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Fundamentals of Insurance - 1

Name: Fundamentals of Insurance - 1
Rating: 4.5 (39630 reviews)

Part 1

Created byBassel Zeidan

Last updated 7/2026

English

German [Auto],English [Auto],

What you'll learn

Develop an understanding on how we become aware of risk and once we do, how we assess this risk.
Understand and define risk, how we react to risk and identify the types of risk.
Explain the functions of risk management and its uses across industries.
Understand the risk classification, their insurability, and how insurance works.
Define the principles of insurance and understand its importance in practice.

Course content

9 sections • 64 lectures • 6h 8m total length

Lecture 1.1.1: How This Course Builds Professional Foundations6:04
By the end of this lecture, learners will be able to describe the role of FOI 1 within the three-course pathway and identify the professional capabilities they will build.
Lecture 1.1.2: How to Use the Worksheets, Quizzes, and Portfolio Tasks6:16
By the end of this lecture, learners will be able to follow the course activity cycle and organize their downloadable resources for practical use.
Lecture 1.1.3: Baseline Scenario: Meet the Small-Business Client8:55
By the end of this lecture, learners will be able to record initial observations, distinguish facts from assumptions, and identify questions requiring further information.
Lecture 1.1.4: Foundation Diagnostic and Personal Learning Plan11:04
By the end of this lecture, learners will be able to complete a baseline diagnostic, interpret the result constructively, and set a practical learning plan for FOI 1.

Lecture 1.2.1: Understanding Risk Awareness and Assessment11:08
By the end of this lecture, the learner will be able to distinguish risk awareness from risk assessment and explain why awareness must come before assessment.
Lecture 1.2.2: From Everyday Risk to Business Exposure11:32
By the end of this lecture, the learner will be able to translate familiar everyday risks into business exposures using the same awareness and assessment logic.
Lecture 1.2.3: Information, Data, Experience, and Observation10:35
By the end of this lecture, the learner will be able to identify the main inputs used to support risk awareness and risk assessment.
Lecture 1.2.4: Qualitative and Quantitative Assessment Methods9:22
By the end of this lecture, the learner will be able to distinguish qualitative and quantitative risk assessment methods and choose an appropriate method for a basic scenario.
Lecture 1.2.5: Using the Riskometer as a Teaching Tool7:39
By the end of this lecture, the learner will be able to explain what the Riskometer represents and how it can support beginner understanding without replacing formal risk assessment.
Lecture 1.2.6: Using a Likelihood-Impact Matrix10:33
By the end of this lecture, the learner will be able to plot a basic risk on a likelihood-impact matrix and explain the resulting priority level.
Lecture 1.2.7: Building Your First Risk Register14:16
By the end of this lecture, the learner will be able to record risks, causes, controls, ratings, owners, and next actions in a basic register.
Lecture 1.2.8: Guided Workshop: Assessing a Retail Shop11:01
By the end of this lecture, the learner will be able to complete a guided risk assessment for a small retail business and compare the output with a model framework.
Lecture 1.2.9: Module Review and Scenario Quiz8:16
By the end of this lecture, the learner will be able to recall the module decision rules and answer scenario-based questions on awareness, assessment, inputs, methods, matrices, and risk registers.

Lecture 1.3.1: What Does Risk Really Mean?8:21
Define risk in plain language and identify the three basic parts of a risk situation: uncertainty, event, and consequence.
Lecture 1.3.2: Professional Definitions of Risk7:51
Compare common professional definitions of risk and explain why different definitions are useful in different insurance contexts.
Lecture 1.3.3: Risk as Loss, Uncertainty, and Opportunity7:36
Classify risk outcomes as loss, uncertainty, opportunity, or a mixture and explain how this affects professional response.
Lecture 1.3.4: Understanding Risk Attitude8:01
Explain risk attitude and identify why it matters in insurance conversations and workplace decisions.
Lecture 1.3.5: Risk Seekers, Risk Averse, and Risk Tolerant Behaviour9:05
Identify practical signs of risk-seeking, risk-averse, and risk-tolerant behaviour and choose suitable follow-up questions.
Lecture 1.3.6: Using the Risk Attitude Curve Responsibly7:00
Use the risk attitude curve as a learning model while avoiding rigid labels and unsupported assumptions.
Lecture 1.3.7: Module Review and Learner Reflection7:15
Review the module decision rules and apply them to a short risk-attitude scenario.

