Quizzes
Short paths to work through one precise mechanism. Every question starts from a real case, every answer links to the glossary entry that explains it in full. No account, no sign-up, no consequences.
150 quizzes available · 1129 questions
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Private certification issued by AlgoPolis under its sole authority. It is not registered with France Compétences, in either the RNCP or the specific register, and does not qualify for the French personal training account.
Is cyber risk insurable?
Accumulation, silent cyber, war exclusion: the three reasons cyber resists the classic tools of insurance, and what the market built in response.
Reinsurance fundamentals
Proportional or non-proportional, attachment and limit, reinstatement, rate on line: the grammar of a reinsurance programme, explained through the decisions it serves.
Reading an insurance income statement
Combined ratio, IBNR, loss triangle, ultimate loss: how a technical account reads, and what a good number can hide.
The law that decides whether a policy pays
Proximate cause, direct physical loss, sanctions exclusions, final adjudication: ten legal mechanisms that decide, far more than the size of the limit, whether a loss is paid. Each one set on a real case.
Pricing a risk, and seeing where the maths goes wrong
From pure premium to gross premium, then to the exact places where the maths stops being true: too little credibility, tail correlation ignored, a risk measure that is not coherent, reserves that drift. Nine questions with numbers.
What a policy actually pays
A headline limit is almost never what gets paid. Sub-limits, aggregates, deductibles, waiting periods, trigger basis: ten mechanisms that decide the real figure, each set on a worked case.
How a model fails, and who answers for it
Data poisoning, adversarial examples, model inversion, silent drift, proxy discrimination: nine ways an artificial intelligence system goes wrong, and what each one does to the risk of whoever runs it.
Specialty lines, where insurance leaves the standard frame
A hole in one, a cancelled tour, a well blowout, a battery in runaway, profits trapped by exchange controls: ten lines where ordinary insurance reasoning stops working, and what each had to invent.
Anatomy of an attack, from entry to exfiltration
Nine real techniques, each dated and documented: the 2013 watering hole, Stuxnet and its stolen signed driver, the WannaCry kill switch, the 2015 Ukrainian blackout, the 2024 LockBit takedown. What an underwriter needs to read in an incident report.
The fine mechanics of a reinsurance treaty
Subject premium, profit commission, stop-loss, CRESTA zones, retrospective covers: nine mechanisms reinsurance uses daily that no definition captures on its own. Three questions are worked out in figures, and two show where risk transfer stops being one.
Cycles, marketplaces and capacity
Why a cyber premium triples in 2021 and settles in 2024, why everything happens on 1 January, who underwrites without carrying risk, and what an African state buys when it insures its drought. Eight market mechanisms, each one dated.
Module check: classifying the fact
Five questions to take right after the module. They cover the non-accumulation mechanism, the dating of the triggering event in the worked case, and what separates a political default from a commercial one.
Validation quiz: political risk insurance
The certification's eighteen objectives, and above all what happens between them: classification drives the date, the date drives the policy year and sometimes the amount, evidence is provoked rather than collected, recourse against a state is worth only what the structure chosen before the loss was worth, a policy insuring shares rather than an asset indemnifies share value after debt, a dispute resolution clause can make a paid-for cover unreachable, and a trademark registered to the subsidiary is taken with the plant. Unproctored quiz with a public answer key: it gates delivery at the certification's threshold, it does not prove knowledge under supervision.
Alternative risk transfer, and what it does not transfer
Captives, cat bonds, sidecars, industry loss warranties, parametric covers: nine structures that move risk out of the conventional insurance circuit. Every question turns on what the structure leaves behind, locked-up capital or basis risk, because that is where alternative transfer is judged.
The data center, an industrial risk that turned digital
Redundancy, Tier classification, the electrical backup chain, heatwaves, fire, cloud dependency: nine questions on the one property risk whose interruption hits thousands of companies that suffered no damage at all. Every case is dated and documented.
Insuring space: launch, orbit, liability
A narrow market where one loss can consume a share of the sector's annual premium, where recourse against the party at fault is contractually barred, and where half the claims are degradations rather than destructions. Ten questions, each anchored on a dated event.
Underwriting cyber: what actually decides the loss
The attacker's economy, shared dependency, and the wording. Nine questions on what really sets the cost of a cyber loss, which is almost never the attack itself: a four-hour deductible weighs more than a limit, and underwriting hospital by hospital protects against nothing.
