Course

Course Summary
Credit Type:
Course
ACE ID:
AICP-0104
Organization's ID:
ARe 321
Organization:
American Institute For Chartered Property Casualty Underwriters/The Institutes
Location:
Online
Length:
21 hours (8 weeks)
Dates Offered:
Credit Recommendation & Competencies
Level Credits (SH) Subject
Upper-Division Baccalaureate 3 Principles of Reinsurance
Description

Objective:

Upon the successful completion of this course, students will be able to gain a thorough understanding of property and liability insurance written in the surplus lines market so they can help clients fill critical coverage gaps. Gain a solid understanding of coverage options in specialty areas such as marine, aviation, environmental and cyber loss, and learn how to recommend solutions for managing hard-to-place risks.

Learning Outcomes:

  • Students will learn about reinsurance in action, innovation in reinsurance, and how reinsurers are regulated.
  • Students will review how insurers use quota share reinsurance, how it works, and how it is priced.
  • Students will learns how insurers use surplus share reinsurance, how it works, and how it is priced.
  • Students will learn how insurers use property per risk excess of loss reinsurance, how it works, and how it is priced.
  • Students will learn how insurers use casualty excess of loss reinsurance, how it works, and how it is priced.
  • Students will learn how insurers use catastrophe excess of loss reinsurance, how it works, and how it is priced.
  • Students will learn how insurers use Aggregate excess of loss reinsurance, how it works, and how it is priced.
  • Students will look at how insurers and reinsurers create reinsurance programs, how insurers determine their reinsurance needs, how insurers select reinsurance retentions and limits, and the importance of reinsurance audits and loss reserves.

General Topics:

  • Create effective reinsurance programs. This is accomplished through an in-depth examination of the various types of treaty and facultative reinsurance transactions and common clauses used in reinsurance agreements
  • This course also includes a discussion
  • The methods that primary insurers and reinsurers use to estimate reserves
Instruction & Assessment

Instructional Strategies:

  • Case Studies
  • Practical Exercises

Methods of Assessment:

  • Examinations

Minimum Passing Score:

70%
Supplemental Materials