DRIVING PROFESSIONAL STANDARDS
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<strong>DRIVING</strong> <strong>PROFESSIONAL</strong> <strong>STANDARDS</strong><br />
2015 MII PROGRAMME DIRECTORY<br />
REINSURANCE<br />
Courses on Reinsurance are designed to provide<br />
participants with a broad understanding of<br />
reinsurance market and business with key topics<br />
and issues aptly covered.<br />
Title<br />
Venue<br />
Who Should<br />
Attend<br />
Key Learning<br />
Outcomes<br />
Key Course<br />
Contents<br />
1.31 Foundation Course in Reinsurance<br />
Duration<br />
Time<br />
2 Days 9.00 am to 5.00 pm<br />
The Malaysian Insurance Institute City Centre<br />
Suite 6.0W, 6th Floor, Wisma Sime Darby, Jalan Raja Laut, 50350 Kuala Lumpur, Malaysia.<br />
• Insurance staff and agents with basic knowledge of insurance<br />
• Non - insurance personnel whose work require basic understanding and practical knowledge of the subject<br />
• Anybody who requires knowledge of Reinsurance<br />
At the end of the course, participants will be able to:<br />
• Explain the importance and need for reinsurance protection<br />
• Understand the principles underlying the reinsurance business<br />
• Describe the roles of the parties involved in the reinsurance market<br />
• Identify the various types of reinsurance contracts<br />
• Identify the factors involved in reinsurance underwriting and programme<br />
• Understand the process of fixing retention<br />
Session 1<br />
• Introduction<br />
- Need for Reinsurance<br />
- General Principles of Reinsurance<br />
- Law of Reinsurance<br />
Session 2<br />
• Reinsurance market<br />
- National Market<br />
- Buyers, Sellers and Intermediaries<br />
a) National and International<br />
Session 3<br />
• Types of Reinsurance<br />
- Facultative Reinsurance<br />
- Proportional Reinsurance Treaties<br />
(a) Quota Share Treaties<br />
(b) Surplus Treaties<br />
- Non - proportional Reinsurance Treaties<br />
(a) Excess of Loss Treaties<br />
(b) Stop Loss / Excess of Loss Ratio<br />
- Pools<br />
FEES<br />
MEMBER<br />
RM 900<br />
GROUP MEMBER<br />
RM 850<br />
NON MEMBER<br />
RM 1,100<br />
GROUP NON MEMBER<br />
RM 1,050<br />
INTERNATIONAL<br />
USD 300<br />
GROUP INTERNATIONAL<br />
USD 280<br />
Session 4<br />
• Reinsurance Underwriting<br />
Session 5<br />
• Fixing Retentions<br />
Session 6<br />
• Reinsurance Programming<br />
Session 7<br />
• Administration and Accounting<br />
Title<br />
Venue<br />
Who Should Attend<br />
Key Learning<br />
Outcomes<br />
1.32 Intermediate Course in Reinsurance - Accounting<br />
Duration<br />
Time<br />
2 Days 9.00 am to 5.00 pm<br />
The Malaysian Insurance Institute City Centre<br />
Suite 6.0W, 6th Floor, Wisma Sime Darby, Jalan Raja Laut, 50350 Kuala Lumpur, Malaysia.<br />
• Insurance personnel with basic knowledge of Insurance or of Reinsurance<br />
• Non - insurance personnel whose work require understanding and practical knowledge of the subject<br />
• Anyone who requires knowledge of Reinsurance<br />
At the end of the course, participants will be able to:<br />
• Appreciate and apply the principles and techniques involved in reinsurance accounting<br />
• Present and handle the appropriate reinsurance statistics<br />
Key Course Contents Session 1<br />
• Introduction<br />
- Types of Reinsurance<br />
- Facultative<br />
- Treaties: (a) Proportional (b) Non-proportional<br />
- Underwriting Process<br />
- Records, procedures, controls<br />
Session 2<br />
• Financial provisions of Proportional Reinsurance<br />
& Accounting<br />
- Reinsurance commission<br />
- Reimbursement of taxes and levy<br />
- Profit commission<br />
- Portfolio Transfer Provisions<br />
- Premium Reserve and Interest on Reserve<br />
- Cash loss recoveries<br />
- Compilation of Accounts<br />
- Control on settlements<br />
Session 3<br />
• Financial Provisions of Excess of Loss Cover<br />
- Deposit Premium<br />
- Minimum Premium<br />
- Adjustment Premium<br />
- Burning cost loaded rate<br />
- Specified rate percent<br />
- Cost of Living Index Clause<br />
- Claims recovery<br />
• Credit for salvage and recoveries<br />
- Reinstatement provisions<br />
FEES<br />
MEMBER<br />
RM 1,200<br />
GROUP MEMBER<br />
RM 1,150<br />
NON MEMBER<br />
RM 1,400<br />
GROUP NON MEMBER<br />
RM 1,350<br />
INTERNATIONAL<br />
USD 400<br />
GROUP INTERNATIONAL<br />
USD 380<br />
Session 4<br />
• Internal controls<br />
- In relation to administration of reinsurance<br />
cessions<br />
- In relations to administration of inward<br />
reinsurance<br />
Session 5<br />
• Accounting Treatment for foreign Exchange<br />
- Reinsurance Cessions<br />
- Reinsurance Acceptance<br />
Session 6<br />
• Provision for outstanding claims-Inward<br />
Reinsurance<br />
- Inward Facultative Business<br />
- Inward Excess of Loss Covers<br />
- Inward Treaties<br />
- Provision for IBNR claims<br />
Session 7<br />
• Statutory provisions in relation to reinsurance<br />
- Insurance Act/FSA<br />
- Income Tax Act<br />
Session 8<br />
• Statistics and Management Report<br />
Session 9<br />
• Compliance<br />
- Malaysian Accounting Standard<br />
- Bank Negara guidelines and circulars<br />
Session 10<br />
• Case Studies<br />
44 45
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