PUNE
P561 - REINSURANCE MANAGEMENT (NON-LIFE)
Background:
The
need for reinsurance for enhancing the capacity and stability of insurance
companies is adequately realized by all insurance managers. The
programme is intended as re-orientation to the broad principles of reinsurance,
its functions, its role in enabling insurance companies to assume risks, make
use of various techniques of reinsurance, principles governing placement and
acceptance of reinsurance covers, drawing up of different types of reinsurance
programmes and also reinsurance accounting and settlement procedures, practice
of reinsurance in international markets, financial implications of reinsurance
on ultimate underwriting results The whole gambit of RI programme
designing with hands on or discussion of the practical difficulties and
solutions and its contribution to augmentation of financial reserves / strengths
of direct insurers in view of the emerging trend.
Objectives:
The programme aims to acquaint participants with:
§
Various mechanisms and methodologies of reinsurance
§
Principles and practices of reinsurance accounting
§ International market scenario and its impact on the RI programme
Contents:
§
Introduction & Fundamentals of Reinsurance - Proportional;
Non-Proportional; Facultative Reinsurance
§
Understanding of concepts – Retrocession, Admitted /
Non-Admitted countries, fronting, overriding commission, DIC / DIL
§
Importance of PML in RI placement & Calculation of U/W
capacity as per GIC norms
§
Brief introduction to reinsurance underwriting
§
Calculation of Facultative requirements in large risks
§
Placement of risk at Differential terms / Funding of risk
§
Placement under proportional & non-proportional treaty
§
Legal wordings and clauses in reinsurance contracts
§
Basic accounting of RI placement under proportional and
non-proportional treaty & recoveries of claim
§
Treaty terms, rules for mid-term cancellation, operational working
with payment of premium & recovery of claims on day-to-day basis, importance
of Bordereau
§
Working out premium adequacy under non-proportional treaty
§
Layering of reinsurance under non-proportional treaty &
premium allocation for Excess layers
§
Global Programmes - Introduction & Understanding the concepts,
Methodology, & working of Programme in India
§
Brief introduction to international reinsurance markets
§
Alternatives to Reinsurance - alternative markets, pools, etc.
§
Role of Intermediaries in Reinsurance market
Participants’ Profile:
Officials from
Reinsurance department, technical department of Head Office, Regional Offices,
Operating Offices of Indian and foreign public & private sector General
Insurance Companies
Duration: 3 days
Dates:
02.12.2024 - 04.12.2024