Online course: Reinsurance Overview

LOMA 29 Iulie 2019

Trainer: N/A

Detalii

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.

Participants in this module will be allocated 1 credit point related to continuous professional training for insurance distributors according to the ASF Norm no.20 / 2018.

The course can only be completed once in the continuous professional training program.

Grup țintă

Employees of companies from the insurance and financial services industry.

Obiectivele cursului

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