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
Ø Various mechanisms and
methodologies of reinsurance
Ø Principles and practices
of reinsurance accounting
Ø International market
scenario and its impact on the RI programme
Contents
Ø Introduction
& Fundamentals of Reinsurance - Proportional; Non Proportional; Facultative
Reinsurance
Ø Understanding
of concepts – Retrocession, Admitted / Non Admitted countries, fronting,
overriding commission, DIC / DIL
Ø Importance
of PML in RI placement & Calculation of U/W capacity as per GIC norms
Ø Brief
introduction to reinsurance underwriting
Ø Calculation
of Facultative requirements in Large risks
Ø Placement of
risk at Differential terms / Funding of risk
Ø Placement
under proportional & non-proportional treaty
Ø Legal
wordings and clauses in reinsurance contracts
Ø Basic
accounting of RI placement under proportional and non-proportional treaty &
recoveries of claim
Ø Treaty
terms, rules for mid-term cancellation, operational working with payment of
premium & recovery of claims on day to day basis, importance of Bordereau
Ø Working out
premium adequacy under non-proportional treaty
Ø Layering of
reinsurance under non-proportional treaty & premium allocation for Excess
layers
Ø Global
Programmes - Introduction & Understanding the concepts, Methodology, &
working of Programme in India
Ø Brief
introduction to international reinsurance markets
Ø Alternatives
to Reinsurance - alternative markets, pools, etc.
Ø 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
I.
05.06.2023-07.06.2023
II.
12.02.2024-14.02.2024