riskManagemnt

So, you're probably wondering whether it is important to get risk management certification when you're working in the Australian insurance industry. You've probably seen the numerous infomercials on tv and in magazines promoting insurance companies offering discounts to clients who complete risk management classes. So, what is all of the fuss about?

In simple terms, risk can occur in any portion of an insurance product or service. It may be an act, a product or a service offered by an insurer to a customer. Any risk that happens within the"product" or service has an individual or business responsibility. Usually, there's a standard of common sense that dictates the way the insurance company should deal with that risk.

Let's use car insurance for a good example. If you drive a new car and have no driving experience at all, it is likely that you will either (a) not get a discount on the insurance premium or (b) have your car impounded and ruined as you're in the waiting period.