-contractual information
  4. 5.4Communicating changes to the client
  5. 5.5Training the distribution network
  6. 5.6Handling cover-related complaints
  7. 5.7Relationship with the supervisor
  8. 5.8Product quality indicators
  9. 5.9Periodic review of the policy wording
  10. 5.10Practice: communication plan for a change
  1. 6.1Choice of product and market
  2. 6.2Diagnosis of the current policy wording
  3. 6.3Climate exposure analysis
  4. 6.4Proposal for new wording
  5. 6.5New cover and its price
  6. 6.6Coordination with reinsurance
  7. 6.7Communication and training plan
  8. 6.8Monitoring indicators
  9. 6.9Project report
  10. 6.10Project defence
Methodology, software & labs

How you'll learn

100% online training on the SEIUM campus, with downloadable material, recorded classes and an assigned technical tutor. No fixed timetables: students progress at their own pace within the intake, making it possible to combine study with work.

Each module combines theory, guided reading of the original standard and applied exercises. The working software is Copernicus Climate Data Store, QGIS, Python (xarray), R, advanced Excel, in free, academic or evaluation versions. Case studies are based on real procedures for reviewing actual policy wordings, workshops on redesigning cover, and climate exposure analysis of a portfolio. Assessment is continuous by module, plus the final integrating project.

Accredited laboratories(EN ISO/IEC 17025) with a rotor test rig, EMC/Lightning pre-compliance, HIL/SIL, vibration/acoustics.
Evidence-focused Master's Thesis:safety case, test plan, compliance dossier and operational limits.
Industry mentoring:lecturers with experience in training, , eVTOL/UAM and flight test.
Flexible format(hybrid/online), international cohorts and support from SEIUM Career Services.
Ethics and safety:a safety-by-design approach, with cyber-OT, DIH and compliance as core pillars.
Capstone project

Build it end to end

Your final project follows the real engineering workflow, step by step, reviewed by your tutor.

Choice of product and market

Identify the emerging climate risks that require existing policy wordings to be reviewed.

Diagnosis of the current policy wording

Review policy wording to detect exclusions, ambiguities and coverage gaps.

Climate exposure analysis

Adapt cover, excesses and limits to new climate hazard scenarios.

Proposal for new wording

Define the boundary between private cover and that of the Consorcio de Compensación de Seguros.

New cover and its price

Assess the impact of changes on pricing, the portfolio and the reinsurance programme.

Career opportunities

Where this takes you

Insurance product officerNatural hazards underwriterClimate risk analystPricing actuarySustainability manager at insurersReinsurance manager
Admissions & scholarships

Requirements

  • No prior degree is required.
  • Internet connection and a computer capable of running the programme's software.
  • Sufficient Spanish to follow technical regulatory texts.

Ready to start?

Send your application today. Our admissions team replies within 72 hours with your study plan and funding options.

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FAQ

Frequently asked questions

The programme totals 300 hours, spread over 3 to 5 months. That is an average of 10 to 15 hours per week, compatible with a full-time job.

You will work with Copernicus Climate Data Store, QGIS, Python (xarray), R and advanced Excel. Free, academic or evaluation versions are used, and the tutor will indicate the free alternative where one exists.

A SEIUM diploma upon passing continuous assessment and the integrating project. This is in-house training, not an official qualification from the Ministry.

Yes. Modules passed in a course or postgraduate diploma in the same area are credited towards the advanced programme. Check the credit transfer policy when you enrol.

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