Online course: Reinsurance Overview

Details

This LOMA course provides an introduction to the fundamentals of reinsurance activities in the insurance industry. Key topics discussed in this course include (a) the advantages and disadvantages associated with using reinsurance; (b) the parties to a reinsurance contract; (c) the risk transfer process among direct writers, reinsurers, and retrocessionaires; (d) the distinguishing characteristics of automatic, facultative, and facultative-obligatory (fac-ob) reinsurance; and (e) the differences between non-proportional and proportional reinsurance.

This course offers a high-level view of the features of reinsurance; it is a perfect introduction to new employees to companies that use reinsurance agreements, as well as for employees new to jobs that involve reinsurance transactions, administration or marketing.

Language: English

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

Target group

Employees of companies from the insurance and financial services industry.

Course objectives

• Identify (1) the parties to a reinsurance contract, (2) the differences between assumption and indemnity reinsurance, and (3) the differences between finite and traditional indemnity reinsurance
• Describe the risk transfer process among direct writers, reinsurers, and retrocessionaires and explain some basic terms associated with reinsurance
• Distinguish among automatic, facultative, and facultative-obligatory (fac-ob) reinsurance and between non-proportional and proportional reinsurance
• Explain several advantages and disadvantages of reinsurance

Duration / Period

1 hour

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.