CourseInsurance, Risk & Actuarial Data Applications open

Course in Simulation of Natural Catastrophe Scenarios

Online course of 300 h in simulation of natural catastrophe scenarios. 6 modules covering the Sendai Framework for Disaster Risk Reduction 2015-2030, Directive 2007/60/EC (flood risk assessment and management) and Oasis LMF. Dedicated tutor and open enrolment.

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

Course in Simulation of Natural Catastrophe Scenarios — studying from Canada

Canada has a major insurance and financial services sector, with headquarters and operations concentrated in Toronto and Montréal. Insurers and reinsurers rely on actuarial science, risk modelling and data analytics for pricing, reserving and capital management. Federal and provincial regulators oversee solvency, conduct and consumer protection. Engineers and data specialists with risk and modelling skills find roles at insurers, brokers, consultancies and regulatory bodies.

Fees for Canada: C$1,010 (Canadian dollar), with instalments and employer sponsorship available.

Relevant bodies in Canada

  • Office of the Superintendent of Financial Institutions (OSFI)
  • Canadian Institute of Actuaries (CIA)
  • Financial Services Regulatory Authority of Ontario (FSRA)
  • Insurance Bureau of Canada (IBC)

Typical roles

  • Actuarial Analyst
  • Risk Analyst
  • Data Scientist – Insurance
  • Reserving Analyst

Questions from Canada

Is this programme recognised by professional bodies in Canada for insurance and actuarial data work?

SEIUM's qualifications are private, not official state degrees, and are not accredited by a national body in Canada. Actuarial credentials in Canada are governed by the Canadian Institute of Actuaries, and actuarial practice is regulated under provincial and federal rules. A private engineering qualification does not confer these credentials, so confirm recognition with employers or the relevant body yourself.

How might this qualification be used by employers in Canada in insurance or risk roles?

Insurers, banks and risk teams in Canada may value engineering-based data analysis and risk modelling skills, but how they regard a private qualification is their decision. Hiring in these sectors often depends on experience, professional exams and specific credentials. Your final project can serve as evidence of applied skills, though it does not guarantee any role or salary outcome.

What are the practical demands of studying this online from Canada?

Study is fully online and in English, and no student visa is required if you study from home. Programme lengths range from 300 to 1,900 hours, so consider how many hours a week you can commit alongside work. You are assigned a technical tutor for support. Fees can be paid in instalments, and some students receive employer sponsorship, which is possible but not guaranteed.

Virtual lab · try it before you enrol

Take the controls.

Run a real engineering trade-off from this field. Move the sliders, watch the model react in real time and beat the challenge.

SIM · LIVE ●
Learning outcomes

What you will be able to do

01

Explain the role of scenario simulation in catastrophe risk management.

02

Build realistic hazard scenarios from historical events and scientific data.

03

Quantify the economic and insured damage and losses of a scenario.

04

Design reverse and stress scenarios to identify vulnerabilities.

05

Integrate the results into capital and reinsurance planning.

06

Organise response drills for mass-claim events.

07

Communicate results clearly to management and authorities.

Profile

Who it's for

  • Catastrophe modeller who wants to specialise in simulation of natural catastrophe scenarios.
  • Natural hazard scenario analyst who wants to specialise in simulation of natural catastrophe scenarios.
  • Catastrophe risk manager who wants to specialise in simulation of natural catastrophe scenarios.
  • Emergency planning technician who wants to specialise in simulation of natural catastrophe scenarios.
  • Non-life actuary who wants to specialise in simulation of natural catastrophe scenarios.
  • Accumulation analyst who wants to specialise in simulation of natural catastrophe scenarios.
  • Engineering or science graduates looking to join insurance companies.
Standards & tools

What you'll work with

  • Sendai Framework for Disaster Risk Reduction 2015-2030
  • Directive 2007/60/EC (Flood Risk Assessment and Management)
  • Royal Legislative Decree 7/2004 (Legal Statute of the Insurance Compensation Consortium)
  • Law 17/2015 on the National System of Civil Protection
  • Spanish Seismic Construction Standard NCSE-02
  • Delegated Regulation (EU) 2015/35 (Catastrophe Risk Sub-Module)
  • ISO 22301 (Business Continuity)
Syllabus

