Online course: Reinsurance Basics

Details

The LOMA course identifies the main types of reinsurance, explaining why insurers use reinsurance and how reinsurance affects the insurance industry. Additional topics of discussion include: (a) the relationships between the parties to a reinsurance arrangement: (b) how insurers and reinsurers use proportional and non-proportional reinsurance to divide risk; (c) various arrangements insurers and reinsurers use for accepting and rejecting risk and limits applied to reinsurance relationships; and (d) basic characteristics of the reinsurance treaty.

While this course addresses the information and transactional needs of those directly involved in reinsurance relationships and agreements, it is vital information for any employee whose company engages in reinsuring segments of its business – particularly those involved in underwriting, new business processing, legal, and claims operations.

Language: English

The course is online can be accessed both from computer and mobile devices.

Target group

Employees of companies from the insurance and financial services industry.

Course objectives

• Identify the main types of reinsurance and the reasons insurers use reinsurance
• Describe the relationships among direct writers, reinsurers, and retrocessionaires
• Discuss the various arrangements insurers and reinsurers use for accepting and rejecting risk and how proportional and non-proportional reinsurance divide that risk
• Describe the various limits that are applied to reinsurance relationships and the basic characteristics of the reinsurance agreement
• Explain the three main arrangements for reinsurance administration and describe the four basic reinsurance administration activities
• Describe the purpose of retention limits and the types of retention limits insurers establish
• Identify and describe three types of proportional reinsurance plans—coinsurance, funds withheld coinsurance, and modified coinsurance
• Describe how reinsurance is marketed and explain the typical steps in negotiating a reinsurance agreement
• Discuss how reinsurance is regulated through reinsurer licensing and rules concerning financial condition
• Explain how the parties to a reinsurance agreement typically conduct reinsurance audits, resolve disagreements, and handle insolvency

Duration / Period

3,5 hours

The displayed period is indicative, being online the course is available at any time.

The course can be completed within 6 months of enrollment.

Investment

The necessary investement for this course is of 60 USD+VAT/participant.

The participation fee may be subject to changes based on LOMA policy.