Introduction to Reinsurance (Full Day)

Description

This one-day course aims to equip participants with a solid understanding of reinsurance fundamentals, providing essential insights into its diverse mechanisms and operational frameworks. Participants will emerge with a clearer comprehension of the key concepts essential in the field of reinsurance.

What you will learn

Who should attend?

This course has been designed for anyone with an interest in knowing more about reinsurance and for people with less than three years’ experience of reinsurance.

Course Objectives

By the end of this course, you will be able to:

• Understand the significance of reinsurance in risk management and financial stability within the insurance industry.
• Recognise the diverse entities involved in reinsurance transactions and grasp their motivations for engaging in reinsurance agreements.
• Familiarise yourself with the essential terminology used in reinsurance operations to enhance communication and understanding.
• Differentiate Between Facultative and Treaty Reinsurance:
• Gain an understanding of how facultative reinsurance functions and its role in the insurance landscape.
• Investigate the operational mechanisms of Reinsurance Pools and their significance in risk distribution.
• Differentiate between Quota Share, Surplus Lines, Proportional, and Non-Proportional treaties, understanding their distinct purposes and structures.
• Examine Excess of Loss and Stop Loss Treaties:
• Explore the functions and operational aspects of Excess of Loss and Stop Loss Treaties, and their contributions to risk management strategies.

Course Content

• The Purpose and Significance of Reinsurance:
• Explore the rationale behind reinsurance, understanding its pivotal role in risk management and financial stability.
• Stakeholders in Reinsurance:
• Identify the various entities involved in purchasing reinsurance and their motivations behind this strategic financial decision.
• Reinsurance Terminology Demystified:
• Familiarize yourself with the essential terminology used within the realm of reinsurance, ensuring clarity and comprehension.
• Facultative vs. Treaty Reinsurance:
• Distinguish between the distinct functionalities of facultative and treaty reinsurance, comprehending their operational variances.
• Facultative Reinsurance Operations:
• Uncover the purpose and mechanics of facultative reinsurance, understanding its role within the broader insurance landscape.
• Insight into Reinsurance Pools:
• Explore the functioning of Reinsurance Pools, discerning their operational frameworks and significance.
• Understanding Various Treaty Types:
• Differentiate and analyse Quota Share, Surplus Lines, Proportional, and Non-Proportional treaties, grasping their specific functions and applications.
• Exploring Excess of Loss and Stop Loss Treaties:
• Gain insights into the functions and mechanisms of Excess of Loss and Stop Loss Treaties, comprehending their roles in risk mitigation strategies.