Title

MII Technical Course in Reinsurance - Accounting

Date

25 – 26 April, 2012

Duration

2 Days

Level  

Intermediate

Time

9.00 am to 5.00 pm

Venue

The Malaysian Insurance Institute
MII City Centre
S17-S28, 2nd Floor,
Maju Junction Mall
1001 Jalan Sultan Ismail
50250 Kuala Lumpur

Trainer

TBA

Who Should Attend

1. Insurance Industry Personnel who have basic knowledge in Insurance or basic knowledge in Reinsurance
2. Non– insurance personnel whose work require an understanding or practical knowledge of the subject
3. Anyone who require knowledge on insurance

Key Learning Outcomes           

At the end of the course, participants will be able to :

1. appreciate and apply the principles and techniques involved in reinsurance accounting
2. present and handle the appropriate reinsurance statistics

Course Content

1. Session 1

    Introduction
-Types of Reinsurance
- Facultative
- Treaties :   (a) Proportional  (b) Non-proportional
- Underwriting Process
- records, procedures, controls

1. Session 2

    Financial provisions of Proportional Reinsurance & Accounting
- Reinsurance commission
- Reimbursement of taxes and levy
- Profit commission
- Portfolio Transfer Provisions
- Premium Reserve and Interest on Reserve
- Cash loss recoveries
- Compilation of Accounts
- Control on settlements

1. Session 3

    Financial Provisions of Excess of Loss Cover
- Deposit Premium
- Minimum Premium
- Adjustment Premium
- burning cost loaded rate
- specified rate percent
- Cost of Living Index Clause
- Claims recovery
Credit for salvage and recoveries
- Reinstatement provisions

1. Session 4

    Internal controls
- in relation to administration of reinsurance cessions
- in relations to administration of inward reinsurance

1. Session 5

    Accounting Treatment for foreign Exchange
- Reinsurance Cessions
- Reinsurance Acceptance

1. Session 6

    Provision for outstanding claims-Inward Reinsurance
- Inward Facultative Business
- Inward Excess of Loss Covers
- Inward Treaties
- Provision for IBNR claims

1. Session 7

    Statutory provisions in relation to reinsurance
- Insurance Act
- Income Tax Act

1. Session 8

    Statistics and Management Report

1. Session 9

    Compliance
- Malaysian Accounting Standard
- Bank Negara guidelines and circulars

1. Session 10

    Case Studies

Category

Course Fee Per Person

LOCAL

INTERNATIONAL

Single
Registration

Group
Registration

Single
Registration

Group
Registration

MII Member

RM950

RM900 per person

-

-

GTG/FAIR Member

RM950

RM900 per person

USD450

USD400 per person

Non Member/Others

RM1050

RM1000 per person

USD500

USD450 per person