Reinsurance 1: The Fundamentals

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What You Will Learn:

Participants will acquire an understanding of five traditional forms of P&C reinsurance including their characteristics, functions, advantages, disadvantages and key contract wording considerations. The financial impact of reinsurance will be illustrated through case study examples that review reinsurance accounting. The course concludes with a review of the statutory reinsurance balance sheet accounts, their relationship to Schedule F - Parts 1 and 3 and a detailed look at the statutory calculation of the provision for reinsurance.

Seminar Content:

• Introduction to reinsurance
• Standard forms of reinsurance
  • Quota share
  • Surplus share
  • Excess of loss
  • Catastrophe
  • Stop loss
• Basic reinsurance accounting
  • Introduction to risk transfer
  • Reinsurance journal entries
  • Financial statement presentation
• Regulatory reporting of reinsurance
• Preparation of Schedule F

Field of Study: Accounting

Who Should Attend:

Anyone who desires an understanding of the uses and financial effects of reinsurance will benefit from this seminar.

Prerequisites:

No advance preparation or prerequisite is required for this basic level seminar. However, experience in P&C insurance accounting and reporting will be useful. The Reinsurance 2 seminar, conveniently scheduled to follow this seminar, is designed to complement the Reinsurance 1 seminar by addressing more advanced topics.

Class Times:

Class begins at 8:30 a.m. and ends at 5:00 p.m. on the first day and at 3:00 p.m. on the second day.

Estimated CPE Credit: 14.0 hours

Tuition: $1495

Note(s):

The combined tuition if both the Reinsurance 1: Fundamentals and the Reinsurance 2: Beyond the Fundamentals seminars are taken together is $2,490, a $400 savings.

Upcoming seminar dates and locations:

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