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33 - INS - Insurance

INS 125 - Fundamentals of Reinsurance

Code Start Date Duration Venue
INS 125 05 September 2022 5 Days Istanbul Registration Form Link
INS 125 31 October 2022 5 Days Istanbul Registration Form Link
INS 125 26 December 2022 5 Days Istanbul Registration Form Link
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Course Description

This  course gives  basic Terms and definitions about reinsurance as well as understanding the functions of reinsurance. This course provides an understanding  how reinsurance helps mitigate insurance company risk and find an answer for What is the right amount of risk transfer? It provides recognition of  the features of life and non-life reinsurance. It gives knowledge about structure of reinsurance such as treaty and facultative. It provides practical understanding of:reinsurance types such as proportional reinsurance, non-proportional reinsurance It provides an understanding about obligations of reinsureds & reinsurers. It gives broad idea about Reinsurance Arbitration Process. It gives samples from reinsurance claims. 

Course Objectives

  • Defining terminology of reinsurance 
  • Understanding functions of reinsurance and risk mitigation 
  • Understanding defining right retention  
  • Defining features of life and non life reinsurance 
  • Decsribing the difference of treaty and facultative 
  • Understanding the obligations of reinsureds and reinsurers 
  • Understanding the Reinsurance Arbitration Process
  • Defining reinsurance types 
  • Understanding reinsurance claims 

Who Should Attend?

  • Insurance Professionals
  • Reinsurance Professionals 
  • Actuaries 
  • Brokers 
  • Agents 
  • Internal Auditors 
  • Risk Managers 
  • Internal Control Officers 
  • Financial & Accounting Professionals

Course Details/Schedule

Day 1

  • Defining terminology of reinsurance 
  • Understanding the functions of reinsurance
  • Understanding role of reinsurance 
  • Understanding risk mitigation 
  • Describing right retention 

Day 2

  • The features of life and non-life reinsurance
  • Risks that are covered by Life Insurance 
  • The main products of life insurance 
  • The risks that are covered by non-life insurance 
  • The main products of non-life insurance includes 

Day 3

  • Types of reinsurance arrangements 
  • Forms of reinsurance 
  • Pricing of reinsurance 
  • Reinsurance programs 

Day 4

  • Reinsureds’ Obligations 
  • Full and Fair Underwriting Information
  • Timely Notice 
  • Access to Records 
  • Reinsurers’ Obligations
  • Timely Payment of Properly Presented Claims

Day 5

  • Reinsurance Arbitration Process
  • Arbitration vs. Litigation 
  • Commencing a Reinsurance Arbitration 
  • Arbitrator Selection
  • Reinsurance Claims Management