Reinsurance management
Course description
This course will explore the basic characteristics, practices and procedures for the reinsurance transactions in a ceding/reinsurance company. The course will develop basic analytical skills that are vital in determining the interrelationship of reinsurance accounts for a better understanding and reporting of reinsurance results. Covers the need for and purpose of reinsurance, how to comply with requirements, the process of placement, how to process facultative and treaty claims and how to calculate the costs of recovery – including reinstatements of reinsurance claims
Course objectives
- To explain the importance and needs for reinsurance protection
- To understand the principles underlying the reinsurance business
- To appreciate the role of reinsurance in the insurance industry
- To understand the different approaches to reinsurance
- To understand the intent and implications of a company and reinsurer perspectives when ceding coverage
- To understand the underwriting activities, process, management and the regulation of underwriting of reinsurance business
Learning Outcomes
Upon completion of the program, participants should be able:
- To explain the need for and purpose of reinsurance
- To identify and describe the different methods of reinsurance
- To comply with the reinsurance requirements of an insurer
- To explain the process of reinsurance placement
- To outline how to process facultative and treaty reinsurance claims
- To demonstrate how to calculate the recovery, including reinstatements, of reinsurance claims.