Understanding the Reinsurance Industry Course

Through this training programme you can enhance your knowledge of how reinsurance works, and how your role impacts the business, for those new to, unfamiliar with or have lost touch with aspects of the industry

Introduction

In a nutshell, reinsurance is best thought of as “insurance for insurance companies, a way for a primary insurer to protect against unforeseen or extraordinary losses. It serves to limit liability on specific risks, to increase individual insurers' capacity and to share liability when losses overwhelm the primary insurer's resources. It also helps insurers stabilize their business in the face of the wide swings in profit and loss margins inherent in the insurance business.

However, the industry is much more complex than one statement, professionals working within the industry are tending to specialise in one area and lose touch with the trends and challenges faced by this global business. Whether you are new to the industry or need to get back in touch with the dynamics of the industry, then this programme is for you.

Objective

The experienced trainers will demystify all aspects of the industry that participants might be new to, unfamiliar with or have lost touch with.

Topics covered include:

Part 1: The building blocks understand the need for reinsurance and its relevance to your role

Part 2: The reinsurance market: get-to-grips with the role of the reinsurance market and how it works

Part 3: Legal and regulatory framework: build your knowledge of how the industry is controlled and regulated

Part 4: Practical applications: Demystify the terminology and activities that are specific to the insurance industry

Who is this programme for?

• Reinsurance company employees
• Reinsurance broker company employees
• Insurance company professionals
• Lawyers in private practice
• Regulators
• Those who have recently joined the reinsurance industry
• Suppliers to the industry including software, recruitment and accountancy

Programme at a glance...

• Introduction to the seminar
• Types of reinsurance: facultative and treaty
• Types of reinsurance treaties
• Functions of reinsurance treaties

Part I: The Building Blocks

• What is reinsurance? Its purposes and functions
• Practical Workshop
• Facultative reinsurance

Part Ii: The Reinsurance Market

• The reinsurance international market
• The reinsurance markets and the role of Lloyds
• Run-off and commutations
• Reinsurance brokerage and the role of the broker

Part Iii: Legal and Regulatory Framework

• The law of reinsurance: Introduction
• The regulation of reinsurance

Part Iv: Practical Applications

• Reinsurance agreements

Part Iv: Practical Applications

• Reinsurance claims management
• Elements of claims reserving
• Underwriting and the role of the underwriters
• Dealing with reinsurance disputes