Term Of The Day – Associate in Reinsurance (ARe)
The Associate in Reinsurance designation generates little discussion in the Workers Comp world. Without reinsurance some self insured employers would find themselves in deep trouble. One of the most misunderstood areas of insurance is reinsurance. More than one Workers Compensation insurance carrier has failed by not properly securing reinsurance or not properly or untimely reporting the risk of the large claims to the reinsurer.
The core courses are:
ARe 143 – Primary Insurance Coverages
Personal Insurance Overview; Automobile Insurance and Society; Personal Auto Policy: Liability, Medical Payments, and Uninsured Motorist Coverage; Personal Auto Policy: Physical Damage, Duties After an Accident, Endorsements, and General Provisions; Homeowners Property Coverage; Homeowners Liability Coverage and Personal Umbrella Coverage; Overview of Commercial Insurance and Commercial Property Insurance; Commercial Property Insurance; Business Income Insurance; Inland and Ocean Marine Insurance; Commercial General Liability Insurance; Commercial Auto Insurance; Workers Compensation and Employers Liability Insurance; and Miscellaneous Commercial Coverages
ARe 144 – Reinsurance Principles and Practices
Introduction to Reinsurance, Types of Reinsurance and Reinsurance Program Design, The Reinsurance Placement Process, Common Reinsurance Treaty Clauses, Quota Share Treaties, Surplus Share Treaties, Property Per Risk Excess of Loss Treaties, Casualty Excess of Loss Treaties, Catastrophe Reinsurance, Aggregate Excess of Loss Treaties, Reinsurance Audits, Reinsurance Regulation, Reinsurance Aspects of the NAIC Annual Statement, and Reserves.
ARe 145 – Readings in Reinsurance Issues and Developments
Students examine reinsurance topics from contemporary journals and periodicals.
As with most of the AICPCU designations, an Ethics course will be included in the future.
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