What decides whether a treaty pays, and how you get out of one
A layer, an hours clause, a follow clause, an alignment provision: nine mechanisms that decide the amount after signature, once the treaty's principle is settled. The last three questions cover the exit, fronting, run-off and portfolio transfer, which is the blind spot of most reinsurance courses.
The controls cyber underwriting looks at, and what they prove
A questionnaire everyone answers yes to measures nothing. Nine questions on what each control actually establishes, what it leaves open, and the case where the control itself becomes the shared risk.
Climate and insurability: what the insurer absorbs, and what it decides
Climate reaches an insurer through three doors at once: what it discloses, what it carries on its balance sheet, and what it chooses to write or decline. Nine questions across all three, including the 2023 episode in which a coordinated climate commitment turned out to carry a legal risk of its own.
Insuring M&A transactions
Warranty and indemnity, tax liability, contingency, directors' run-off: four policies that do not cover the same thing and are routinely confused. Nine questions on what each takes, what each leaves, and why this underwriting looks more like writing an opinion than rating a risk.
Financial lines: five policies on one client
Directors and officers, professional liability, crime, employment practices, fiduciary liability: five products sold to the same client, partly overlapping, whose boundaries never depend on the seriousness of the facts but on who claims and on what basis.
The French CatNat scheme, and the peril outgrowing it
A flat surcharge, a ministerial order that triggers everything, an unlimited state guarantee, and a peril with no dated event that has become the scheme's fastest-growing cost. Nine questions on a French singularity no international course teaches.
Marine insurance, and what the shadow fleet changes
Three separate policies on one ship, a centuries-old loss-sharing institution still in use, and vessels whose strategic value is precisely that nothing can be attributed to them. Nine questions on the oldest branch of modern insurance and on its newest problem.
Energy insurance, from blowout to battery
A loss where insurance bounded a first slice and left the rest to the operator's balance sheet, a liability regime that protects suppliers by suing the operator alone, and a peril whose stored energy is at once what gives the asset its value and what destroys it. Nine questions on risks, two of which are only now being born.
Where an insurer's money actually is
The float, the standard that forbids booking a profit at inception, duration matching, the longevity bond nobody ever managed to issue: ten mechanisms that decide what an insurer really earns, and when.
Validation quiz: insuring fine art
Forty questions on the certification's objectives, and above all on what happens between its twenty-four modules: agreed value governs total loss and abandons partial loss, an undeclared acquisition loses its benefit without losing cover, depreciation is measured against a condition record nobody made, nail to nail follows the object where an official order follows the place, a title that collapses retroactively erases the interest a transit loss was already settled on, value can vanish without any object being touched, a per-object deductible makes sixty deductions where the collector expected one, a defaulting line stays with the insured, and an installation's certificate is the item that carries the value. Unproctored quiz with a public answer key: it gates delivery at the certification's threshold, it does not prove knowledge under supervision.
Validation quiz: construction insurance for major projects
Sixty-three questions on the certification's fifty-six objectives, and above all on what happens between them: the acceptance date drives which policy answers, the defect wording drives the split, the testing window is counted in calendar days, and a delay is quantified only for the share attributable to covered physical damage. Unproctored quiz with a public answer key: it gates delivery at the certification's threshold, it does not prove knowledge under supervision.
Module check: the aggregation window
Five questions to take right after the module. They cover what the start time decides, the case of the vendor compromised in January, and the two clocks that nothing synchronizes.
Module check: the cyber war exclusion
Five questions to take right after the module. They cover what an attribution-conditional clause changes, the burden of proof under an inherited wording, and the hole opened by a tower whose lines do not match.
Module check: the cloud outage
Five questions to take right after the module. They cover the case's two dates, what separates an aggregation from an indemnity, and the expense the model sees in neither scenario.
Module check: physical damage in industrial cyber
Five questions to take right after the module. They cover routing by consequence, the seam between two exclusions, and the evidence that restarting destroys.
Module check: reinstatement
Five questions to take right after the module. They cover the three-event year, what prorata temporis charges for, and the link between splitting a loss and losing the year.
Module check: sanctions and ransom
Five questions to take right after the module. They cover what a sanction correlates, the difference between an impediment and an exclusion, and the only moment when the question can usefully be asked.
