Delegates will experience the ‘life cycle’ of a reinsurance risk – from placement to claims – over the course of a single day.
The morning session looks at the placement of a reinsurance contract and focuses on some of the most important clauses. Delegates participate in a mock-placement scenario, identifying ‘good’, ‘bad’ and ‘indifferent’ clauses and negotiating specific contract terms.
The afternoon session looks from a claims perspective at the reinsurance contracts ‘placed’ during the morning session, exploring how clause selection can affect claims outcomes. Delegates ‘stress test’ the contracts they have placed by applying claims scenarios to the wordings agreed.
KEY LEARNING OBJECTIVES
Upon completion of the LMA programme, delegates will return to their roles able to:
• understand and apply contract certainty rules to reinsurance contracts and to understand the regulatory context
• identify key clauses in reinsurance contracts, how they operate and why they are important
• identify how different wordings may affect both placement negotiations and claims outcomes.