Course in Cat Bonds in Mobility and Infrastructure
300-hour online course in cat Bonds in mobility and infrastructure. 6 modules covering Directive 2009/138/CE (Solvency II, securitisation vehicles), Delegated Regulation (EU) 2015/35 and Verisk Touchstone. Assigned tutor and open enrolment.
Course in Cat Bonds in Mobility and Infrastructure — studying from Malta
Insurance is one of Malta's established financial sectors, with a regulatory framework that has attracted captive insurers, reinsurers and specialist underwriters. This creates demand for professionals who can model risk, analyse claims data and support actuarial functions. Engineers with statistical skills are valued in pricing, reserving and risk management. Employers include licensed insurers, brokers, consultancies and the regulator itself, where quantitative and technical expertise is increasingly important.
Fees for Malta: €743 (Euro), with instalments and employer sponsorship available.
Relevant bodies in Malta
Typical roles
Questions from Malta
Which professional bodies in Malta relate to insurance, risk and actuarial work, and does SEIUM's qualification fit?
SEIUM Institute's qualifications are private qualifications, not official Maltese state degrees, and they are not accredited by any national body. In Malta, insurance and financial services are supervised by the Malta Financial Services Authority, and professional actuarial qualifications are set by international bodies that Maltese firms commonly follow. Whether SEIUM's training is recognised is for employers or the relevant body to decide.
What roles in Malta might this training support in insurance or risk management?
Malta has a significant insurance, reinsurance and financial services sector, and firms there employ people in risk analysis, data and modelling roles. Whether a private engineering-focused qualification counts for a given role depends on the employer's requirements and the qualifications they already expect. Reviewing current job descriptions in Malta and asking employers directly will show how your training would be viewed.
How much time does this need each week, and what language level is required?
Master's programmes total 1,900 hours, postgraduate diplomas 800 hours and specialist courses 300 hours, delivered fully online. Spread over the programme length, this suits people working full-time if they set a steady weekly schedule. Teaching is in English, so you should be comfortable reading and writing technical English. Fees can be paid in instalments, and employer sponsorship is possible.
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.
What you will be able to do
Explain the role of catastrophe bonds within alternative risk transfer.
Describe the structure of an issuance, the special purpose vehicle and the collateral account.
Compare indemnity, industry index, parametric and modelled loss triggers.
Quantify the basis risk associated with each type of trigger.
Interpret the results of a catastrophe model: expected loss and probability of exhaustion.
Evaluate the application of catastrophe bonds to transport networks and critical infrastructure.
Design the preliminary structure of a catastrophe bond for a mobility infrastructure.
Who it's for
- Alternative risk transfer analyst who wants to specialise in Cat Bonds in mobility and infrastructure.
- Catastrophe modeller who wants to specialise in Cat Bonds in mobility and infrastructure.
- Structurer of insurance-linked securities who wants to specialise in Cat Bonds in mobility and infrastructure.
- Reinsurance manager who wants to specialise in Cat Bonds in mobility and infrastructure.
- Infrastructure risk manager who wants to specialise in Cat Bonds in mobility and infrastructure.
- ILS investment analyst who wants to specialise in Cat Bonds in mobility and infrastructure.
- Engineering or science graduates looking to enter reinsurance.
