Courses
The Insurance Act 18 of 2017
The statute that licenses and supervises South African insurers, from licensing and governance through to transfers, rescue and administrative penalties.
Curriculum
What this course covers.
Twenty lessons, in the order you work through them, from the Act in context through to administrative penalties. This is the syllabus; lessons publish on a rolling basis and your library will show exactly what is ready as each one publishes.
- The Act in context: Twin Peaks, and what the Insurance Act replaced8 min
- Architecture of the regime: the Act, the Prudential Standards, the Conduct Standards, and who issues what9 min
- Scope and application: who must hold a licence, and the classes of business8 min
- The licensing application: what the Prudential Authority requires and how it assesses9 min
- Licence conditions: imposition, variation, and what they actually bind8 min
- Microinsurance: the licence class and what is deliberately lighter about it8 min
- Lloyd's and branches of foreign reinsurers: the separate routes in8 min
- Controlling companies and the designation of an insurance group9 min
- Group supervision: what designation triggers, and for whom9 min
- The governance framework the Act requires of a board9 min
- Heads of control functions: actuarial, risk, compliance and internal audit9 min
- Fit and proper: who it binds and what it tests8 min
- Outsourcing: materiality, notification, and the responsibility you cannot outsource8 min
- Risk management and own risk assessment as the Act frames them9 min
- Financial soundness in the Act versus the Prudential Standards: where SAM picks up9 min
- Reporting to the Prudential Authority, and public disclosure8 min
- Transfers and amalgamations of insurance business: the regulatory and court process10 min
- Business rescue, run-off and the winding-up of an insurer9 min
- Supervising insurers: how the FSR Act's inspection, directive and penalty powers apply under the Insurance Act7 min
- Administrative penalties: how they are set, paid and enforced8 min
Buying
R1,950, twelve months, when it opens.
One price, twelve months.
R1,950
Not yet open for enrolment
The price and access period are the same as every other course, twelve months from purchase. This course opens for enrolment once its first lessons are in the library.
12 months of access
Every lesson published so far, plus every lesson added and every revision made during your access period. Your library shows exactly what is ready as each lesson publishes.
Practice only
12 months of Insurance Act Practice, without the course
Exam-style questions on every lesson's objectives, each with a worked solution and the standard paragraph behind the answer, plus flashcards scheduled by how well you know them. Every test draws fresh questions and leans toward what you have found hardest.
Lessons are not included. If you want those too, the course is better value: course holders add Practice from their member area for less.
Bundle
Also in the SA insurance regulation bundle
The Insurance Act, the FSR Act supervision course and SAM, together, at one bundle price. See the bundle on the pricing page.
Questions
Before it opens.
Before you enrol.
Who is this course for?
Actuaries, compliance, risk and finance people at South African insurers who need to know what the Act itself requires: licensing, governance, group supervision, transfers and penalties.
Is this the same as the SAM course?
No. This course covers the Act itself. SAM covers the Prudential Standards made under it, such as the technical provisions and the SCR. Where the Act hands over to the Standards, the lessons say so, and the SAM course picks up from there.
Why is this not open yet?
Amatle Institute does not sell a course before its lessons are ready. This one is priced and built, and opens once the first lessons are in the library.
Does this count towards CPD?
Yes, as evidence. Your certificate is verifiable CPD evidence: it states the hours of recorded instruction you completed and the learning outcomes of every lesson, and anyone can check it at the verification link printed on it. Amatle Institute is not an accredited CPD provider, so you log it with your professional body (SAICA, SAIPA, IAC, ICBA, CIGFARO or ASSA, for example) under that body's own rules. See what each body publishes.