Interruption by Natural Perils Insurance Course
Online 300-hour course in business interruption insurance for natural perils. 6 Modules Covering Royal Legislative Decree 7/2004 Moody's RMS RiskLink. Assigned tutor and open enrollment.
Interruption by Natural Perils Insurance Course — studying from South Africa
South Africa has one of the more developed insurance and financial services sectors on the continent, with major insurers and reinsurers headquartered in Johannesburg and Cape Town. Actuarial and risk analysis skills are in demand for pricing, reserving and risk management. The Financial Sector Conduct Authority and the Prudential Authority regulate the sector, and insurers rely on data-driven models to meet capital and solvency requirements. Engineers with statistics and data skills are increasingly recruited into these roles.
Fees for South Africa: R 10 200 (South African rand), with instalments and employer sponsorship available.
Relevant bodies in South Africa
Typical roles
Questions from South Africa
Will a SEIUM qualification be recognised by the professional bodies in South Africa for this area?
SEIUM qualifications are private qualifications, not official state degrees, and they are not accredited by any South African body. Actuarial work in South Africa is overseen by the Actuarial Society of South Africa (ASSA), whose professional credentials follow their own examination and regulatory routes. Recognition of a SEIUM qualification is decided by employers or the relevant body, so verify this directly with them before enrolling.
How might this qualification be used by employers in South Africa in insurance and risk roles?
Insurers, banks and risk consultancies look for strong data, modelling and risk skills. A private qualification may support your profile, particularly alongside relevant experience, but it will not replace formal professional credentials where these are required. Whether a particular employer values it is up to them, so it is worth asking hiring managers in your target field how they would view it.
Can I study this programme alongside full-time work from South Africa, and is there a time zone or language issue?
Yes, the programme is delivered fully online and in English, so no student visa is needed to study from home. Master's programmes require 1,900 hours, postgraduate diplomas 800 hours and specialist courses 300 hours. Each student is assigned a technical tutor, fees can be paid in instalments, and employer sponsorship is possible. Ask SEIUM about the time-zone and weekly workload expectations before committing.
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 how a natural peril causes interruption of business activity.
Design business interruption cover and its indemnity periods.
Assess exposure using hazard maps and catastrophe models.
Define the role of the insurance compensation consortium.
Quantify a loss of profits using the insured's financial statements.
Integrate business continuity into prevention and underwriting.
Propose interruption cover for a company exposed to natural hazards.
Who it's for
- Property and business interruption underwriter seeking to specialise in Interruption by Natural Perils Insurance.
- Loss of profits adjuster seeking to specialise in Interruption by Natural Perils Insurance.
- Catastrophe model analyst seeking to specialise in Interruption by Natural Perils Insurance.
- Business continuity consultant seeking to specialise in Interruption by Natural Perils Insurance.
- Corporate risk manager seeking to specialise in Interruption by Natural Perils Insurance.
- Property insurance broker seeking to specialise in Interruption by Natural Perils Insurance.
- Engineering or science graduates looking to enter property insurers.
What you'll work with
- Royal Legislative Decree 7/2004 (Legal Statute of the Insurance Compensation Consortium)
- Royal Decree 300/2004 (Regulation on Extraordinary Risk Insurance)
- ISO 22301 (Business Continuity)
- ISO 31000 (Risk Management)
- Directive 2007/60/EC (Assessment and Management of Flood Risks)
- Insurance Contract Act (Law 50/1980)
6 modules · 300 h
1.1Concept of consequential loss1.2Difference from material damage1.3Material damage as a condition of cover1.4Interruption without own damage1.5Dependency on suppliers and customers1.6Dependency on public utilities1.7Sector vocabulary and acronyms1.8Most exposed sectors1.9Documented cases1.10Exercise: identifying sources of interruption
2.1Insured gross profit and its calculation2.2Indemnity period and its duration2.3Time excess period2.4Supplier and customer cover2.5Denial of access cover2.6Utilities cover2.7Additional operating expenses2.8Underinsurance and its effect2.9Common exclusions2.10Practice: calculating insured gross profit
3.1Analysis of the client's value chain3.2Identifying bottlenecks3.3Critical dependencies and their concentration3.4Estimated recovery time3.5Client continuity plan3.6Redundancy and alternatives3.7Exposure to natural events in the area3.8Accumulation across insureds3.9Risk surveys and reports3.10Practice: analysing a company's dependencies
4.1First actions and mitigation measures4.2Determining the indemnity period4.3Reconstructing the profit and loss account4.4Trends and business adjustments4.5Additional expenses and their acceptance4.6Specialist financial loss adjusting4.7Required accounting documentation4.8Advance payments and their management4.9Common discrepancies4.10Practice: calculating a claim settlement
5.1Business continuity plans5.2Testing and drills5.3Improving client resilience5.4Policy incentives for prevention5.5Managing portfolio accumulation5.6Reinsurance of the cover5.7Monitoring indicators5.8Training for underwriters and claims handlers5.9Lessons from recent events5.10Practice: a resilience plan for a client
6.1Choosing the company and its activity6.2Analysis of the value chain6.3Calculation of gross profit and the period6.4Design of the proposed cover6.5Risk assessment and accumulation6.6Claims management protocol6.7Continuity and prevention plan6.8Monitoring indicators6.9Project report6.10Project defence
How you'll learn
Fully 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, 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 Moody’s RMS RiskLink, QGIS, Oasis LMF, advanced Excel, in free, academic or evaluation versions. Case studies are based on real procedures for calculating a loss of profits after a flood and analysing a business continuity plan. Assessment is continuous across each module plus the final integrative project.
Build it end to end
Your final project follows the real engineering workflow, step by step, reviewed by your tutor.
Explain how a natural peril causes interruption of business activity.
Design loss of profits cover and its indemnity periods.
Assess exposure using hazard maps and catastrophe models.
Define the role of the Consorcio de Compensación de Seguros.
Quantify a loss of profits using the insured's financial statements.
Where this takes you
Requirements
- No prior qualification 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.
Frequently asked questions
The programme consists of 300 hours in total, spread over 3 to 5 months. That is an average of 10 to 15 hours per week, compatible with a full-time job.
The course works with Moody’s RMS RiskLink, QGIS, Oasis LMF and advanced Excel. Free, academic or evaluation versions are used, and the tutor indicates the free alternative where one exists.
An SEIUM diploma upon passing the continuous assessment and the integrative project. It 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 higher-level programme. Please check the credit recognition policy when you enrol.
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