What you'll work with
- Directive 2009/138/CE (Solvence II, securitization vehicles)
- Delegated Regulation (EU) 2015/35
- Regulation (EU) 2017/2402 (securities)
- Regulation (EU) 2017/1129 (Brochure)
- Rule 144A (SEC)
- Bermuda Insurance Act 1978
6 modules · 300 h
1.1What a catastrophic risk is and why traditional insurance falls short1.2Insurance market capacity and the role of reinsurance1.3Overview of alternative risk transfer instruments1.4What a catastrophe bond is and the problem it solves1.5Participants: sponsor, vehicle, investors and modeller1.6Cash flows of the transaction, step by step1.7The market: size, history and episodes that shaped it1.8Advantages and drawbacks compared with traditional reinsurance1.9Market vocabulary and how to read an issuance factsheet1.10Exercise: describe the structure of a real issuance
2.1The special purpose vehicle and its function2.2The underlying reinsurance contract2.3Collateral account and collateral management2.4Tranches, priority of payments and credit rating2.5Coupon, spread and risk premium2.6Term, risk period and extension mechanisms2.7Covered events and precise definition of the peril2.8Legal documentation of the issuance2.9Taxation and jurisdiction of the vehicle2.10Practice: sketch the structure of an issuance
3.1Indemnity trigger: fidelity to actual loss and slowness3.2Parametric trigger: speed in exchange for basis risk3.3Industry indices and modelled loss triggers3.4Parameter design and reliable measurement sources3.5What basis risk is and how it is limited3.6The calculation agent and dispute resolution3.7Transparency and verifiability of the trigger3.8Cases where damage occurred and the trigger did not activate3.9Combinations and layered triggers3.10Practice: design a parametric trigger
4.1Model components: hazard, exposure and vulnerability4.2Loss exceedance curves and how to read them4.3Average annual loss and probability of tranche exhaustion4.4Return period and the common misinterpretation4.5Exposure data for infrastructure and fleets4.6Vulnerability of mobility assets: bridges, tunnels and rolling stock4.7Service interruption and indirect losses4.8Climate change and risk that is no longer stationary4.9Model uncertainty and sensitivity analysis4.10Practice: interpret a loss exceedance curve
5.1Risks specific to the infrastructure operator5.2Ports, airports and logistics hubs5.3Rail and road networks facing extreme events5.4Concessions, contracts and contractual risk allocation5.5Public funding and the role of multilateral agencies5.6Physical resilience versus financial transfer: when each applies5.7Cost of capital and the decision to issue5.8Communication with investors and the public5.9Sovereign and infrastructure issuance cases5.10Practice: assess whether to issue or reinsure
6.1Choosing the asset or portfolio to protect6.2Characterising the hazard and exposure6.3Modelling and quantification of loss6.4Trigger and structure design6.5Tranche sizing and indicative pricing6.6Analysis of the basis risk assumed6.7Comparison with reinsurance alternatives6.8Investor documentation6.9Project report6.10Project defence
How you'll learn
Fully 100 % online training on the SEIUM Institute campus, with downloadable material, recorded classes and an assigned technical tutor. There are no fixed timetables: students 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 Verisk Touchstone, Moody’s RMS RiskLink, Oasis LMF, Python (pandas), R, in free, academic or evaluation versions. Practical work covers the simulated structuring of a catastrophe bond issue, basis risk analysis with parametric triggers, and loss modelling for transport infrastructure. Assessment is continuous, module by module, plus the final integrating project.
Build it end to end
Your final project follows the real engineering workflow, step by step, reviewed by your tutor.
Explain the role of catastrophe bonds within alternative risk transfer.
Describe the structure of an issuance, the special purpose vehicle and the collateral account.
Compare indemnity, industry index, parametric and modelled loss triggers.
Quantify the basis risk associated with each type of trigger.
Interpret the results of a catastrophe model: expected loss and probability of exhaustion.
Where this takes you
Requirements
- No prior qualification is required.
- Internet connection and a computer capable of running the programme's software.
- English proficiency sufficient 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.
Frequently asked questions
The programme totals 300 hours spread over 3 to 5 months. This amounts to an average of 10 to 15 hours a week, compatible with full-time work.
Work is carried out with Verisk Touchstone, Moody’s RMS RiskLink, Oasis LMF, Python (pandas), R. Free, academic or evaluation versions are used, and the tutor indicates the open-source alternative where one exists.
SEIUM Institute's own 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 field are credited towards the advanced programme. Check the credit transfer policy when you enrol.
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