Chapter Introduction0:44
Chapter Outline
1. Risk Managers
2. General Definition of Risk Management
3. Control Definition
4. Technical Definition of Risk Management
5. Risk Management Functions
6. Benefits of Risk Management
7. Chapter Summary
8. Chapter Quiz
9. Bonus Study Material
Risk Managers1:08
Identify how risk managers control and reduce risk in business entities. Explore their essential duties beyond insurance, across industries like plastics manufacturing and petroleum, as they implement risk management policies.
General Definition of Risk Management1:31
Learn risk management as a set of approaches and steps to reveal and control risk, with a dedicated chapter on controlling risk for entry level insurance professionals.
Control Definition0:25
Technical Definition of Risk Management0:36
Risk Management Functions0:48
Benefits of Risk Management0:31
Learn the benefits of risk management, including reducing potential losses and fewer unwanted surprises, revealing risks that do not appear, and measuring or evaluating the risk.
Chapter Summary0:22
Learn the general and technical definitions of risk management and its functions. Review chapter six thoroughly before moving to chapter seven and ask questions.
Bonus Study Material
Quiz

Chapter Introduction0:48
Chapter Outline
1. Risk Identification
2. Risk Identification Examples
3. Risk Analysis
4. Risk Analysis Examples
5. Risk Controlling
6. Risk Controlling Examples
7. Chapter Summary
8. Chapter Quiz
9. Bonus Study Material
Risk Identification0:13
Risk Identification Example1:44
Explore risk identification through a supermarket case, distinguishing existing and potential shoplifting threats, as a surveyor inspects and reports risks and mitigation ideas such as CCTV.
Risk Analysis0:38
Risk Analysis Example0:38
Risk Controlling0:15
Risk Controlling Example1:21
Chapter Summary1:24
Bonus Study Material
Quiz

Chapter Introduction1:52
Chapter Outline
1. Elimination
2. Substitution
3. Engineering Control
4. Control That Increase Awareness
5. Administrative Controls
6. Personal Protection
7. Categories of Risk Controls
8. Chapter Summary
9. Chapter Quiz
10. Bonus Study Material
Elimination1:14
Substitution0:54
Substitution is the second most effective risk control method when elimination is not possible; outsourcing the work to a third party transfers the risk to that professional.
Engineering Control0:32
Control That Increase Awareness0:31
Administrative Controls0:26
Personal Protection0:53
Categories of Risk Control0:38
Physical Control0:31
Financial Control0:30
Learn how to transfer risk through insurance or contracts, including outsourcing work to a third party and having a security firm accept cash control responsibility.
Educational Control0:22
Educate employees and clients to prevent risks. Build a comprehensive risk culture to boost risk awareness and risk management.
Chapter Summary0:27
Understand the types of risk control and how they are grouped into categories, and learn to implement risk controls in the correct order; review before moving on and ask questions.
Bonus Study Material0:03
Quiz

0 - FOI 1 - Module Introduction1:30
Module Aim and Learning Objectives
The aim of this module is to provide students with an understanding of the risk classification and how insurance works.
At the end of this module, students will be able to:
1. Distinguish between insurable and non-insurable risks.
2. Understand how insurance works, and learn the relationship between risk and insurance as complementary elements in risk management
1 - FOI 1 - Types of Risks and Their Insurability11:58
Explore how risks are classified into financial and non-financial, pure and speculative, and fundamental and particular to determine insurability and guide premium decisions.
2 - FOI 1 - Risk Examples and How Insurance Works9:31
Explore common car risks like theft and accidents and how insurance transfers them via premiums and policies. Learn how insurable risks underpin financial security across health, property, and business.

