RMIN 4008 - Surplus Lines and Reinsurance

3 cr.

A study of the excess and surplus lines markets as well as the reinsurance sector of the insurance industry. With the multinational and complex nature of many firms, more insurance protection is purchased from surplus lines companies or associations like Lloyds of London, or self-insured by way of captive insurers established off-shore. The use of captives often places the firm in the position to deal directly with the reinsurance market. The formation and classification of these companies, their regulation, the products they sell, how they market the products, their accounting procedures, their financial statements, and their comparison to primary insurers, are covered.

Prerequisite(s): RMIN 2005 and RMIN 3020 or permission of department head.

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