Principles of Insurance Regulation and Supervision

ECTS Not Applicable Online Intake Opening Soon, 5.00pm - 7.00pm

The intention of this programme is to provide the participant with an explanation of the prudential and conduct requirements expected of insurance market players in Malta. The programme covers the Insurance distribution Act as transposed from the IDD and outlines the various relevant rules and regulations issued by the authority.

Course Outline

Session 1: The Main Functions and organs of the Malta Financial Services Authority

Session 2: Overview of the Insurance Business Act, 1998

Session 3: Authorisation Requirements Applicable under the Insurance Business Act – PART A

Session 4: Conditions for carrying on Business of Insurance – PART B

Session 5: Overview of the Insurance Distribution Act 2018 – Chapter 403 of the laws of Malta

Session 6: Insurance Distribution rules under the IDA Chapter 487 of the laws of Malta – PART A

Session 7: Insurance Distribution rules under the IDA Chapter 487 of the laws of Malta – PART B

Sessions 8, 9, 10, 11: Overview of the Conduct of Business Rulebook

Session 12: General Good rules for Insurance Intermediaries


This programme is suitable for those working or intending to work within a regulatory environment or are responsible for Insurance compliance and regulation.

Course Outline

Session 1: The Main Functions and organs of the Malta Financial Services Authority

Session 2: Overview of the Insurance Business Act, 1998

Session 3: Authorisation Requirements Applicable under the Insurance Business Act – PART A

Session 4: Conditions for carrying on Business of Insurance – PART B

Session 5: Overview of the Insurance Distribution Act 2018 – Chapter 403 of the laws of Malta

Session 6: Insurance Distribution rules under the IDA Chapter 487 of the laws of Malta – PART A

Session 7: Insurance Distribution rules under the IDA Chapter 487 of the laws of Malta – PART B

Sessions 8, 9, 10, 11: Overview of the Conduct of Business Rulebook

Session 12: General Good rules for Insurance Intermediaries

The participant will:

  • become technically knowledgeable in Insurance and its respective operations
  • be able to perform technical work and supervise the work of subordinates from a regulatory perspective
  • be able to monitor and test policies and procedures in line with regulatory requirements
  • be able to guide employees, including management, on matters related to compliance and supervision
MonthDate
March14th, 21st, 28th
April4th, 11th, 18th, 25th
May2nd, 9th, 16th, 23rd, 30th

Lectures will be held on the following dates, between 5.00 – 7.00 pm
Exam will be held on June 12, between 5.00 – 7.00 pm

There will be 1 examination session of 2 hours duration, during which candidates will be expected to answer 10 questions. The pass mark is set at 55%.

  • Companies effecting group bookings (four or more participants) are entitled to a 10% discount. For group bookings kindly send an e-mail to info@mitcentre.com
  • A 25% cancellation fee is payable for cancellations received within 15 days of the start of the programme.
  • No refund will be provided after the commencement date of the programme.

Total Learning Hours

Full course: 18 hours

Hours include contact hours, supervised practice hours, self-study hours and assesment hours.

Trainers

Josianne Briffa

Josianne has over 15 years of experience in financial services, specialising primarily in the area of financial regulation. She started her career within the Financial Services Advisory Team of a leading audit firm, after which she joined an international group where she led the Compliance and Internals Controls unit for the group’s insurance entities in Malta. In 2013, Josianne joined MAPFRE Malta and she holds the role of Group Chief Compliance Officer.

Josianne is a Certified Public Accountant and holds a Master of Arts in Financial Services with distinction from the University of Malta. She was the first Chairperson of the Regulatory Affairs Sector of the Malta Insurance Association and is a member of the Malta Association of Compliance Officers.

 

 

Elaine Magri

Elaine Magri is an Associate within Ganado Advocates’ insurance and pensions team with particular focus on insurance and re-insurance regulation and corporate matters. Elaine regularly advises the firm’s clients on regulatory and legal matters in relation to insurance and reinsurance companies, insurance intermediaries and captives and also assists clients in general corporate and company law. Elaine regularly assists in matters related to trusts and foundations.

Romina Bonnici

Romina Bonnici is Senior Regulatory Advisor within the insurance and pensions team of Ganado Advocates, with focus on re/insurance and pensions regulation. Romina is an Associate of the Chartered Insurance Institute, UK. She previously worked as Senior Manager in the corporate and insurance law practice group of a local law firm. Romina started her career with the Malta Financial Services Authority in the insurance and pensions supervision unit for ten years and within the authorisation unit for a further period of eight years where she held the position of Deputy Director, leading an analytical and multidisciplinary team whose duties primarily involved the processing of application in the areas of insurance, pensions, trusts and corporate services providers.

I'm interested in this course

If you are interested to join this course when the intake is open please fill in the form below.

Why Choose Us

MITC is made up of a close-knit team with a real passion for learning and insurance, who believe in the continuous development and empowerment of individuals through learning. We understand all of the nuances and challenges that come with insurance training and, that is why we’re here to help you get your training right.

Our courses are developed following in-depth research and consultation on the subject matter and the related market, thus ensuring participant needs are met. All our trainers are experts in their field and actively contribute towards the continuous development of the courses which they deliver.

Our training services are accredited by the Malta Further and Higher Education Authority (MFHEA) and the European Qualifications Framework platforms. MITC’s homegrown insurance programmes are recognised by the renowned Chartered Insurance Institute, UK.

Let's stay in touch

Stay updated with MITC news updates and courses. We promise not to spam your email or share your email with third parties.