REINSURANCE 101: MANAGING CATASTROPHIC RISK IN A DANGEROUS WORLD

Delivery Method: Self-paced

Required Resources: National Association of Insurance Commissioners. (2023, June) Reinsurance.

Course Description: The world is full of risk. Managing that risk has never been more challenging than it has been in the last 100 years. New technologies have emerged, natural and man-made catastrophes have been occurring more frequently, global events are disrupting economies, and the insurance industry has been significantly affected. How have insurance companies been dealing with the astronomical economic losses caused by ever increasing catastrophic events? And how has the role of reinsurance helped mitigate those losses? These are the questions that will be considered throughout this course.

Learning Objectives: By completion of this course, successful students will be able to:

● Explain the common types of catastrophic events and the insured losses they’ve had on the global economy.

● Relate the history of reinsurance and understand why it is important to the insurance industry.

● Describe the principles of managing risk and some key mechanisms related to reinsurance.

● Apply course information to take practical measures in proper underwriting, risk management and innovation in the insurance industry.