Validation quiz: the cargo shipped, the payment never came
Fifty-eight questions on the certification's objectives, and above all on what happens between its modules: the cause of default names the family of risk but the object of the cover names the policy that responds, a sanction leaves a claim covered and unpayable, a country aggregate is shared with insureds you never see, a receivable that circulates separates who notifies from who loses, a stretch-out signed to save the relationship undoes the claim it was meant to save, a documentary confirmation shifts country risk without touching conformity, and the nominal of a rescheduling says nothing about what the insured will collect. Unproctored quiz with a public answer key: it gates delivery at the certification's threshold, it does not prove knowledge under supervision.
Module check: the waiting period and the amount
Five questions to take right after the module. They cover what the waiting period actually removes, the blocked dividend of 4.2 billion local units, and the fight the insured thinks it has to wage.
Module check: proving the fact
Five questions to take right after the module. They cover evidence that is provoked rather than collected, the note to the accounts someone proposes to amend, and who must sign the letter.
Module check: the loss nothing broke
Five questions to take right after the module. They cover the burned truck and the curfew that followed, what a denial-of-access extension reimports, and the word that gets applied after the fact.
Module check: the cover that demands an award first
Five questions to take right after the module. They cover two families of wording sharing one name, the contract giving jurisdiction to the debtor's own courts, and who funds the arbitration.
Module check: winning is not recovering
Five questions to take right after the module. They cover the two immunities, the expiring 35 percent offer, and the four million uninsured nobody looked at in 2021.
Module check: the period and the world that never was
Five questions to take right after the module. They cover sorting circumstances in the counterfactual, the tail from August to January, and the document that carries the file.
Module check: settling with the state
Five questions to take right after the module. They cover two duties commanding the same act in opposite directions, the 40 percent offer in local bonds, and the three steps to take within thirty days.
Module check: the trade credit boundary
Five questions to take right after the module. They cover the question nobody asks at the counter, the 3.6 million unpaid in the worked case, and the gap between two policies.
Module check: the covered loss nobody can pay
Five questions to take right after the module. They cover the third state insurance does not model, the half-sentence that decides, and the three steps to take at once.
Module check: the public agency and the private market
Five questions to take right after the module. They cover the 400,000 euros saved that endanger twelve million, what a public tariff is not, and the recovery in which the exporter holds no seat.
Module check: the aggregate, the country limit and the seam
Five questions to take right after the module. They cover the three subsidiaries and the 27 million, the queue nobody publishes, and the upper layer that never attaches.
The rules that govern a European insurer
GDPR, NIS2, DORA, Solvency II, the AI Act: nine questions on which one applies, to whom, since when, and what each actually requires. Every question starts from a situation, not from the name of a text.
Module check: two interests in one object
Five questions to take right after the module. They cover the painting left with the gallery, the 200,000 euro commission nobody insured, and the one question a consignment contract must settle.
Module check: theft and unexplained disappearance
Five questions to take right after the module. They cover the sculpture missing after twenty-six months, the head of claim one declares, and the decision taken the day an inventory rhythm was chosen.
Module check: the experts' disagreement
Five questions to take right after the module. They cover the 151,000 euro gap, the letter sent at the wrong moment, and the threshold below which the procedure costs more than it returns.
Module check: the loss that strikes title
Five questions to take right after the module. They cover the 2024 restitution, the 180,000 euros paid in 2015, and the provenance gap the 1998 invoice mentioned.
Validation: insuring M&A transactions
Thirty-two questions crossing the modules of the cycle. They do not ask back what a module says, they ask what two modules produce together: a review scope settled six weeks earlier that writes an exclusion, a date of knowledge that empties a repetition, a one euro cap that answers nothing against a subrogated insurer, a disclosure standard imported from the sale agreement that decides cover, a tax clause that must be negotiated before anyone believes it useful, and a tower that is not one policy but as many contracts as it has layers. The answer key is public and nothing is proctored: this quiz measures what you understood, it delivers nothing.
Module check: what the policy replaces
Five questions to take right after the module. They cover the sentence that carries the whole product, the two opposite motives of seller and buyer, and the one euro liability that is not a symbol.
Module check: the perimeter and its three families
Five questions to take right after the module. They cover the three families of exclusions and what each dictates, the two independent grounds in the 9 million file, and the disclosure rule that loses the wrong battle.
Module check: unknown as of when, and unknown to whom
Five questions to take right after the module. They cover the three doors that open when a problem is found between signing and closing, the target's managers who stay, and the three steps that cost nothing.
Module check: the three defect wordings
Five questions to take right after the module. They cover the three wordings and the gap between the first and the third, the forty-six anchorages non-compliant but undamaged, and the definition of the insured read thirty pages earlier.
