Fundamentals of P&C Insurance - Losses

Submitted by Administrator on Tue, 12/20/2011 - 3:40pm

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Course Title: Fundamentals of P&C Insurance - Losses

Description: Course defines key terms and concepts related to the claim cycle of a Property and Casualty insurer.

Topic: Accounting for the Losses of P&C Insurance Companies

Level: Basic

CPE Credits: 2.0 hours

Prerequisites: None

NASBA publication/revision date: November 2011

Learning Objectives:

Upon successful completion of Fundamentals of P&C Insurance - Losses, the learner should be able to:

  • Understand the events that occur in the life cycle of a claim
  • Understand the terminology used in the accounting and administration of claims
  • To be able to identify the different types of loss reserve categories
  • Understand different methods to measure and report losses incurred
  • Define subsets of loss adjustment expenses

Outline:

  • Loss Events
    • Incurred Losses
    • Reported Losses
    • Paid Losses
    • Loss Adjustment Process
    • Recoveries
      • Reinsurance
      • Salvage & Subrogation
  • Loss Reserve Categories
    • Case Reserves
    • IBNR
    • Bulk Reserves
  • Other Loss Reserve Concepts
    • Accrual of Salvage & Subrogation
    • Reserve Discounting
    • Claims-Made Policies
  • Measuring Losses Incurred
    • Accident Year
    • Calendar Year
  • Loss Adjustment Expenses
    • Defense & Cost Containment (DCC) versus Adjusting & Other (AO)
    • Allocated (ALAE) versus Unallocated (ULAE)

DateTimeCost
$200 (first attendee)
$180 (each additional attendee)		Registration is closed.
(Registration closes 2 hours prior to the starting time.)

Note: All times are US Eastern. What time is it now?.


System Requirements:
  • Windows 95 or Higher
  • Internet Explorer 5.0 or Higher
  • 800 x 600 or higher screen resolution
  • Macromedia Flash Player 5 or Higher
  • Acrobat Reader