Reinsurance - Introduction - Searchlight Insurance Training

Reinsurance – Introduction

This interactive workshop provides a basic understanding of reinsurance for nonpractitioners and provides an essential first step for anyone embarking on a course of study in greater depth.

 

Level: Introduction

Duration: 1 day(s) CII CPD Hours: 6
     

WORKSHOP OBJECTIVES

• Understand the need for reinsurance and its use by insurers

• Understand the reinsurance market

• Demonstrate the difference between proportional and non-proportional reinsurance

• Describe the characteristics of facultative, treaty and contract methods of reinsurance

• Describe the various types of reinsurance proportional and nonproportional contracts and the key clauses therein

• Describe the legal principles of reinsurance and the importance of information about the original risk to the underwriter

WORKSHOP CONTENT

Definition of reinsurance, inwards and outwards reinsurance, retrocession

Proportional vs non-proportional

Methods of reinsurance
•Facultative
•Treaty
•Contract

Types of reinsurance
•Quota Share
•Surplus
•Facultative Obligatory
•Risk/Catastrophe
•Aggregate Excess of Loss
•Stop Loss

Accounting concepts
•Underwriting periods
•Year of account
•Losses occurring
•Policies attaching
•Portfolio transfers

Reinsurance programmes
• Retentions and protecting the net accoun