Module check: the revenue that never existed
Five questions to take right after the module. They cover the 45 vessel days that drop out before any calculation, a deductible counted in days, and the quiet condition that declines more files than all the caps combined.
Module check: one unpaid invoice, two policies
Five questions to take right after the module. They cover what decides between credit insurance and political risk, the three situations people conflate, and the single piece of evidence worth more than all the others.
Module check: the limits are the product
Five questions to take right after the module. They cover what an insured actually buys, the approval threshold and the side where losses surprise, the three clauses of a limit withdrawal, and what the co-insurance share aligns.
Module check: who proves what
Five questions to take right after the module. They cover what the insured does not have to prove, the two limbs the insurer must establish to invoke a defect, the shortest door, and the clause that loses more files than causation does.
Module check: the sum insured against the completed works
Five questions to take right after the module. They cover the division not to make, the three movements that widen the gap without carrying the word increase, and what else a frozen sum freezes.
Module check: the delay that is nobody's loss
Five questions to take right after the module. They cover the three families of delay, water in an empty excavation, where force majeure lives, and the one case where both protections fall away together.
Module check: the schedule of insureds
Five questions to take right after the module. They cover the three things the schedule decides, the fact that being an insured can reduce your own cover, and what a waiver of subrogation leaves intact.
Module check: what is disclosed and what is not
Five questions to take right after the module. They cover the three situations not to confuse, who decides an aggravation without knowing it, the retained loss that appears nowhere, and the only thing separating a premium from a sanction.
Module check: what is not yet on site
Five questions to take right after the module. They cover the day count running out on a port, the three limits on off-site storage that tighten at the wrong moment, and the paid loss that opens no day of delay.
Module check: turning a process into an event
Five questions to take right after the module. They cover the single day a policy demands of a loss that took eighteen months, the two questions that locate the tipping point, the timeline column people skip, and which date to adopt.
Module check: insuring a conclusion, not a fact
Five questions to take right after the module. They cover what the policy insures when everyone knows the facts, what is worth more than the limit, and what a commercial settlement can cost the insured.
Module check: the pending dispute
Five questions to take right after the module. They cover the third category, what the insurer actually buys, the disclosure that can cost the privilege protecting the defense, and the risk that is not a money risk.
Module check: the one protection a delay destroys
Five questions to take right after the module. They cover what a claims-made trigger changes, the date after which nothing is recoverable, the people with no seat at the table, and the section that is worthless after a sale.
Module check: a balance sheet effect before a risk transfer
Five questions to take right after the module. They cover the real cost of an escrow, what the buyer exchanges, the one euro cap with no retention, and the question that replaces the one about size.
Module check: what acceptance shifts
Five questions to take right after the module. They cover the three simultaneous effects of acceptance, the acceptance nobody signs, the section operated before the works end, and the useful question to ask of a maintenance period.
Module check: what a project-wide policy actually buys
Five questions to take right after the module. They cover what separate policies actually cost, the mechanics of the waiver, the off-site storage gap, and the deductible that falls back on whoever placed the policy.
Module check: who pays now, who pays in the end
Five questions to take right after the module. They cover what pre-financing separates, the severity that comes from the presumption rather than the duration, what the rule follows, and who counts as a constructor.
Module check: the value gathered at a single point
Five questions to take right after the module. They cover what a site does in reverse of property insurance, the figure that drives capacity and price, the two peaks that multiply, and the prevention lever.
Module check: the penalty and the indemnity
Five questions to take right after the module. They cover what makes a penalty uninsurable on both sides, the daily rate that is not a sum owed, the deduction bearing on what is due rather than collected, and the delay nobody carries.
Module check: what was already there
Five questions to take right after the module. They cover the three regimes an urban site brings together, the retained building caught between two contracts, the neighbor with no fault to prove, and the crack that can no longer be dated.
Module check: the prototype and the series
Five questions to take right after the module. They cover what the untested technology exclusion admits, the change of scale the clause does not settle, what decides the amount of a series defect, and preventive replacement.
Module check: the testing window
Five questions to take right after the module. They cover the two peaks on the same day, what gives way at first start-up, a counter in calendar days nobody tracks, and what a closed window carries away.
What a language model actually does
Predicting a word, hallucinating without flagging it, grounding on documents, specialising, acting on the world: nine questions on the mechanism itself, before arguing about its risks, and on what an insurer should be looking at.
