Employees of companies from the insurance and financial services industry.
- Identify the roles that insurance companies take in a reinsurance transaction and arrangements in which reinsurers combine forces, including reciprocal arrangements and reinsurance pools.
- Understand the model laws, regulations, and licensing requirements affecting reinsurance in the United States, as well as the regulatory requirements related to reserve credit and risk transfer, privacy, money laundering, and corporate governance in reinsurance transactions.
- Compare and contrast the automatic, facultative, and facultative-obligatory methods of transferring reinsurance risk.
- Describe the general characteristics of a reinsurance treaty and explain the provisions that define the scope of the agreement, including the parties to the agreement provision, the entire agreement provision, the duration of the agreement provision, and the recapture provision.
- Discuss the administration of changes that can affect reinsurance coverage, including recapture of ceded risk, increasing death benefits, continuation of reinsured policies, conversion of reinsured policies, and reinstatement of reinsured policies.
- Explain the role that departments such as marketing, actuarial, underwriting, law and compliance, accounting, auditing, and claims play in the insurer’s reinsurance business.
- Understand the steps a reinsurer takes to examine, approve, and settle a claim submitted under a reinsured policy.
The participation fee may be subject to changes based on LOMA policy.
Investiția necesară pentru a participa la acest curs include
- accesul pentru o perioada de 6 luni la platforma de elearning si sustinerea unui test de evaluare
ARA 440 shows how reinsurance strengthens the insurance industry and increases the likelihood that insurance companies will have sufficient funds to pay anticipated claims. This course also discusses reinsurance principles, regulation of reinsurance, typical provisions in a reinsurance agreement, the administration of reinsurance business, and the importance of quality control for reinsurance.
All LOMA courses have been reviewed and updated as appropriate to reflect the DOL Fiduciary Rule.
This course counts as credit toward the following designation programs: FLMI, PFSL, PFLP.
The learners will be awarded with a personalized certificate upon the successful completion of the course and the related I*Star (Individually Scheduled Test and Results) exam within 6 months after the enrollment.
The course is online can be accessed both from computer and mobile devices.
Course Portals include the following elements:
- All the assigned study materials needed for the course
- Interactive Practice Questions and Sample Exams
- Recommended study plans to help you set goals and manage your study schedule
- Additional media and features to help in the study and review process
Study materials for this course are delivered via the online Course Portal, and enrollment in the Course Portal also includes enrollment in one of the exam options for the course:
- A timed, self-proctored end-of-course exam available through the Course Portal. The time limit for the proctored exam is 100 minutes and the exam includes 50 questions.
- Proctored end-of-course I*STAR exam at a LOMA member organization. The time limit for the proctored exam is 2 hours and the exam includes 50 questions.
The course content is the same regardless of the testing option chosen.