0 - FOI 1 - Module Introduction2:08
Module Aim and Learning Objectives
The aim of this module is to provide students with the information needed to understand the principles of insurance.
At the end of this module, students will be able to:
1. Understand the principles of insurance and their practical applications in the insurance industry.
1 - FOI 1 - The Principle of Insurable Interest15:07
1 - FOI 1 - The Principle of Insurable Interest - Practical Example15:01
2 - FOI 1 - Principle of Proximate Cause11:32
3 - FOI 1 - Principle of Contribution18:20
3 - FOI 1 - Principle of Contribution - Practical Example20:30
4- FOI 1 - Principle of Indemnity18:41
Understand the principle of indemnity, restoring the insured to preloss condition without profit, and learn how methods like actual cash value, replacement cost, and reinstatement shape payouts.
5 - FOI 1 - The Principle of Loss Minimization13:42
Minimize losses by acting promptly and reasonably after an incident, protecting property and reporting to authorities. Understand the policyholder's and insurer's responsibilities to prevent further damage and maintain fair premiums.
6 - FOI 1 - The Principle of Subrogation10:24
7 - FOI 1 - The Principle of Utmost Good Faith16:35

Requirements

No prior experience or knowledge is necessary to enroll in this course. It is intentionally designed to accommodate individuals with varying backgrounds.

Description

Course Title: Fundamentals of Insurance: Part 1

Course Overview:

This course is a comprehensive course, and it is tailored to provide students with a solid foundation in the field of insurance. It is carefully crafted to provide students, like yourself with the essential knowledge required to understand the terminologies of insurance concepts.

Course Structure and Importance:

The course is structured in multiple parts, each carefully designed to guide students towards a successful career in insurance. Part 1 of the Fundamentals of Insurance is particularly crucial, as this course lays the basis for understanding the core principles of insurance. Understanding these principles is vital for progressing in any subsequent insurance course.

Target Audience:

This course is suitable for a diverse range of individuals, including but not limited to:

1. Students seeking to develop a strong foundation in insurance.

2. Job seekers aiming to enter the insurance industry.

3. Professionals already working within the insurance field.

4. Secretaries seeking to enhance their understanding of insurance operations.

5. Call center agents desiring a comprehensive understanding of insurance concepts.

6. Sales staff aiming to better serve clients in insurance-related contexts.

7. Aspiring underwriters looking to kickstart their journey.

8. Individuals beginning their career as claim personnel.

Course Prerequisites:

No prior experience or knowledge is necessary to enroll in this course. It is intentionally designed to accommodate individuals with varying backgrounds.

Course Aim and Learning Objectives:

The aim of this course is to provide students with an understanding of the fundamentals, basic terms, and principles of insurance.

By the end of this course, students will be able to:

1. Develop an understanding on how we become aware of risk, and once we do, how we assess this risk.

2. Understand and define risk, how we react to risk and identify the types of risk.

3. Explain the functions of risk management, and its uses across industries.

4. Understand the risk classification, their insurability, and how insurance works.

5. Define the principles of insurance and understand its importance in practice.

Course Instructor:

Instructor: Bassel Zeidan

Profession: General Insurance Specialist with over 13 years of experience in Dubai-based insurance companies.

Coaching and Training Experience: With a decade of coaching and training, brings a wealth of practical insights to the course.

Certifications and Memberships: A distinguished member of the Chartered Insurance Institute, and a certified insurance professional, further affirming the expertise in the field.

This course will empower you with the knowledge and skills that will assist you in making informed decisions, and excel in the field of insurance. That is why?

As a key starting point, this course serves as a launchpad for a successful start into the field of insurance.

Who this course is for:

Students
Job seekers
Professionals
Secretary
Call center agent
Sales staff
Underwriting beginners
Claim personnel beginners

Fundamentals of Insurance - 1

What you'll learn

Explore related topics

Course content

Module 1: Start Here - The Insurance Learning Pathway4 lectures • 32min

Module 2: From Awareness to Risk Assessment9 lectures • 1hr 34min

Module 3: Understanding Risk and Risk Attitude7 lectures • 55min

Module 5 Risk Management9 lectures • 6min

Module 6 Risk Management Tasks9 lectures • 7min

Module 7 Types of Risk Control13 lectures • 9min

Module 8 Classification of Risk and Insurance3 lectures • 23min

Module 9 Principles of Insurance10 lectures • 2hr 22min

FOI 1 - Final Exam0

Requirements

Description

Who this course is for: