1. Reinsurance Auditing
   Description
   The long tail of reinsurance contracts requires that the results of agreements be monitored well after the term expires. This process of understanding reinsurance contracts and the ability to organize and implement an inspection of records, as well as provide an effective report on these activities, is an important aspect of Property/Casualty operations. This course provides students with the basic knowledge required in reinsurance auditing.
   Course Objectives:
   • Understand the key control points in the reinsurance cycle
   • Enable participants to translate reinsurance contracts into accounting and reporting requirements
   • Learn how to translate contact requirements into audit programs
   • Learn how to create effective pre-audit overviews and work plans
   • Impart the ability to organize, implement, and report the results of reinsurance inspection of records project
   
   Course Agenda:
   1. The Reinsurance Control Process
   2. Types of Reinsurance Audits
   3. The Overview Documents and Audit Plan
   4. Conducting the Audit Engagement
   5. Preparing the Audit Report
   6. Post-Inspection Activity
   7. Miscellaneous, Special Topics, Problem Areas

2. Reinsurance Accounting (A Three-Day Program)
   Description
   Basic accounts, adjustments, portfolio activity, aggregates and unusual covers are topics covered in this program. Illustrations are drawn from actual contracts; the participant is exposed to the complete range of accounting transactions.
   Course Objectives:
   • Increase the participant's understanding of reinsurance contract interpretation
   • Enable participant to perform accounting requirements for each unique reinsurance agreement; including adjustments, unusual features, special areas
   • Develop participant's ability to read and understand the accounting implications of reinsurance contracts
   • Provide a reference for all forms of reinsurance accounting transactions
   
   Course Agenda:
   1. Reinsurance Overview
   2. Basic Accounting for Reinsurance Treaties
   3. Adjusting Features
   4. Miscellaneous Topics and Special Covers

3. Property/Casualty Reinsurance (A Three Day Program)
   Description
   Reinsurance is a vital element of the operations of an insurer, as well as a specific industry. This course provides participants with an understanding of why reinsurance exists, what it entails and how it is used; as well as the capability to analyze reinsurance contracts and their impacts on the financial structure and operations of primary insurance companies. The course offers insights into current insurance company and capital market risk financing strategies, and regulatory developments for property/casualty companies.
   Course Objectives:
   • Explain the use of reinsurance and the various types of agreements
   • Enable participants to understand reinsurance company operations and strategies
   • Illustrate emerging securitization of risk contracts and alternative market development
   • Demonstrate the financial impact of reinsurance
   • Explain and contrast Property/Casualty reinsurance markets products
   
   Course Agenda:
   1. Property/Casualty
      1. The Concept of Risk and Insurance
      2. The Concept of Reinsurance
      3. Facultative Reinsurance
      4. Treaty Reinsurance
   2. Property/Casualty Specific
      1. Proportional Treaty Reinsurance
      2. Non-Proportional Treaty Reinsurance
      3. Alternative Market Mechanism Overview

<< Back to Program Information