INS693 - Insurance

Outline information
Schools offering this subject
Last revision date Jun 3, 2019 12:21:42 AM
Last review date Aug 2, 2019 12:15:12 AM

Subject Title

Subject Description
This course is the foundation of all the courses offered in the CIP PROGRAM of the Insurance Institute of Canada. Students will study the basic concepts and language of insurance; the legal context of insurance and the participants in the industry and their relationships to each other. Study will also evolve around how insurance and Risk Specialists, interact with various insurance departments, to evaluate and rate risk tolerance, by identifying Loss Frequency vs. Loss Severity, as it pertains to property, and liability loss exposures.  The principles learned here underlie most situations you will encounter in Property and Liability insurance, when applying basic understanding of exposures, and the fundamental strategies to reduce or eliminate these risks.

Credit Status
On college credit..

Learning Outcomes
Upon successful completion of this subject the student will be able to:

  1. Discuss the multi-faceted nature of the insurance business;
  2. Identify risk issues and explain how insurance companies responds to these issues;
  3. Recognize some of the law that deals with insurance;
  4. Identify  some of the terms and practices commonly encountered in the insurance business;
  5. Identify a variety of careers available in the Insurance Industry.

Essential Employability Skills
Apply a systematic approach to solve problems.

Use a variety of thinking skills to anticipate and solve problems.

Locate, select, organize, and document information using appropriate technology and information systems.

Manage the use of time and other resources to complete projects.

Take responsibility for one's own actions, decisions, and consequences.

Academic Integrity
Seneca upholds a learning community that values academic integrity, honesty, fairness, trust, respect, responsibility and courage. These values enhance Seneca's commitment to deliver high-quality education and teaching excellence, while supporting a positive learning environment. Ensure that you are aware of Seneca's Academic Integrity Policy which can be found at: Review section 2 of the policy for details regarding approaches to supporting integrity. Section 2.3 and Appendix B of the policy describe various sanctions that can be applied, if there is suspected academic misconduct (e.g., contract cheating, cheating, falsification, impersonation or plagiarism).

Please visit the Academic Integrity website to understand and learn more about how to prepare and submit work so that it supports academic integrity, and to avoid academic misconduct.

All students and employees have the right to study and work in an environment that is free from discrimination and/or harassment. Language or activities that defeat this objective violate the College Policy on Discrimination/Harassment and shall not be tolerated. Information and assistance are available from the Student Conduct Office at

Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Accessibility Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.