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1 Little Allercleugh,
Bishop Auckland,
Co. Durham,
DL13 1PU.

Phone Number :: 01388 537755
Fax Number :: 01388 537733

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1.6 Property Excess of Loss (Per Risk & Event) Reinsurance
An intermediate level course explaining risk and catastrophe excess of loss reinsurances, the differences between them and why each type of reinsurance is purchased. It will provide a description of London market practice, examine some major wordings considerations and provide an introduction to rating methods and issues.

· What is excess of loss reinsurance - definition and basic operation
· Uses and purposes of excess of loss R/I
· The London Market: placing and writing of excess of loss business
· Catastrophe and Risk protections
· Reinstatement considerations and principles
· Risk Protections;
+Single risk definitions and controls (EML/PML)
+Experience rating – the principles
+ Burning cost (or swing-rated) contracts
+ Differences between Proportional and Risk XL (incl. Facultative XL)
+ Exposure rating – the principles; risk profiles
+ Annual aggregate limits (including event limit)
+ Information requirements
· Catastrophe/"event" covers: working and top layers
+ Perils identified
+ Understanding exposures; consideration of different territories
+ Establishing PML zonal aggregates (CRESTA and other models)
+ Principle of pure catastrophe premium
+ PML catastrophe curve – rating principles
+ Return period rating - rating principles
+ Benchmark losses – rating principles
+ Programme construction - use of layering
+ Information requirements
· Some wordings considerations: basic principles
+ Reinsurers’ controls (clauses to restrict or limit exposures)
+ Other important clauses; loss definitions
+ Key legal decisions and "contract certainty"

Learning Outcomes
On completion of the course delegates will understand the function, principles and practice of property per risk and catastrophe excess of loss reinsurance.

Intended Audience
The course will be appropriate for those who are new to property reinsurance or who are involved in direct insurance and require a working knowledge of the principles and practice of reinsurance.

An interactive presentation with lectures and exercises on per risk and catastrophe reinsurance.

One day.

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