Course in Insurance and Reinsurance

General Principles of Commercial Insurance

• Definition of insurance and its main principles.

• Risk distribution and transfer between parties.

• Differences between mandatory and voluntary insurance.

Types of Insurance Coverages

• Property insurance and natural hazard coverage.

• Marine, aviation, and transportation insurance.

• Liability and personal accident insurance.

Components of the Insurance Policy and Technical Contents

• Key information of the insured.

• General and specific terms, conditions, and exclusions.

• Coverage limits and insured amounts.

Claims Processing Mechanisms

• Submission and settlement of claims.

• Role of the actuarial expert in evaluation.

• Steps for claim examination and decision-making.

Introduction to Reinsurance and Its Objectives

• Redistributing risks to reinsurers.

• Contractual relationship between the insurance company and the reinsurer.

• Ensuring company stability and achieving financial balance.

Types of Reinsurance Agreements

• Proportional agreements: quota share and surplus.

• Non-proportional agreements: stop-loss and excess-of-loss.

• Facultative versus treaty reinsurance.

Reinsurance Portfolio Management

• Risk analysis and effective distribution.

• Determining optimal capacity.

• Collaboration with international reinsurance companies.

Technical Pricing and Risk Analysis

• Principles and determinants of pricing.

• Use of statistical data and mathematical models.

• Calculation of premiums and estimation of expected losses.

Regulatory Framework of the Insurance Industry

• Local and international laws and regulations.

• Obligations of insurance companies toward clients.

• Anti-fraud and anti-manipulation rules in insurance.

Governance and Compliance in the Insurance Sector

• Role of regulatory and supervisory authorities.

• Principles of transparency and disclosure.

• Dispute management and protection of parties’ rights.