Module check: tax as an instrument of taking
Five questions to take right after the module. They cover the best-protected sovereign power, the three words that make the exclusion arguable, the markers that accumulate, and the cash that leaves before any recourse.
Module check: valuing what can no longer be seen
Five questions to take right after the module. They cover the value required on the exact day access disappears, what an agreed value really costs, the lesser of two figures, and the correlation that makes everything worse.
Module check: the narrowest cover where it destroys
Five questions to take right after the module. They cover cover that narrows as severity grows, the attribution the insured cannot establish, deniable forces, and the clause that makes a communiqué conclusive.
Module check: what prevention actually moves
Five questions to take right after the module. They cover the gap between what prevention reduces and what underwriting fears, the two levers people resist, and the least-reread document in the file.
Module check: when the whole room is hit
Five questions to take right after the module. They cover a probable maximum loss that follows an assumption rather than a fact, suppression that swaps one peril for another, and a restoration capacity that is finite.
Module check: when the market is observable
Five questions to take right after the module. They cover an agreed value that keeps its force and loses its justification, depreciation that becomes easy, fungibility reopening settlement in kind, and an index that overstates a forced sale.
Module check: the order follows the place, the work does not
Five questions to take right after the module. They cover the question that comes before cover, an administrative trigger that writes a geography, a deductible that cannot be bought back, and the line that decides everything.
Module check: the schedule that drifts both ways
Five questions to take right after the module. They cover the three parameters people ignore when buying, two valuation regimes coexisting in one policy, a cap calibrated backwards, and the drift nobody handles.
Module check: a guarantee that is not a policy
Five questions to take right after the module. They cover what a public scheme is not, an exclusion written against double cover that produces no cover, the missing subrogation, and the three sentences the loan agreement leaves out.
Module check: a convention, not a finding
Five questions to take right after the module. They cover what market wordings say about themselves, the two opposite pathologies of over- and under-valuation, the asymmetry that inverts intuition, and what agreed value never buys.
Module check: the disclosure dilemma
Five questions to take right after the module. They cover two rules that do not speak to each other, the impossible choice between disclosing and staying silent, a recourse extinguished before it is useful, and the collection that never moves.
Module check: the three figures the first reflex does not compute
Five questions to take right after the module, on the 1.2 million sculpture. They cover two estimates with different optima for each party, a cap that makes the interests diverge, and the total-loss route nobody quantified.
Module check: the seam, and the event the contract chose
Five questions to take right after the module. Two of them were moved down from the certification quiz, where they bore on this module alone and therefore had no business being there. The other three cover what a difference in conditions policy does not fill, the three instants at which custody can switch, and the gap between a risk's duration and its exposure.
Module check: the date nobody compares with the other
Five questions to take right after the module. They cover an attachment date that is not a date but a combination of conditions, what is already digging the ground before the site opens, the installments paid to a manufacturer winding a transformer, and what a retroactive attachment date can and cannot recover.
Module check: the spend that exceeds the sum insured
Five questions to take right after the module. They cover a mandatory rule insureds almost never invoke, the boundary between shoring up and rebuilding when both happen in the same week with the same trucks, the direction of time that separates mitigation from acceleration, and the free step that satisfies two opposing obligations.
Module check: two one page documents, one folder, two effects
Five questions to take right after the module. They cover what a bond guarantees and who ends up paying, the on demand call that reverses the balance of power within days, the credit lines a heavily bonded contractor stops having, and the five percent an employer mistakes for general protection.
Module check: time does not cost the two parties the same
Five questions to take right after the module. They cover the absence of a general statutory deadline and what good faith requires anyway, the two levers that put a price on silence, the seventy percent settlement accepted in the eighth month, and an arbitration clause chosen by people who do not imagine being on the wrong side of the disagreement.
Module check: two routes to the same money, only one avoiding the lawsuit
Five questions to take right after the module. They cover the trigger that makes litigation a condition of payment, the balance sheet one structure frees and the risk it does not allocate better, the fraud carve out that is not negotiable, and the auction policy underwritten before the buyer's review has begun.
Module check: overpaying, or not owning
Five questions to take right after the module. They cover a difference in nature mistaken for a difference in size, the retention that disappears and why that is coherent, the only review that can be completed rather than sampled, and what a hundred percent limit does not deliver to an industrial buyer.
