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Reinsurance Foundation Programme
This programme is aimed at anyone currently involved, or expected to be involved, in reinsurance, including underwriting assistants, claims staff and junior actuaries. The programme will be suitable for people in the early stages of their career with no more than two years’ experience of handling reinsurance placements.
Programme: Six half-day modules
Location: LMA Presentation Room, Gallery 4, Lloyd’s, London EC3M 7DQ
Fee: £1,500 + VAT
Download the programme brochure for more information
Reinsurance plays a major role in reducing an insurer’s exposure to losses, assisting with capital management and protecting solvency. A significant amount of reinsurance is placed within the Lloyd’s and London market.
The purpose of this programme is to introduce delegates to the different types of reinsurance available so that they gain an understanding of its purpose and how it works.
Delegates will participate in group exercises and interactive scenarios, designed to bring the subject matter to life.
KEY LEARNING OBJECTIVES
By attending the programme, delegates will be able to:
- explain the purpose of reinsurance and have knowledge of the main types of reinsurance available and know the contractual position of the parties involved in reinsurance contracts
- summarise the considerations made by reinsurance buyers when selecting suitable reinsurance protection for various lines/classes of insurance cover and appreciate the issues involved in setting retention levels
- describe the main elements of reinsurance contract terms and some of the more common clauses used by reinsurance providers and understand the various problems which can be caused by unclear and or ambiguities in contract wordings
- explain how reinsurance protection is placed in the London market and have knowledge of the underwriting information required by a reinsurance underwriter.
The modular programme will include the following topics:
- the parties involved in reinsurance
- the reinsurance process, including retrocession
- the alternatives to reinsurance
- what is facultative reinsurance?
- reinsurance premiums and payment of premiums
- claims reserving
- what legal rights do reinsurers have?
- the features of operational aspects of non-proportional reinsurance treaties
- the future of reinsurance.
The programme is run by Linda Prewett of Linda Prewett Limited, who has over 30 years of experience working within the insurance industry. This is in collaboration with Charlotte Warr of Sarnia Training and Andrew Shutte of Keoghs LLP.
Delegates participating in the programme can claim up to 22 CPD hours.