Royal Center has an established working relationship with Bahrain Institute of the Banking and Finance (BIBF) in the area of insurance training since 2003. The BIBF is the most renowned training institute in Middle East and North Africa with a worldwide reach in the area of Takaful and Islamic Finance (www.bibf.com)

The Professional Insurance Certificate (PIC) is a technical and supervisory qualification for insurance staff working across all sectors of the industry. It will provide candidate with a firm grounding in insurance fundamentals and will enable you to build towards advanced technical knowledge, thereby ensuring you have the means to function effectively in a challenging environment. In addition to being a valuable qualification in its own right, PIC can also be a milestone on the route to completion of the Advanced Diploma (ACII). In completing PIC candidate will be eligible for receive Diploma in Insurance (Dip cii) from the CII. In addition, candidate would have 120 credits that can also be used towards the Advanced Diploma (for which 290 are required in total).

The Professional Insurance Certificate (PIC) is offered in cooperation with the Bahrain Institute of Banking and Finance (BIBF) and the Chartered Insurance Institute (CII).

Royal Center offer tuition classes for all of the five PIC courses throughout the year.

The qualification is composed of the following five subjects:

W02 - Award in General Insurance

The course covers the nature and main features of risk and insurance, the structure and main features of the insurance market, the main legal principles governing insurance contracts, the main regulatory and legal principles applicable to the transaction of insurance business and key aspects of ethics, corporate governance and internal controls.

W02 - Award in General Insurance is minimum requirement in a number of jurisdiction for any agent selling property and casualty insurances.

P05A - Insurance Law

The objective of this course is to provide an insight into the laws which underpin the operations of insurance. The course the laws which form a background to the operation of insurance, the system within which these laws operate and are administered and candidate acquire the ability to apply knowledge and skills to practical situations.

P04A - Insurance Principles & Practice 

The objective of this course is to develop an understanding of the objectives and functions of insurance companies and business organizations and the regulatory environment in which they operate. It covers the objectives of business organizations, the functions that all business organizations must perform, the regulatory environment in which business organizations operate and helps candidate acquire the ability to apply knowledge and skills to simple situations.

(this subject will be replaced with P92A - Insurance Business and Finance after April 2010)

P92A - Insurance Business and Finance

The objective of the course to develop an understanding of the structure of the insurance business, the management of insurance businesses, the main aspects of corporate governance, other common functions within insurance organizations, the main accounting principles and practices, the main practices of insurance company accounts, the use of financial ratios to assess businesses and the financial strength of insurance companies.

P10A - Introduction to General Commercial Insurances

The objective of this course is to develop an understanding of the fundamental principles and practices relating to commercial general insurances. The course covers the fundamental principles and practices relating to commercial general insurances, skills required to develop the ability to recommend insurance products to meet specified client needs and help candidates to acquire the ability to apply knowledge in the working environment.

 (this subject will be replaced with P94A – Motor Insurance after October 2010)

P94A - Motor Insurance

The objective of the course is to develop an understanding of the nature of and main factors impacting on motor risk, the scope of cover available for motor cars, motor cycles, commercial vehicles and other motor risks, the market practices of motor insurance, including documentation, risk perception, evaluation and underwriting of motor insurance and the claims considerations and procedures of motor insurance.

590A - Principles of Takaful

The objective of the courses is to develop knowledge and understanding of the technical aspects of Islamic Insurance (Takaful) and its application in the global marketplace.  The course cover nature and principles of Islamic insurance, Sharia framework of Islamic insurance, operational framework of Islamic insurance, structure of Islamic insurance markets, constraints and opportunities for Islamic insurance and day in which ethical considerations of Islamic insurance are applied and practiced.