6 modules · 300 h

  1. 1.1Why simulate a scenario
  2. 1.2Deterministic versus probabilistic scenario
  3. 1.3Historical and synthetic scenarios
  4. 1.4Use in risk management and in crises
  5. 1.5Difference from the full catastrophe model
  6. 1.6Supervisory scenarios
  7. 1.7Vocabulary and acronyms in the field
  8. 1.8Credibility and plausibility of the scenario
  9. 1.9Common errors in design
  10. 1.10Exercise: defining a reference scenario
  1. 2.1Choice of hazard and its severity
  2. 2.2Location and footprint of the event
  3. 2.3Chaining of effects
  4. 2.4Time horizon of the scenario
  5. 2.5Explicit assumptions and their justification
  6. 2.6Exposure data required
  7. 2.7Applied vulnerability
  8. 2.8Indirect and business interruption effects
  9. 2.9Scenario documentation
  10. 2.10Practice: building a complete scenario
  1. 3.1Direct losses to the portfolio
  2. 3.2Indirect and business interruption losses
  3. 3.3Effect on reserves and liquidity
  4. 3.4Effect on capital and solvency
  5. 3.5Reinsurance recoveries and their timing
  6. 3.6Counterparty risk after the event
  7. 3.7Effect on financial markets
  8. 3.8Uncertainty of the result
  9. 3.9Comparison between scenarios
  10. 3.10Practice: quantification of a scenario
  1. 4.1Reverse scenario and its usefulness
  2. 4.2Identifying the breaking point
  3. 4.3Combination of simultaneous events
  4. 4.4Extreme tail scenarios
  5. 4.5Emerging risk scenarios
  6. 4.6Liquidity tests
  7. 4.7Supervisory scenarios and their response
  8. 4.8Limitations of the exercises
  9. 4.9Communicating the results
  10. 4.10Practice: designing a reverse scenario
  1. 5.1Integration into risk management
  2. 5.2Appetite and limit decisions
  3. 5.3Derived contingency plans
  4. 5.4Crisis drills with management
  5. 5.5Response and communication protocols
  6. 5.6Reporting to the board and the supervisor
  7. 5.7Periodic review of scenarios
  8. 5.8Lessons from real events
  9. 5.9Culture of preparedness
  10. 5.10Practice: script for a crisis drill
  1. 6.1Choice of entity and hazard
  2. 6.2Design of the reference scenario
  3. 6.3Quantification of consequences
  4. 6.4Complementary reverse scenario
  5. 6.5Derived contingency plan
  6. 6.6Drill script with management
  7. 6.7Reporting plan
  8. 6.8Planned review and improvement
  9. 6.9Methodological report
  10. 6.10Project defence
Methodology, software & labs

How you'll learn

Fully 100 % online training on the SEIUM campus, with downloadable material, recorded classes and a dedicated technical tutor. No fixed timetables: learners progress at their own pace within the intake, which makes it possible to combine study with work.

Each module combines theory, guided reading of the original standard and applied exercises. The working software is Oasis LMF, Verisk Touchstone, Moody’s RMS RiskLink, QGIS, Python (NumPy, SciPy), in free, academic or evaluation versions. Hands-on work is based on real procedures for constructing deterministic earthquake and flood scenarios, mass-claims management drill exercises and reverse scenarios for stress testing. Assessment is continuous by module plus the final integrative project.

Accreditable laboratories(EN ISO/IEC 17025) with rotor test rig, EMC/Lightning pre-compliance, HIL/SIL, vibration/acoustics.
Evidence-oriented final project:safety case, test plan, compliance dossier and operational limits.
Industry-mentored:lecturers with a track record in training, , eVTOL/UAM and flight test.
Flexible format(hybrid/online), international cohorts and support from SEIUM Career Services.
Ethics and safety:with a safety-by-design approach and cyber-OT, DIH and compliance as its 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 entity and hazard

Explain the role of scenario simulation in catastrophe risk management.

Design of the reference scenario

Build realistic hazard scenarios from historical events and scientific data.

Quantification of consequences

Quantify the economic and insured damage and losses of a scenario.

Complementary reverse scenario

Design reverse and stress scenarios to identify vulnerabilities.

Derived contingency plan

Integrate the results into capital and reinsurance planning.

Career opportunities

Where this takes you

Catastrophe modellerNatural hazard scenario analystCatastrophe risk managerEmergency planning technicianNon-life actuaryAccumulation analyst
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 reading.

Ready to start?

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

FAQ

Frequently asked questions

The programme comprises 300 hours in total, spread over 3 to 5 months. That is between 10 and 15 hours a week on average, compatible with a full-time job.

The course works with Oasis LMF, Verisk Touchstone, Moody’s RMS RiskLink, QGIS, Python (NumPy, SciPy). Free, academic or evaluation versions are used, and the tutor indicates the free alternative where one exists.

An in-house SEIUM Institute diploma upon passing the continuous assessment and the integrative project. It is in-house training, not an official qualification issued by the Ministry.

Yes. Modules passed in a course or postgraduate diploma in the same area can be recognised towards the higher programme. Check the recognition policy when you enrol.

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