Module check: declining for the right reason
Five questions to take right after the module. They cover the few months and the letter that separate an arguable position from a debt, the line that does not run between the honest and the dishonest, what punishes and what repairs inside one file, and the difference between uninsurable and too expensive for what it is worth.
Module check: the floor is not set by appetite
Five questions to take right after the module. They cover a floor set by the cost of inputs rather than by insurer appetite, what occupies the ground below it, simplified policies sharing the commercial name of full ones, an advisory chain where nobody is dishonest and the outcome is constant, and the one case where a small deal fully justifies the product.
Module check: the boundary is not a matter of degree
Five questions to take right after the module. They cover what a policy excluding the foreseeable would exclude, the circle of people whose knowledge binds the insured, the summons received three weeks before inception and the country analysis that need not be disclosed, and the window between filing and inception.
Module check: one decree, two different losses
Five questions to take right after the module. They cover two measures of loss that diverge to the point of contradiction, a bank statement set against a chronology taking months, a waiting period compared with a repayment schedule that knows no waiting, and the order of signatures that decides who receives the indemnity.
Module check: certain spend against uncertain reimbursement
Five questions to take right after the module. They cover the asymmetry that produces paralysis rather than ignorance of the rule, what the insurer deducts instead of declining, prior consent where urgency makes it impossible, wages that are not mitigation costs, and a chronology that serves twice.
Module check: eight countries, one risk in eight versions
Five questions to take right after the module. They cover a misapplied analogy rather than ignorance of statistics, correlations measured in ordinary conditions that are worthless in the tail, regulatory capital that takes back the margin saved, an expected loss the group will never experience, and a three minute calculation few groups keep current.
Module check: ten points of cover do not compare to outstandings
Five questions to take right after the module. They cover what separates a coinsurance percentage from a deductible, what the retained share buys at three different moments, the arithmetic that misleads by an order of magnitude, a recovery sharing clause that can reverse the conclusion, and the one trade off in this line whose right counterpart is not the insurer.
Module check: notifying fast a claim that does not yet exist
Five questions to take right after the module. They cover two acts everyday language conflates, what a notice filed too early is worth, the most ordinary commercial gesture in the world taking a receivable outside cover, a calendar whose end date is not yet known, and the three date table that costs nothing to keep.
Module check: the most recent invoice is the uncovered one
Five questions to take right after the module. They cover a requirement that is arithmetical rather than moralizing, a conflict of interest that is not accidental, the cash advance nobody planned for, and the first thirty days switch that has to be a procedure and not a decision.
Module check: what is scarce is not trust
Five questions to take right after the module. They cover a refusal that is not information about the buyer, capacity consumed as amount multiplied by tenor, a queue that is an unpublished calendar, an approved but unused limit that is not free, and the three ways out when the door is genuinely shut.
Insuring a data centre
Nine questions on the building that hosts everything else. The Strasbourg fire of March 2021, Delta's failed changeover in Atlanta in 2016, the London heatwave of July 2022 and the mistyped command that stopped S3 for four hours in 2017: each shows where the cost actually sits, and why a high certification does not say what people think it does.
How an insurance market turns
Nine questions on how the market works rather than on contracts. Why price rises when capital is short, what the loss of the Titanic proved about syndication, why the first of January is the sector's barometer, and what changes when capital can leave the day before the loss.
Module check: the same bank statement, two opposite files
Five questions to take right after the module. They cover the verifiable fact separating will not pay from cannot transfer, a line in the sales contract that allocates currency risk with nobody intending it, a longer waiting period that creates a costly temptation, what becomes of the deposited sum while waiting, and rationing that is neither a refusal nor normal operation.
Module check: during a crisis, or because of one
Five questions to take right after the module. They cover two propositions that look alike and are not worth the same, the middle link nobody documents, two policies that can both decline without bad faith, what an other-insurance clause does not settle, and a limit withdrawal that is not a judgment on the buyer.
Module check: winning the right to litigate
Five questions to take right after the module. They cover two immunities a general waiver does not lift together, the narrowness of what remains attachable, what an arbitral award gains and where that gain stops, a recovery duty that consists in establishing the remedy is illusory, and the order of questions to invert before signing.
Module check: indemnified at ninety-five percent, and disappointed
Five questions to take right after the module. They cover two risks everything pushes to conflate, a one line clause weighing more than the cover rate, a correlation that runs the unfavorable way, a currency choice that moves a problem instead of removing it, and a hedge that outlives what it was hedging.
