Reinsurance - IC 85 Practice Exam
Reinsurance - IC 85 Practice Exam
About Reinsurance - IC 85 Exam
The IC85 - Reinsurance Management Exam is a specialized certification provided by the Insurance Institute of India (III), aimed at insurance professionals seeking to enhance their expertise in managing reinsurance programs. This comprehensive assessment helps individuals develop a deep understanding of reinsurance mechanisms and practices.
What is Reinsurance?
Reinsurance refers to a transaction in which one insurance company transfers a portion of its risk to another insurance provider in exchange for premiums. By spreading the risk across multiple policies, reinsurance allows insurers to offer higher coverage limits to customers, beyond what they could manage alone.
What Does the IC85 Exam Evaluate?
The IC85 exam evaluates your proficiency in managing reinsurance programs, assessing both theoretical knowledge and practical skills required for effective reinsurance management.
Who should take the IC85 - Reinsurance Management Exam?
The IC85 exam is ideal for insurance professionals who want to deepen their understanding of reinsurance management and enhance their career prospects. Specifically, this exam is suited for:
- Insurance Professionals: Those working in the insurance industry who are involved in risk management, underwriting, or claims, and wish to expand their knowledge in reinsurance strategies.
- Reinsurance Managers: Individuals managing reinsurance programs and seeking a formal qualification to validate their expertise in this area.
- Underwriters and Brokers: Those involved in negotiating and structuring reinsurance contracts, looking to strengthen their understanding of reinsurance concepts and techniques.
- Risk Managers: Professionals responsible for managing risk within insurance companies, who need to understand how reinsurance can help mitigate and spread risk.
- Aspiring Reinsurance Professionals: New entrants to the insurance or reinsurance sectors who want to build a solid foundation in reinsurance management.
- Insurance Consultants and Advisors: Those providing advisory services on insurance and reinsurance matters, aiming to stay ahead of industry trends and regulations.
IC85 - Reinsurance Management Course Outline
The IC85 exam syllabus includes the following key chapters:
- Chapter 1: Introduction to Reinsurance
- Chapter 2: Forms of Reinsurance
- Chapter 3: Reinsurance Methods - Part I
- Chapter 4: Reinsurance Methods - Part II
- Chapter 5: Retentions in Reinsurance
- Chapter 6: Designing a Reinsurance Program
- Chapter 7: Distribution of Reinsurance Program Arrangements
- Chapter 8: Legal Aspects and Clauses in Reinsurance Contracts
- Chapter 9: Reinsurance Accounting Practices
- Chapter 10: Overview of Reinsurance Markets
- Chapter 11: Financial Security in Reinsurance
- Chapter 12: Alternatives to Traditional Reinsurance Models
- Chapter 13: Inward Reinsurance Business
- Chapter 14: Information Processing for Reinsurance Decisions
- Chapter 15: Catastrophe Modelling in Reinsurance
- Chapter 16: Reinsurance Regulations in India
- Chapter 17: The Role of Insurance Pools in Reinsurance
