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Reinsurance – Introduction

Level:Introduction Duration:1 Day CII CPD Hours:6

This interactive reinsurance training workshop teaches a basic understanding of reinsurance for non-practitioners.

The ideal first step for anyone starting out in the world of reinsurance – or simply wanting to understand more about it – this is the ideal starting point for reinsurance training.

  • After attending this workshop, delegates will be able to:
    • 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 non proportional 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 includes:
    • 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 account

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