Validation quiz, underwriting cyber
Thirty-eight questions on the certification's objectives, and above all on what happens between its modules: the cover that sends people is the only one whose prompt use reduces the other three, an investigation report commissioned at eleven in the morning decides liability for years, a half recovery is not a recovery and the meter keeps running, defense costs eroding the limit turn time into indemnity cost, a ransom payment stays prohibited exactly where the cover responds, a notification clock starts at awareness while the investigation takes six weeks, one questionnaire word taken for another empties a backup of what it was meant to close, and a loss series measures the evolution of contracts as much as that of attacks. Unproctored quiz with a public answer key: it gates delivery at the certification's threshold, it does not prove knowledge under supervision.
The silence of policies, and how it ended
Six questions on a decade of drafting. A policy silent on cyber does not stop covering it, it leaves a court to decide, and the insurer then carries an exposure that sits in neither its premium nor its accumulations. Decile 10, the 2019 bulletin, the stand-alone policy, then the second silence CrowdStrike exposed in 2024.
Why cyber resists actuarial methods
Six questions on methods that work everywhere else. Stationarity declared dead in 2008 for hydrology and deader still for an adversarial threat, Bühlmann credibility when the sector reference is drifting too, correlation of zero day to day and close to one on 19 July 2024, and the hazard module of a catastrophe model with no equivalent for want of a physics of the attacker.
Cyber war, attribution and sanctions
Six questions on what is at stake when a state is behind the attack. The impacted state and the essential service of the London clauses, what a wording makes conditional on official attribution rather than the insurer's own judgement, the sanctions regime that bars a payment the policy would otherwise meet, and Operation Cronos.
Insuring a satellite
Nine questions on a line where the loss is instantaneous, survey impossible and recourse contracted away. Ariane 5 in 1996, Iridium 33 against Kosmos 2251 in 2009, Galaxy 15 adrift in 2010, the Boeing 702SP leaks and the November 2021 anti-satellite test.
The insurer and the transition
Nine questions on commitments meeting reality. The underwriting alliance emptied in three months of 2023 by an antitrust threat, the carbon credits a January 2023 investigation showed reduced nothing, the advertising complaint aimed at a London market, and the first coral reef policy, written in Mexico in 2018.
Who answers for damage caused by an AI
Nine questions on the liability chain Europe closed between 2024 and 2025. Software turned into a product, opacity turned back on the manufacturer, the development-risk defence eroding when a product is never finished, the split between whoever builds and whoever deploys, and what the 2025 withdrawal leaves victims with.
How a model fails, and what it costs
Nine questions on what breaks in an AI system, and on who pays. Goodfellow's panda turned gibbon in 2014, model inversion formalised by Fredrikson in 2015, the backdoor sleeping for months in a training set, human oversight hollowed out, and the single point of failure created by one model shared across a whole sector.
When the state insures what the market cannot
Nine questions on schemes born from a withdrawal. Pool Re after the 1993 City bombings, GAREAT and TRIA after 11 September 2001, the French CatNat regime of the 1982 act and its surcharge raised from 12 to 20 per cent in 2025, the 1968 American flood programme running a structural deficit, and the 181 billion dollar protection gap measured in 2024.
Reading an insurer's accounts
Nine questions on accounts unlike any other. The combined ratio and what it leaves out, the cash an insurer invests without owning it, and the standard in force since 2023 that stopped recognising profit at inception and spread it across the service period.
Insuring where the market is young
Nine questions on instruments invented where conventional insurance does not reach. The Turkish earthquake pool born of the 1999 quake and tested by those of 2023, Mexico's sovereign catastrophe bonds from the mid-2000s, the index that pays without adjusting and the basis risk it creates, and mobile money bypassing the absence of branches.
Module check: losing an indemnity with the debtor blameless
Five questions to take right after the module. They cover what forfeiture actually sanctions, the 600,000 euros shipped after the unpaid invoice in the worked case, the extension granted without consent that is sanctioned differently, and what protects when vigilance is not enough.
Module check: confirmation, and what it does not carry
Five questions to take right after the module. They cover what confirmation actually shifts, the forty kilograms in the worked case, a confirmation refused three months after being granted, and the dates that let the protection lapse with nobody deciding it.
Module check: the declaration that decides the extent of cover
Five questions to take right after the module. They cover the two ways of mis-declaring, the two claims in the worked case, the annual check that bears on names rather than amounts, and a good faith drop nothing distinguishes from a shift of perimeter.
