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1 Little Allercleugh,
Wearhead,
Bishop Auckland,
Co. Durham,
DL13 1PU.

Phone Number :: 01388 537755
Fax Number :: 01388 537733
info@reinsurance.me.uk

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1.3 Intermediate / Advanced Non-Marine Reinsurance

A two day course providing a comprehensive discussion of reinsurance principles and practice. It will discuss and analyse the technical and legal principles involved, and illustrate their practical application through simple worked exercises and the design and operation of an illustrative reinsurance programme.

Content
Reinsurance: Definition; types and methods; functions and purpose
Origins and history; legal basis
Regulation of reinsurance: FSA; EU Reinsurance Directive
Proportional (quota share; first & second surpluses; fac-oblig): structure and operation. "Balance" of a treaty
Basic proportional accounting: basis(earned: written; underwriting year: year of account); profit commission & sliding scale commission; reserves and portfolios; claims
Excess of loss per risk covers: structure and operation, risk definitions, event limits, introduction to rating methods (burning-cost and exposure basis), comparison (advantages & disadvantages) with surplus treaty
Excess of loss event/catastrophe covers: working and upper layers; introduction to rating methods; effect of layering on premium cost; reinstatements; problems of definition - key clauses (occurrence, hours clause, etc.); ultimate nett loss; claims
Stop loss and aggregate x/l - operation, uses
Comparison and differences between proportional and excess of loss - advantages and disadvantages
Designing a simple reinsurance programme: choice of facultative, proportional treaty, excess of loss; setting the deductible; application to large/complex claims

Learning Outcomes
On completion of the course delegates will understand the function, principles and practice of reinsurance, the basic methods and approaches to rating excess of loss business, their different uses and advantages and disadvantages of different types and methods of reinsurance and the principles of constructing a simple reinsurance programme and its application to claims recoveries.

Intended Audience
The course will be appropriate for those with a basic knowledge of reinsurance, or who have completed the introductory course(s), and are seeking a more extensive understanding of the principles and practice.

Format
An interactive presentation including lecture and worked exercises on both proportional and excess of loss reinsurance and group/syndicate work on designing a simple reinsurance programme.

Duration
Two days.

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