Course Description

This course, ARM 56: Risk Financing, investigates the selection, implementation and monitoring of risk financing techniques and the funds an organization can obtain to pay for any accidental losses which may strike it.

Subjects covered in this course include:

  • Introduction to risk financing.
  • Estimating hazard risk.
  • Self-insurance plans.
  • Retrospective rating plans.
  • Reinsurance.
  • Captive insurance.
  • Contractual insurance.
  • Transferring financial risk.
  • Transferring hazard risk to the capital markets.
  • Allocating costs of managing hazard risk.

Instructor: Sasha Alexander, Co-Founder and Principal BA, RF, CIP, Maccova Inc.

Required textbooks: Risk Financing and Risk Financing Course Guide.


A passing grade of 50% will indicate the completion of the course. You will receive a letter of completion after each course to provide GRMI, indicating you are eligible to write your course designation exam. Upon completion of all three courses with a passing grade, you will receive the Canadian Risk Management Certificate.


  • Up to 10 days before the start of course: Full refund less 15% administrative fee.
  • One to nine days before start of course: Full refund less 30% administrative fee.
  • No refunds will be issued as of the first day of the course.



Successful completion of Risk Assessment and Treatment (ARM 55) or a fundamental knowledge of business management, employee benefits and general insurance (e.g. work experience in the insurance field) is suggested before registering in this course.

Applies Towards the Following Certificates

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Section Title
CRM56 - Risk Financing
7:00PM to 9:00PM
May 09, 2023 to Aug 01, 2023
Schedule and Location
Total Hours
Delivery Options
Course Fee(s)
Course Fee non-credit $650.00
Section Notes

CRM56 is one of the 3 required courses to complete the Risk Management Certificate.

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