Module check: who gets the money that comes in after the indemnity
Five questions to take right after the module. They cover the arithmetic of the liquidation dividend in the worked case, a high percentage cover worth less than a lower one, the 25,000 euros the exporter kept, and the way time always works on the same side.
Module check: a receivable does not die loudly
Five questions to take right after the module. They cover the three periods running in parallel, the law that fixes the one in the worked case, the October 2024 email the exporter did not use, and the schedule an invoice schedule does not replace.
Module check: the receivable moves, the policy does not always follow
Five questions to take right after the module. They cover the three questions wrongly given a single answer, the 2.8 million discounted in the worked case, and the decree that never reached the file.
Module check: the face amount is intact, the value has melted
Five questions to take right after the module. They cover the stretch-out signed alone that undoes the claim, the ten annuities of the worked case read in present value, and what was still negotiable.
Module check: the chain always breaks in the same place
Five questions to take right after the module. They cover three undertakings that are parallel and not nested, the fifteen day gap in the worked case, and what insurance does and does not do to this mechanism.
Module check: three functions no single product ever takes on at once
Five questions to take right after the module. They cover separating risk, recovery and financing, the eighteen day overrun in the worked case, and the balance sheet effect a single clause is enough to destroy.
Module check: a guarantee on money already spent
Five questions to take right after the module. They cover what makes this guarantee more dangerous than the others, the certificate the buyer alone issued in the worked case, and two mechanisms pulling in opposite directions on the same day.
Module check: cover for this year, a hope for the ones after
Five questions to take right after the module. They cover the correlation that makes annual cover dangerous, three market products with similar wording, and the 310 million of the worked case where the emergency was not the insurance.
Module check: what was insured is a share, not a cement plant
Five questions to take right after the module. They cover the insurer's argument that deserves to be taken seriously, three drafting families that do not measure the same thing, and the 2019 Cyprus holding nobody told the insurance department about.
Module check: cover stops at the hour of signing
Five questions to take right after the module. They cover the gap whose date is known in advance, two operations that look alike and give opposite results, and the reasonable cooperation clause that recovers nothing.
Module check: the danger comes from the other side
Five questions to take right after the module. They cover an insurer that is prevented rather than unwilling, the chronology that decides everything in the worked case, and the general counsel's proposal that must be refused.
Module check: the first number to write down is neither of the two
Five questions to take right after the module. They cover probable maximum loss against the sum of limits, the criterion that actually decides, and the three obligations without which not insuring is not a decision.
Module check: saying no, and saying when protection was still possible
Five questions to take right after the module. They cover the four features that hold together, the six foreign licence holders of the worked case, and the stability clause nobody asked for in 2018.
Module check: the asset returned is not the one that was taken
Five questions to take right after the module. They cover double recovery, the 102 million claimed in the worked case of which one item is not repayable, and the right not to take the asset back.
Module check: nothing is refused, so nothing can be appealed
Five questions to take right after the module. They cover the waiting period that makes cover indifferent to state silence, the file declared incomplete that resets the clock, and the June 30 that cannot be recovered.
Module check: notifying on day one of a deprivation announced for six months
Five questions to take right after the module. They cover the two features the state puts forward, the warehouse returned empty in 2026 in the worked case, and the compensation commission that was never set up.
Module check: looking for hostile intent costs months
Five questions to take right after the module. They cover the wall of good faith regulation, the two routes across it, and the same-day order giving five years to the public group.
Module check: the price gap is not greed, it is a measurement
Five questions to take right after the module. They cover what each structure buys, the forty European customers of the worked case thought to be pointless, and the three questions that decide before any quote.
Module check: a sole distributor is not a customer, it is a chokepoint
Five questions to take right after the module. They cover the limit that becomes the country's own, the reorders down thirty percent in the worked case, and the loss no credit policy reimburses.
Module check: the last link in every chain of reasoning
Five questions to take right after the module. They cover a correlation that always works against the insured, the indicator falling from 178 to 131 in the worked case, and the only route that builds something.
Module check: what was said only to the broker was not said to the insurer
Five questions to take right after the module. They cover the mandate that governs everything else, the three restricted countries of the worked case, and what is not a broker's fault.
Module check: the most valuable ask is none of the three on the table
Five questions to take right after the module. They cover sorting portfolio decisions from judgments about the insured, the 4.3 million already ordered in the worked case, and a threat to leave that backfires.